Swire Offers The Residences At Mandarin Oriental, Miami Penthouse For $100 Million Posted on April 25, 2024April 25, 2024 by Sarah Elles Boggs Brickell Key’s crown jewel development is offering a glimpse into their crown jewel residence. The Residences at Mandarin Oriental, Miami has released two renderings and a few details on their jaw-dropping upper penthouse that is now offered for a reported $100 million. The centi-million price tag of the Mandarin’s penthouse is not simply a reflection of the current state of Miami’s luxury real estate market. The Residences at Mandarin Oriental, Miami is the culmination of over four decades of development on the tiny residential island. It will rise on the last available waterfront lot and offer the highest level of opulence, design and service. For this development finale, Swire is spending over $1 billion to redevelop the Mandarin Oriental Hotel and to bring the new 66-story tower to life. Residences at Mandarin Oriental, Miami Penthouse Pool The penthouse is actually a combination of two upper penthouses, which can be sold combined or separated. This is a strategy that has proved to be successful in recent ultra-luxury sales such as The Shore Club Private Residences‘ recent $120 million penthouse sale on Miami Beach and Six Fisher’s $150 million penthouse combination on Fisher Island. Back at The Residences at Mandarin Oriental, Miami on Brickell Key, Swire has revealed that the residential tower is topped with the upper residence(s) spanning 23,000 interior square feet over two floors and has a rooftop infinity pool. Further details are very tight-lipped, again staying with the “privacy is the new luxury” theme. Ultra-luxe buyers no longer wish to display their wealth where the entire world can see. Rather, they prefer quiet luxury and the ultimate of privacy. This theme of privacy begins with details of what is offered. Many ultra-chic projects no longer release details as buyers do not want what has been overly-seen or publicized. Residences at Mandarin Oriental, Miami One Island Drive Brickell Prices of the tower residences currently begin at $4.9 million. Groundbreaking is anticipated early in 2025 with the delivery of residences expected in 2029. The Residences at Mandarin Oriental, Miami preview lounge is available by appointment only. If you are interested in an invitation for a private presentation of The Residences at Mandarin Oriental Miami in the preview lounge, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Photo Credit: Mandarin Oriental Residences, Miami Residences at Mandarin Oriental, Miami One Island Drive Brickell
The Four Seasons Private Residences, Coconut Grove Officially Launches | First Renderings Posted on April 23, 2024April 25, 2024 by Sarah Elles Boggs A world-class team has converged in Coconut Grove, set to bring an iconic standalone residential offering to Miami’s historic Coconut Grove. The Four Seasons Private Residences, Coconut Grove has officially launched, with the development team of Fort Partners and CMC Group releasing the first official renderings and details. Four Seasons Residences Private Residences Coconut Grove’s Development Team The project is spearheaded by a partnership between Miami’s CMC Group and Fort Partners, two of the most prolific Florida development companies. CMC Group is led by Ugo Colombo, whose mark is already left on the Miami skyline with such uber-successful projects as Epic Residences in Downtown Miami, Brickell Flatiron and Santa Maria in the Brickell Financial District and here in Coconut Grove, he has built The Grovernor House. In addition to these projects, he is in the process of building the much-heralded Vita at Grove Isle. “With over 35 years of experience, our luxury condos have set the standard in the South Florida market,” said Ugo Colombo, CEO of CMC Group. “Fifteen years ago, CMC Group pioneered luxury living in the Grove with Grovenor House and now with Four Seasons Coconut Grove, we’re raising the bar yet again. By integrating the renowned Four Seasons service, we’re not just resetting standards; we’re redefining luxury living. Our commitment to quality remains unwavering, ensuring that our buildings continue to be the benchmark for excellence in the industry.” Fort Partners has become a household name through their penchant for historic preservations and the Four Seasons brand. They famously redeveloped The Surf Club in Surfside to one of the most successful projects in the history of Miami Beach, The Four Seasons Hotel and Residences at The Surf Club as well as The Four Seasons Hotel Miami in Brickell and the Four Seasons Hotel and Private Residences Fort Lauderdale. In all Fort Partners has a portfolio of five Four Seasons properties in the United States and six in Europe. “Four Seasons is the standard-bearer