The Last Development Parcel In The Country’s Wealthiest Zip Code Just Sold For More Than $100 Million

The Last Development Parcel In The Country’s Wealthiest Zip Code Just Sold For More Than $100 Million

While the poors have been arguing about abortion and inflation back on the mainland, the richest people in the nation have been quietly snatching up all of the best real estate. 

Such was the case this week when Related Group, a developer led by billionaire Jorge Perez, bought the last development parcel available on Miami Beach’s ritzy Fisher Island, according to Bloomberg

The address, 6 Fisher Island Drive, was sold for more than $100 million to buyers that included Related, Israeli billionaire Teddy Sagi, BH Group and Wanxiang America RE Group, the report says. 

The plan is to build about 50 condos on the site with penthouses priced at more than $60 million and “normal” units priced at about $30 million. The condos will be between 3,800 sq. feet and up to more than 12,000 sq. feet. 

Perez told Bloomberg this week: “This is the last opportunity for someone to buy a new development, pre-construction in Fisher Island. To be able to develop on Fisher Island is really a once-in-a-lifetime opportunity.”

And he made it no secret about who he is eventually looking to sell to: “An executive for Citadel is one of our perfect buyers, where if he wanted to, he could get picked up by boat right from the property and take it across the bay to Brickell. That is an amenity and perk, where we’re the only project that will offer that.”

Off the coast of Florida, Fisher Island is described as “an ultra-exclusive private island” and “the wealthiest zip code in the United States”. 

The island is “accessible only by private yacht or 7-and-a-half-minute auto-ferry from Miami Beach” and “spans 216 private acres of tropical resort-style living, located within minutes from the cultural enticements of Miami.”

The island’s Fisher Island Club provides access to the oceanfront Beach Club, Vanderbilt Mansion, Spa Internazionale, a par-35 championship nine-hole golf course, state-of-the-art Racquet Club, and two private deep-water marinas, among other amenities.

Tyler Durden
Thu, 09/15/2022 – 22:00

Share DeepPol
Generated by Feedzy