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
An Art Basel Unveiling Of The Most Exclusive Miami Condos – The Residences at 6 Fisher Island Drive Posted on November 30, 2022December 2, 2022 by Sarah Elles Boggs Just as Art Basel Miami Beach has exclusive VIP parties as well as ultra-exclusive VIP parties, developers in Miami Beach build both exclusive luxury condos as well as the most exclusive luxury condos ever. The latter brings us to The Residences at 6 Fisher Island Drive, where you have to be invited to even consider purchasing. Up until the fall of 2022, just one development site remained on Fisher Island, one of the most exclusive and expensive neighborhoods in the United States, routinely landing on the Forbes list of most expensive zip codes in the country. It is located on a chic private island just South of Miami Beach and is accessible by helicopter, boat or ferry only. There is a stand-alone school, store, restaurants and their own police and fire/rescue forces. Parcel 6, as the location is known on the island, was then purchased by Related Group in partnership with Teddy Sagi, BH Group and Wanxiang America RE Group. The team will be bringing to fruition the most exclusive residential development in the United States, much less on the island itself. The expansive 6.5-acre waterfront site is located on the North side of the island, offering captivating views of Miami Beach, South of Fifth, the daily parade of cruise ships departing and returning to their terminals, and of course the Biscayne Bay and Atlantic Ocean. When completed in 2026, it will be the most exclusive, refined and coveted developments in Miami’s history. Fisher Island Golf Course Inside The Residences at 6 Fisher Island Drive The development team has chosen Miami’s Kobi Karp to spearhead the design of the structure, partnering with London-based Tara Bernerd and Partners to deliver the finishes. In the end, The Residences at 6 Fisher have been designed in a way to maximize the views for each apartment, reflective of the tastes of the ultimate buyers. Each terrace is situated to maximize both the view as well as the privacy. Inside the residences themselves, the estate-style homes range from three to eight bedrooms and 3,800 to nearly 16,000 square feet. Six Fisher Island Residences will consist of only 50 homes in a 10-story structure with 55,000 square feet of five-star, resident-only amenities and a broad spectrum of estate-level services. Buyers who are being invited to consider the project are all ultra-high-net-worth buyers, who would appreciate the level of security, privacy and luxury so close to the action of Miami and Miami Beach. Prices for the residences start at $15.5 million, and in celebration of Art Basel 2022, the developers have presented the crown jewel penthouse. The 16,000 square foot penthouse has been presented for $90 million, or a record-breaking $5,600 per foot. According to the developer they have already met with 20 families, most of whom would pay cash. 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.
Condos So Exclusive You Have To Be INVITED To Buy, Coming Soon To Fisher Island Posted on October 10, 2022October 10, 2022 by Sarah Elles Boggs Related Group is bringing a new level of exclusivity to Miami’s Fisher Island. Imagine owning one of 50 condos in a development that is only accessible by helicopter or boat, and you have to be INVITED to purchase. This is what is slated for the last developable parcel of land on Fisher Island. For those unfamiliar with Fisher Island, it is an ultra-posh area in the Biscayne Bay, between Miami Beach and Miami. To get to the island, there is a seven-minute ferry ride, or you could arrive by boat (usually yacht) or by helicopter. The population is just 561, most of whom roam the island on golf carts. It truly is a peacefully chic ultra-exclusive enclave with a private beach, a club, restaurants and its own zip code that routinely shows up on the Forbes list of Most Expensive Zip Codes in the United States. Although many wealthy people are very discreet about their earnings and their homes, statistics show that the average income on the island is $2.5 million per year. Celebrities who are more open about their living arrangements and have owned on Fisher Island include Oprah, Julia Roberts and Mel Brooks. “We are currently working with our sales teams to develop our list of VIPs,” Jon Paul Perez, Related Group’s president, told Insider. “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 project has not yet been named, but is slated to feature three- to five-bedroom residences that will be offered for around $30 million. Penthouses will ask over $60 million. Each resident will receive membership in the Fisher Island Club to enjoy golf, restaurants, pool parties, marinas, tennis and the private beach. Local Miami architect Kobi Karp has been chosen to make the designs and London-based Tara Bernerd and Partners has been chosen for the interiors.