for luxury around the world and has captivated the real estate market with its leading branded residences,” said Nadim Ashi, CEO of Fort Partners in a release. “We are thrilled to continue our proven relationship with the esteemed brand and forge a new partnership with the highly successful CMC Group on developing this first-of-its-kind offering in the coveted Coconut Grove neighborhood.” Rendering of Four Seasons Private Residences in Coconut Grove Lobby Details On Four Seasons Private Residences, Coconut Grove As can be expected, the layouts, finishes and amenities are incredibly inspired, luxurious and precisely planned. Owners will enjoy 11-foot ceilings throughout their residences to compliment the open and spacious floor plans. Bespoke Italian kitchens by Molteni and Bönan will offer integrated Miele appliances. The bathrooms are well-appointed with Noorth cabinetry and paneling with Margraf marble finishes. Each home is accessible by an intimate private elevator with the latest in-home automation and lighting control systems. “The essence of Coconut Grove and the cultural significance of the location’s past, including the gorgeous climate, spectacular views and exceptional quality of life, guided each step of the design process. Whether through design elements influenced by the rhythm of the ocean or patterns created i the sand, we maintained fluidity between the surroundings and the interiors to allow residents to relax and immerse themselves in the atmosphere of the space,” said designer Michele Bönan. Outside of the residences, Four Seasons Private Residences Coconut Grove plans an extensive collection of luxe amenities that will include a private restaurant from a notable chef, a library, The wellness center is slated to include a state-of-the-art fitness center, yoga and pilates and a spa complete with cold plunge for circulation, hammam, and spa services. Residents will also enjoy an expansive pool deck and bar lounge serviced by Four Seasons, which includes all of the legendary benefits of the Four Seasons Hotel brand including a dedicated Director of Residences, concierge, housekeeping, butler, in-residence dining, valet and wellness programming. “With our growing standalone residential portfolio, Four Seasons is elevating luxury living for discerning buyers by blending personalized service alongside prime real estate in the best locations worldwide. In a competitive branded residential market like Miami, the trust and credibility of our brand will no doubt drive demand for this exceptional project in Coconut Grove,” says Bart Carnahan, President, Global Business Development, Portfolio Management, and Residential, Four Seasons. “Together with our esteemed partners at Fort and CMC, we look forward towelcoming this spectacular project to our dynamic portfolio of Four Seasons Private Residences across South Florida.” Rendering of Four Seasons Private Residences in Coconut Grove Cocktail Lounge The location of Four Seasons Private Residences, Coconut Grove is also carefully curated in order to reflect the area’s refined, serene atmosphere that is steeped in culture and connectedness. The Biscayne Bay is a short walk as is CocoWalk with local boutiques, award-winning culinary experiences and some of the top schools in the nation. In total, the 70 residences are set to include two- to four- bedroom layouts with up to 3,980 square feet. The four penthouses will range from almost 6,500 square feet to 9,690 square feet. Rising 20 stories over Downtown Coconut Grove, residents will enjoy unobstructed views of the sailboats in the bay and the park. Prices have not been made publicly available, but are disclosed privately to interested and approved parties. If you want to be one of the few VIP’s to have an opportunity to own an iconic piece of the Coconut Grove skyline, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman and local Coconut Grove resident. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images Courtesy of CMC Group/Fort Partners Rendering of Four Seasons Private Residences in Coconut Grove Reception
