Invite Only New Construction Luxury 50 Unit Condominium to Break Ground on Fisher Island Miami
The Related Group is making waves in South Florida with their newest condominium project on the exclusive Fisher Island. The invitation only condo tower would include 50 luxury residences with a select number of penthouses.
The wealthy have long made Fisher Island, which is located at the confluence of Biscayne Bay and the Atlantic Ocean and is a seven-minute ferry trip from Miami Beach.
Oprah, Julia Roberts, and Mel Brooks are all known to have lived on Fisher Island in the past. The enclave has also received some accolades: Bloomberg found in April 2018 that Fisher Island, with an average income of $2.5 million in 2015, was America's wealthiest ZIP code.
According to Jon Paul Perez, Related's President stated, "We are currently working with our sales teams to develop our list of VIPs. People can live their entire lives on the island and, as such, develop close relationships with neighbors and fellow residents. That's the feeling we want to create at our job. We want our buyers to get to know one another, and forge close friendships that elevate this beyond just another one of their homes."
The proposed condo site, which is the last developable parcel on the 216-acre island, was just purchased for $122.6 million by Related Group, billionaire tycoon Teddy Sagi, BH Group, and Wanxiang America RE Group.
When the unnamed property is finished, units will cost about $30 million, while penthouses will cost more than $60 million.
Project Details:
- 3 to 5 bedroom residences
- Membership to Fisher Island Club
- Golf course
- Tennis facilities
- Marinas
The project's architect is listed as Kobi Karl with interiors by Tara Bernerd and Partners.
Sales are expected to begin at the end of 2022 with construction anticipated in quarter 4 of 2023.