A Look Back at the Top 9 Luxury Condo Sales of Last Year (2018) Posted on January 23, 2019 by Michael Light The Miami/Miami Beach luxury condo market is always a hot-button topic among real estate news outlets around the world. And, with many people questioning the stability of the luxury market, it is important for me to point out that there were 19 condos that sold over $10 Million in Miami-Dade County in 2018 (per MLS data). And, think about this…this list does NOT include developer inventory not on the MLS, which, if I had access to, would make this number much higher. In 2017, Palazzo del Sol PH 2 topped the list selling at $31,261,545, while topping the list in 2018 was the top-floor penthouse at 321 Ocean that included its own 36′ infinity pool on the roofdeck that is seen above. Top 9 Condo Sales of 2018 #1 321 Ocean PH | South of Fifth | Sold for $26,000,000 Closed on 05/11/2018 6,807 SF Living Area | 5,223 SF of Terraces 5 Bedrooms | 5.5 Bathrooms Sold for $3,819.60 Per Square Foot #2 Fendi Chateau PH-2 | Surfside | Sold for $18,500,000 Closed on 03/12/2018 7,489 SF Living Area | 5,220 SF of Terraces 4 Bedrooms + Den | 7.5 Bathrooms Sold For $2,470.29 Per Square Foot #3 Mansions at Acqualina PH45 | Sunny Isles Beach | Sold for $17,000,000 Closed on 02/28/2018 7,022 SF Living Area | 2,428 SF of Terraces 4 Bedrooms | 6.5 Bathrooms Sold For $2,420.96 Per Square Foot #4 Oceana Key Biscayne PH1-N | Key Biscayne | Sold for $15,000,000 Closed on 05/14/2018 8,252 SF Living Area | 9,000 SF of Terraces 5 Bedrooms + Media Room | 7.5 Bathrooms Sold for $1,817.74 Per Square Foot #5 Apogee South Beach #2104 | South of Fifth | Sold for $14,800,000 Closed on 03/01/2018 4,154 SF Living Area | 2,441 SF of Terraces 3 Bedrooms | 4.5 Bathrooms Sold for $3,562.83 Per Square Foot #6 Bayview at Fisher Island #4811/4821 | Fisher Island | Sold for $14,556,700 Closed on 08/06/2018 8,020 SF Living Area 5 Bedrooms | 5.5 Bathrooms Sold for $1,815.04 Per Square Foot #7 Continuum South Beach #3803 | South of Fifth | Sold for $13,750,000 Closed on 01/16/2018 4,968 SF Living Area | 487 SF of Terraces 4 Bedrooms | 4.5 Bathrooms Sold for $2,767.71 Per Square Foot #8 Apogee South Beach #1604 | South of Fifth | Sold for $13,500,000 Closed on 05/01/2018 4,154 SF Living Area | 2,441 SF of Terraces 4 Bedrooms | 4.5 Bathrooms Sold for $3,249.88 Per Square Foot #9 1 Hotel & Homes PH-1610 | South Beach | Sold for $13,500,000 Closed on 11/01/2018 3,955 SF Living Area 4 Bedrooms | 5.5 Bathrooms Sold for $3,413.40 Per Square Foot If you are interested in learning more about luxury condos in Miami, please contact Broker Associate, Michael Light, Senior Director of Luxury Sales at Douglas Elliman Real Estate and Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman. You may reach Michael directly at (305) 350-9842 or michael@miamiluxuryhomes.com. Disclaimer: The information contained herein was retrieved from the Multiple Listing Service (MLS) on January 19, 2019 and developer floor plans. All information contained herein is for informative purposes only and should not be relied upon without representation.