The Canopy In The Grove Answers The Call For More Luxury Boutique Office Space Posted on April 19, 2024April 21, 2024 by Sarah Elles Boggs The ongoing renaissance of Coconut Grove is continuing, with new restaurant, hotel and luxury residential developments popping up all around the waterfront downtown area, and now the circle is becoming complete with new commercial office space. After all, the elite new Grovites will also need a place to nurture their careers. To answer this call, many of the Coconut Grove office spaces have undergone restorations in order to offer the amenities that today’s professionals have come to expect. The newest addition to this lineup is The Canopy in the Grove, which offers move-in-ready office spaces and flex spaces at 2982 Grand Avenue. Rendering of The Canopy in the Grove The Canopy in the Grove Staying true to Coconut Grove’s boutique feel, The Canopy in the Grove offers an intimate atmosphere with ground-level retail, a second floor with over 16,500 square feet of leasable space and a third floor with just over 5,000 square feet of space that includes a rooftop terrace overlooking CocoWalk and the historic Peacock Park on over to the Biscayne Bay and various marinas. Office configurations are available anywhere from 2,500 square feet up to 21,650 square feet with marquee office signage. Inside the development, professionals will enjoy a choice of elevators or escalators when traveling between the floors, a dramatic glass-enclosed lobby and onsite coffee bar near the FedEx location. The offices themselves feel spacious and airy with standard ceiling heights at 14 feet and new impact glass for added street noise insulation. This type of move-in-ready flex space is answering the need for small startup firms to global empires as well. Just last year, Banco Santander added to their already immense Miami offices with a Coconut Grove tech hub in… you guessed it. They chose a Downtown Grove flex space that is walking distance to everything The Grove has to offer entertainment-wise. Rendering of The Canopy in the Grove Rendering of The Canopy in the Grove Cafe The Canopy in the Grove Location Just as in residential real estate, commercial real estate centers around the universal selling feature. Location, location, location. Taking this to heart, Miami is not a city of office warehouses located on the outskirts of civilization. Rather, our offices are intimate and nestled in culturally significant enclaves within the heart of the city. The Canopy in the Grove’s location at 2982 Grand Avenue is just across the street from practically anything a modern, thriving professional could want. There are plenty of chic hotels for traveling guests including Mr. C Miami and the Ritz-Carlton Coconut Grove as well as The Mayfair House. Those professionals who have families with school-age children will be pleased to see world-class institutions nearby including Coconut Grove Elementary as well as Ransom Everglades, Sacred Heart and Vanguard School. Foodies will be impressed with the culinary offerings including a list of Michelin starred-outposts and a variety of cuisines to choose from. Rendering of The Canopy in the Grove Carrot Express Within the development, the ever-popular healthy cafe Carrot Express is taking residence in the ground level with an indoor/outdoor restaurant that serves many as a daily lunch haunt. The Future of Downtown Coconut Grove We are so pleased to see the recent growth of Coconut Grove. As Groveites ourselves, Jaimee and I are proud to be a part of the positive changes in the area, experiencing the new and luxurious feel without sacrificing the character that Coconut Grove is famous for. In the coming years, this renaissance will no doubt continue with the addition of Ugo Colombo’s Four Seasons Residences in Coconut Grove, Vita at Grove Isle and filled in with more culinary options that add to Coconut Grove’s allure and new status as a destination community. If you are interested in learning more about life in Coconut Grove, please contact Michael Light, Grove resident as well as Broker and Executive Director of Luxury Sales at Douglas Elliman Real Estate. We would love to have you as a neighbor. Coconut Grove Marina Aerial Coconut Grove Downtown Condos Coconut Grove Aerial
Inside A One-Of-A-Kind Oceanfront Home On Miami Beach | Listed For $37.5 Million Posted on April 17, 2024April 21, 2024 by Sarah Elles Boggs Despite what its reputation would lead you to believe, Miami Beach is not full of beachfront homes. Sure, there are many options for beachfront hotels and luxurious condo offerings, but those who are searching for beachfront single-family homes need to begin their search farther north in Golden Beach, where there are a few select purchase opportunities… until now. The Shore Club Private Residences, a historic redevelopment of the iconic hotel at 1901 Collins, designed by Robert A.M. Stern Architects is set to offer the first single family residence on the Miami Beach sand. While details of this monumental project are purposely scarce, we have been able to learn about their on-of-a-kind residence that is offered for $37.5 million. Rendering of The Shore Club Beach House The Shore Club Beach House Entering into the stunning glass-enclosed triplex home, you find a discreet private entrance on the first floor that enters into a beautiful wide-open gallery filled with bright natural light. The great room offers panoramic views of the ocean and a dramatic 3-story glass staircase. An expansive 66-foot loggia with an outdoor wet bar is just steps away with an outdoor living space as well as a fitness area. Two guest bedrooms are located on the first floor with a more private owner’s suite on the second floor. This is where you will find the main living area and the primary bedroom suite. On the rooftop, owners will enjoy a rooftop terrace with a private infinity-edge swimming pool and a sunset terrace. In total, the home offers 6,051 interior square feet with four bedrooms, four full bathrooms and three powder rooms. Each of the rooms are designed to be of immense size, making way for large-scale paintings or sculptures. “This is the first single-family home built in the sand in Miami Beach and on top of that it’s a Robert A.M. Stern custom-designed home directly on the water and you have all the amenities associated with the Auberge resort and the residences. There is not another house like this in all of Miami Beach,” The Shore Club Private Residences’ Sales Director told Mansion Global. Rendering of The Shore Club Residences Pool Entry The Shore Club Amenities As The Beach House is an exclusive part of The Shore Club Private Collection, owners will experience all of the services and amenities of Auberge Resorts-managed property. On days when the owners are feeling slightly more social, they can venture over to the private residential pool that is set in a lush garden surrounded by private cabanas and a poolside bar. There is a 24-hour reception and concierge services, a spa and beach club, fitness club with a second private gym and personal training suites, a children’s play area, and signature Auberge restaurants that include a café bar, poolside dining or in-residence catering. The Shore Club Private Collection As we have previously covered, The Shore Club Private Collection is a proper redevelopment of the iconic hotel including the neighboring Cromwell Hotel. Robert A.M. Stern has envisioned a new era for the historic property that includes a new glass-enclosed 200-foot tower of private residences solely for the global elite. No two residences in the private collection will be exactly alike but will range in size from 2,400 square feet up to 7,000 square feet. In total, there will be just 49 residences including the Beach House and a rooftop penthouse that recently went into contract, asking a staggering $120 million. The developers, Monroe Capital and Witkoff, are being purposely scarce with details of their new exclusive collection citing the privacy as an added amenity of the project. Specifics are only being released to approved buyers and brokers. Douglas Elliman is the exclusive broker for The Shore Club Private Collection. If you are interested in an invitation to consider this home or the project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images courtesy of: The Shore Club Private Residences Rendering of Shore Club Private Residences Miami Beach Pool Area
Discover The Opulent $45 Million Penthouse At Brickell’s St. Regis Residences, Miami Posted on April 12, 2024April 14, 2024 by Sarah Elles Boggs Perched atop the 50-story St. Regis Residences, Miami in Brickell is an opulent 10,000 square foot duplex penthouse that has hit the market for $45 million. Spanning the 48th and 49th floor with a 50th floor rooftop terrace, the penthouse will overlook the Brickell Financial District upon its completion in early 2027. Penthouse A, the first of two bespoke residences will showcase a view of South Brickell, the Biscayne Bay and Coconut Grove. Each level of the residence has its own terrace, but the crown jewel of views is from the rooftop terrace, which spans 2,842 square feet. The rooftop terrace also features a private rooftop pool, spa and summer kitchen. Rendering of St Regis Residences Miami Brickell Penthouse Terrace Inside, the five bedrooms and seven bathrooms are adorned with a muted white chocolate minimalist color palette, natural materials, warm textures and is encapsulated in impact glass windows from floor to ceiling. With the designs inspired by luxury yachts, the feel of the residence offers both a beachy and a cosmopolitan vibe. The primary suite is separated into its own wing with a sitting room, midnight bar, dual bathrooms with natural stone showers, freestanding tubs and two separate boutique-style wardrobes. Rendering of St Regis Residences Miami Brickell Penthouse Primary Suite Rendering of St Regis Residences Miami Brickell Penthouse Primary Bath A gourmet kitchen in the penthouses offers bespoke Rockwell Group-designed Italian cabinetry with custom lighting and fully-integrated Sub Zero and Wolf appliance suites. “The penthouse debut at the St. Regis Residences, Miami signifies a defining moment for both the development and the neighborhood, introducing an elevated level of luxury unmatched