Top 8 Uber-Luxe Condo Sales of 2017 (All Over $10M) Posted on January 3, 2018January 3, 2018 by Michael Light The Miami/Miami Beach luxury condo market is always a hot-button topic among real estate news outlets around the globe. And, with many people questioning the stability of the luxury market, it is important for me to point out that there were 8 condos that sold over $10 Million in Miami-Dade County in 2017 (per MLS data). And, think about this…this list does NOT include developer inventory not on the MLS, which, if I had access to, would make this number much higher. Topping the list for a second consecutive year was a luxury penthouse at Palazzo del Sol on the ultra-exclusive Fisher Island. In 2016, Penthouse 3 topped the list selling at $21,500,000, but the 2017 sale surpassed that by a landslide with the sale of the ultimate trophy Penthouse 2 selling for a whopping $31,261,545 in the summer of 2017. Top 8 Condo Sales of 2017 (Over $10M) #1 Palazzo del Sol PH 2 | Fisher Island | Sold for $31,261,545 Closed on 05/04/2017 9,715 SF Living Area | 8,595 SF of Terraces 7 Bedrooms | 7.5 Bathrooms Sold for $3,217.86 Per Square Foot #2 Porsche Design Tower PH 5601 | Sunny Isles Beach | Sold for $25,000,000 Closed on 03/31/2017 9,560 SF Living Area | 6,515 SF of Terraces | 3,328 SF of Garage Space 4 Bedrooms + Den | 6.5 Bathrooms Sold For $2,615.06 Per Square Foot #3 Palazzo del Sol Unit 7053 | Fisher Island | Sold for $16,500,000 Closed on 12/01/2017 9,826 SF Living Area | 1,797 SF of Terraces 7 Bedrooms | 7.5 Bathrooms Sold For $1,679.22 Per Square Foot #4 Faena House Unit 9A | Miami Beach | Sold for $12,500,000 Closed on 01/12/2017 4,730 SF Living Area | 1,516 SF of Terraces 5 Bedrooms | 6.5 Bathrooms Sold for $2,642.71 Per Square Foot #5 Faena House Unit 6A | Miami Beach | Sold for $13,000,000 Closed on 12/28/2017 4,720 SF Living Area | 1,526 SF of Terraces 5 Bedrooms | 6.5 Bathrooms Sold for $2,754.24 Per Square Foot #6 Oceana Bal Harbour UPH 02E | Bal Harbour | Sold for $14,490,000 Closed on 03/03/2017 6,145 SF Living Area | 4,957 SF of Terraces 3 Bedrooms + Den | 6.5 Bathrooms Sold for $2,358.01 Per Square Foot #7 W South Beach UPH 5 | South Beach | Sold for $10,200,000 Closed on 06/12/2017 2,912 SF Living Area | 690 SF of Terraces 3 Bedrooms | 3 Bathrooms Sold for $3,502.75 Per Square Foot #8 Regalia Unit 37 | Sunny Isles Beach | Sold for $10,100,000 Closed on 02/07/2017 5,515 SF Living Area | 2,085 SF of Terraces 4 Bedrooms | 5.5 Bathrooms Sold for $1,831.37 Per Square Foot If you are interested in learning more about luxury condos in Miami, please contact Broker Associate, Michael Light, Senior Director of Luxury Sales at Douglas Elliman Real Estate and Founder/Owner of the Miami Luxury Homes Group at Douglas Elliman. You may reach Michael directly at (305) 350-9842 or michael@miamiluxuryhomes.com. Disclaimer: The information contained herein was retrieved from the Multiple Listing Service (MLS) on January 2, 2018 and developer floor plans. All information contained herein is for informative purposes only and should not be relied upon without representation.
Top 11 Ultra-Luxe Condo Sales of 2016 (All Over $10M) Posted on January 29, 2017 by Michael Light The Miami/Miami Beach condo market is always a hot-button topic among real estate news outlets throughout the country and globally. And, with many people questioning the stability of the luxury market, I just want to point out that in 2016, there were 11 condos that sold (per MLS data) in Miami-Dade County over $10 Million. The chart below lists these condo sales which was topped off by an exquisite penthouse at Palazzo del Sol on the ultra-exclusive Fisher Island. Top 11 Condo Sales of 2016 (per MLS data) Topping the list at #1 was Penthouse 3 at Palazzo del Sol on prestigious Fisher Island, which sold for a whopping $21,500,00! This penthouse consists of 6,644 square feet of interior living space offering 4 bedrooms, 4 full bathrooms, 1 half bathroom, theater, living room, dining room, family room, study and laundry room. This penthouse also boasts 6,410 square feet of terrace space that includes a rooftop terrace with stunning water views. So, with the top 11 condo sales in Miami-Dade closing at a volume of $147,294,044 with an average price per square foot of $2,103.55, it seems that ultra-luxury, waterfront condos are still in high demand! If you, or someone you know, are interested in luxury condos in Miami, Miami Beach or Fisher Island, please contact Michael Light of Douglas Elliman. You may reach Michael on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.