by any other residence in Brickell, while upholding the esteemed standards set by one of the most iconic names in hospitality,” says Nick Pérez, president of Related’s Condominium Division told The Robb Report. Rendering of St Regis Residences Miami Brickell Penthouse Kitchen Rendering of St Regis Residences Miami Brickell Penthouse Family Room Owners at the St. Regis Residences will enjoy over 50,000 square feet of amenities that pay homage to the glamour and grandeur of the Brickell and Astor Families. There will be signature butler services, a professional-grade wellness center that offers Pilates and yoga, a full-sized pickleball court, a private marina and holistic healing. True to St. Regis form, there will be a St. Regis Tea Room as well as a fine dining restaurant by Michelin-starred chef Fabio Trabocchi. In total, the St. Regis Residences, Miami will offer 152 residences including the two penthouses, two waterfront garden villas, sky villas and the tower residences. Prices for the tower begin at $3.7 million and construction is already underway. If you are interested in a presentation of the St. Regis Residences, Miami in Brickell, including specific layouts and prices, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Photos courtesy of Related Group/Integra Investments
Today Is National Pet Day! Here Are Miami’s Top Pet-Friendly Condo Buildings Posted on April 11, 2024April 14, 2024 by Sarah Elles Boggs All hail our furry friends! Today is National Pet Day, which is a perfect opportunity to raise one of the more delicate issues with moving your family into one of Miami’s famous condo buildings. Depending upon the type of pet you have in your family, they may or may not be accepted by the condo board in the building of your choosing. Most of the buildings are at least somewhat pet-friendly, particularly if you are purchasing and/or have small pets. If you are renting and/or have large dogs, there are some buildings that will cater to your fur baby, and some who will be less than accepting. In honor of National Pet Day, we wanted to highlight our favorite developments who really roll out the carpet to the four-legged family members. Our Favorite Miami Condo Puppy Havens Grove at Grand Bay Beginning in or own realm of Coconut Grove, The Grove at Grand Bay was built in 2016 and is located at 2669 Bayshore Drive. It boasts large floor plans in twin twisting glass towers designed by starchitect Bjarke Ingels. The human family members will make particular note of the 12-foot ceilings with floor-to-ceiling glass as well as 12-foot deep terraces with glass enclosures, showcasing the views of Regatta Park and the Biscayne Bay. For Fido, all sizes of dogs are welcomed at Grove at Grand Bay and the building is just a stone’s throw to Kennedy Park, one of Miami’s top dog parks. This park is broken into different sections for large dogs and little ones and plenty of shade and seating areas for tired doggie parents to rest while the pets run off their energy. If you’re looking for agility equipment, there are also A-frames and tunnels as well as doggy water fountains in both areas. Grove at Grand Bay Apogee On the Southern tip of Miami Beach at 800 South Pointe Drive is another glamorous and glassy tower across from an expansive and manicured park. South Pointe Park is one of Miami Beach’s most iconic parks, showcasing the glittering skyline in many shots that are featured on television and movies based in the Magic City. It has an off-leash area and follows the Government Cut Inlet all the way to the South Pointe Pier, where you can watch the cruise ships come and go as your furry friend plays fetch and chase. Apogee itself is the pinnacle of luxury in the South of Fifth neighborhood and is a regular on the “Best of” lists. The 22-story tower has just 67 residences, making availability a challenge, but the effort is well worth it. The floor-to-ceiling glass and large terraces offer the perfect backdrop for waterfront relaxation and the condo community is very welcoming to pets. Apogee South Beach Condos Ten Museum Park Downtown Miami is arguably one of the most pet-friendly neighborhoods in the Magic City, they even have a “Dogs and Cats Walk Sculpture Garden” in the Maurice A. Ferre Park at Tenth Street and Biscayne Boulevard. Just across from Ferre Park at 1040 Biscayne Boulevard is Ten Museum Park, the 100-residence tower designed by Chad Oppenheim in 2007. The loft-style floorplans in Ten Museum were among the first to herald in the new, glassy and contemporary style that is so prevalent today. Ten Museum Park Condo Paramount Bay Just blocks away in Edgewater, Paramount Bay is another haven for pups. Its location at 2020 North Bayshore Drive is situated almost directly across from Margaret Pace Park, another of the top dog parks in the Miami area. Margaret Pace Park is an 8-acre fun zone for dogs and people alike. It has two activity zones for off-leash play. There is one area for large and more active dogs and a separate enclosure for smaller or older pups. There are also plenty of water fountains for animals and people alike and a large walking trail for on-leash bayfront strolling. Paramount Bay Condos in Miami Eighty Seven Park Venturing into North Beach at 8701 Collins Avenue, we find the ultra-luxurious Eight Seven Park at one of the most advantageous locations on the beach. The private tower borders North Shore Park, a public gathering spot that boasts the North Beach Oceanside Park Bark Beach, one of the only dog-friendly beaches in the area. Within the Renzo Piano-designed tower, there is a separate and private park solely for the residents and their family (pets included). Eighty Seven Park Condos Pool and Beach View If you are interested in a private presentation and specific pricing for these or similar pet-friendly buildings, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Peek Inside David Grutman’s $7.2 Million Condo At One Thousand Museum Posted on April 10, 2024April 13, 2024 by Sarah Elles Boggs Miami nightlife impresario Dave Grutman and Mrs. Isabella Grutman, Dave’s wife who has enjoyed success as a fashion and jewelry designer, have listed their iconic four bedroom residence at One Thousand Museum in Downtown Miami for $7.2 Million. The building is arguably one of the most over-the-top residential towers in Miami, having been the first residential project designed by Zaha Hadid in the Western Hemisphere. Its unique structure features a scorpion-like exoskeleton which gives One Thousand Museum its trademark style as well as facilitates 60 stories of half- and full-floor residences that do not have interior columns or load-bearing walls. In addition to the added space, the stylish exoskeleton also ensures that no two homes in the ultra-luxury tower are alike. In all, there are 84 bespoke residences in the Downtown Miami building. Within the Grutman’s 17th-floor residence, they have a layout that boasts 4,600 interior square feet with four bedrooms, five and a half baths and a deep 820-foot terrace overlooking the Biscayne Bay, Kaseya Center and Bayfront Park. Without the need for interior columns, the new owners will be able to enjoy a jaw-dropping 48-foot social gallery. The tower’s exoskeleton allows for spacious layouts without load bearing walls or columns. David Grutman – 1000 Museum Condo Terrace As Grutman has made a career out of chic celebrity hotspots, it is only natural that he would make his home in One Thousand Museum, which is no stranger to celebrity residents. When the development opened in 2019, David and Victoria Beckham purchased the penthouse and became neighbors with Marc Anthony. Reggaeton star Nicky Jam had also been a neighbor before selling the residence directly below for $7 million earlier this year. If you have spent any amount of time in Miami’s nightlife scene, you have no doubt come across one of Grutman’s Groot Hospitality brands. You will see his mark in such Miami staples as Komodo (the #1 highest grossing restaurant in Brickell), Swan, Papi Steak, Key Club, Strawberry Moon (a partnership with Pharrell Williams), and Gekko (a Brickell partnership with Bad Bunny). Of course, no visit to Miami is complete without celeb-sightings at LIV on Miami Beach. LIV consistently holds the title of the highest-grossing nightclub in the United States. David Grutman’s 1000 Museum Condo Primary Suite David Grutman’s 1000 Museum Condo Primary Bath Owners at One Thousand Museum enjoy a vault of the most exclusive amenities in the South Florida area. There is a double-height sky lounge with stylish seating areas and swimming pool, the wellness center offers two-room treatment spa, acai and juice bar, a sunbathing area and more. For travel, there is an Escalade house car or even a rooftop helipad, the only residential rooftop helipad in the city at this time. If you are interested in a private tour of One Thousand Museum #1702, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Image Credit: Become Legendary / Dina Goldentayer David Grutman’s 1000 Museum Condo Helipad