Fisher Island’s Palazzo del Sol is 58% Sold & on Track for Q1 2016 Completion Posted on November 20, 2015January 4, 2019 by Michael Light Palazzo del Sol, the first new construction condo development on famed Fisher Island in nearly a decade, is already 58% sold out with the concrete lifting with mud jacking in Denver CO and the rest of construction rapidly progressing and closings scheduled for Q1 2016. Palazzo del Sol is a 6-star, 10-story, luxury condo building situated on a 4.5-acre waterfront site on the most exclusive island in South Florida, Fisher Island. Palazzo del Sol, designed by Miami starchitect Kobi Karp, consists of only 47 bespoke residences featuring private elevators, imported Italian Lualdi doors, Italian Boffi kitchens with premium Gaggenau appliances, spa-inspired marble master bathrooms with Dornbracht and Duravit fixtures, Apure lighting systems by Porsche Design Studio and immense luxury outdoor terraces with expansive views of Biscayne Bay and the Atlantic Ocean. Palazzo del Sol is surrounded by lush landscaping exclusively designed by Swiss landscape architect Enzo Enea and the grand lobby and indoor spaces are designed by Antrobus + Ramirez. Palazzo del Sol offers unprecedented luxury amenities and services including bespoke multi-lingual concierge services, first-class fitness center with complimentary yoga and Pilates classes, private movie theater, outdoor oceanfront café, immense swimming pool with private cabanas and a complimentary golf cart for every luxury residence. Download Palazzo del Sol Luxury Condos Brochure Only 18 of the 47 luxury residences at Palazzo del Sol remain available for sale with only 40% of the purchase price required at contract signing (remainder of purchase price due at closing in the first quarter of 2016). If you, or someone you know, are interested in purchasing a luxury condo at Palazzo del Sol on Fisher Island, please contact Michael Light. You may reach me at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Palazzo del Sol is scheduled for completion and delivery during the first quarter of 2016. Fisher Island Map Highlighting Site of Palazzo del Sol Source: Renderings and information courtesy of Palazzo del Sol Sales Office.
Top 25 Most Expensive Miami Condo Sales of 2014 Posted on January 15, 2015 by Michael Light Top 25 Most Expensive Miami Condo Sales of 2014 Since the crash of the market in 2008, many people question the stability of the luxury condo market in Miami even though the Miami condo market has shot back up to the top in a short amount of time. If you don’t believe me, check out the statistics from 2014…numbers don’t lie! In 2014, there were 1,087 Miami condo sales of $1M or above which accounted for 6.1% of the 17,834 total condo sales. Moreover, the chart above is a list of the Top 25 most expensive condo sales in Miami in 2014, to further confirm the high demand for ultra-luxury condos in Miami. The total sales volume for these Top 25 condos is a whopping $276,015,000 with an average of 261 days on the market. These condo residences had an average price per square foot of $2,434.79 and a median price per square foot of $2,333.23. To top the list at #1 was Continuum South Beach South with its $27.5M sale of units 3602 | 3603 | 3604 combined into one luxurious, mega condo. Continuum South Beach consists of 2 exclusive, gated towers and sits on 12 acres of pristine, oceanfront land. Continuum South Beach offers a truly 5-star lifestyle. Whether you pamper yourself in the European spa, take a Pilates class in the private, three-story Sporting Club or work with a tennis pro on one of the three championship clay tennis courts, Continuum South Beach has something exceptional for everyone. In addition, 12 of the Top 25 Miami condo sales came from Miami Beach, with 5 on Fisher Island, 4 in Bal Harbour (all of which were at St. Regis Bal Harbour), 2 in Sunny Isles Beach and 1 in Key Biscayne. Also, Coconut Grove made the list with the sale of unit 3001 at Grovenor House which was also #1 on the list of the 25 most expensive Coconut Grove real estate sales of 2014. Additionally, my St. Regis Bal Harbour sale almost made the Top 25 list. Ranking as the 32nd most expensive condo sale in Miami in 2014, was my sale at the luxurious, St. Regis Bal Harbour Residences. I sold Unit 1901 in the North Tower at St. Regis Bal Harbour in March of 2014 for $6.5M, decorator ready. This gorgeous, 3 bedroom plus den, 3.5 bath condo boasts 3,884 square feet of interior space with 1,332 square feet of terrace space overlooking the breathtaking Atlantic Ocean. Aside from the stunning residences, St. Regis features unparalleled amenities and views and is one of the most exclusive condo buildings in South Florida. St. Regis Bal Harbour Condo Residences If you, or someone you know, are interested in purchasing a Miami luxury condo, it is imperative that you work with a real estate agent who specializes in the Miami condo market. So, please call me, Michael Light of Miami Luxury Homes, to help you with all of your Miami real estate needs. You may contact me at my office at (305) 350-9842, on my cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com. Disclaimer: All of the statistics referenced herein were retrieved from the Multiple Listing Service (MLS) on January 15, 2015.