Fisher Island Penthouse Combination Sets Record With Sale Over $150 Million Posted on April 5, 2024April 7, 2024 by Sarah Elles Boggs One of the wealthiest zip codes in the United States is getting wealthier with a new-record-setting penthouse sale at Six Fisher on the famed Fisher Island in Miami Beach. The project, which gained additional notoreity as being the first new residential development to require an invitation in order to consider a purchase, has sold a combination of upper penthouses for over $150 million, according to Bloomberg. This ultra-luxurious sale follows a trend that has become prevalent across the coastal region. Miami’s business-friendly climate has attracted an inordinate amount of ultra-high-net-worth individuals as well as the companies they have founded and the high earners that work together to keep the companies fruitful. “We’re seeing a great exodus that is coming to Miami, not just to buy real estate, but for the companies to make Miami their base. That’s bringing the very high-end employment that is going to afford the condominiums,” said Related Group founder Jorge Perez in a Bloomberg interview. At the time of the interview, Perez was in Brazil, visiting with VIP clients and expanding his ever-growing art collection. He made note of the fact that Latin America has always responded well to Miami. Ultra high net worth South Americans feel safe and welcomed in the area, the location is convenient and the climate is conducive to relaxation. With that being said, he mentioned that the high-level business influx has brought unbridled competition for the residences from domestic buyers. Perez noted that of late, domestic buyers have made up half of the residence sales in his most exclusive projects, traditionally representing 20%-25% of the owners. The remaining buyers have been foreigners, most often from Latin America. Rendering of Six Fisher Island Porte Cochere “miami has become a very serious city,” Perez told Bloomberg. “Before it was a tourist city. Fun and sun.” Long gone are the days of Miami and Miami Beach being a single-faceted party destination. In years past, the city lived up to its reputation as a mecca for hard partying tourists, but the new influx of lucrative businesses has paved the way for a more refined and luxurious destination. Miami Beach is becoming the American Riviera, with elevated experiences now being commonplace and competition mounting for the most elevated and exclusive experiences possible. Fisher Island has always been on the upper crust of exclusivity and privacy, as it is accessible only by boat. Guests are security-checked at the dock and residents live a relaxed, resort-lifestyle in the confines of their domain. The island essentially operates as a small town with its own exclusive elementary school, post office, police force and EMS, a golf club, private beach, spa and multiple restaurants. With less than 600 residents, you will see plenty of people cruising around on golf carts, enjoying the countless amenities at their fingertips. Rendering of Six Fisher Island Golf Club Rendering of Six Fisher Island Pool Rendering of Six Fisher Island Deep Water Dock Six Fisher Island has been a pioneer in the new method of purchasing in the most exclusive of condo developments, selling over $300 million in residences (a third of the entire project) within the first couple of months from launch. During this launch period, there were no press releases or sales blasts, rather the project was privately offered to a list of VIP clients, who told their friends of the opportunity and viola! We will not know the concrete sales prices of the residences until the project is complete and closings commence, this is expected in 2025. Considering the Fisher Island resale market, where we do have concrete figures, the average cost of a condominium residence was $4.3 million in the fourth quarter of 2023. The most expensive recent penthouse sale was $40 Million, and tennis great Caroline Wozniacki is asking $42.5 Million for her penthouse at Palazzo Del Sol. She shares the residence with her husband, New York Knicks player David Lee. Palazzo Del Sol is among the newest developments on Fisher Island, it was completed in 2016. Rendering of Six Fisher Island Terrace Rendering of Six Fisher Island Primary Suite Six Fisher is in good company in the race to be the most exclusive development in the area. The Shore Club at 1901 Collins Avenue recently took the crown as the highest-priced penthouse sale, with an anonymous buyer signing a reported $120 million for the upper penthouse. Other jaw-dropping offerings include a $150 million penthouse combination at Michael SHVO’s Raleigh Hotel, also on Miami Beach, and Jeff Bezos’s buying spree on Indian Creek Island, which has become known as the Billionaire Bunker. Despite the offerings elsewhere, Fisher Island will always be unique as there are no other exclusive and full-service islands that are only accessible by yacht, ferry or helicopter. Even in the most exclusive of markets, each project has its own bespoke personality that caters to the exclusive buyers that are welcomed to Miami Beach. Douglas Elliman is the exclusive broker for Six Fisher. If you are interested in an invitation to consider this project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Images courtesy of: Six Fisher by The Related Group