An exclusive Miami island is getting a slew of $30 million-plus condos — and you have to be invited to buy them

Fisher Island, just south of Miami Beach, has about a private golf course, a tennis court, and two marinas for its about 600 full-time residents.

Related Group and its partners have closed on the last developable parcel of land on Fisher Island.
They are planning a 50-unit condo building that will be shown to buyers on an invite-only basis.
A typical residence will cost $30 million, while penthouses will seek upwards of $60 million.

A major Florida developer is one step closer to breaking ground on what might be its most ambitious project to date: A building with 50 condos on Miami’s posh Fisher Island.

It isn’t the scope of the development that makes it so noteworthy, but the fact that Related Group — a major force behind Miami’s luxury condo boom — is making the homes available to buyers by invitation only.

Fisher Island, a seven-minute ferry ride south of Miami Beach that sits at the intersection of Biscayne Bay and the Atlantic Ocean, has long been the stomping ground of the elite.

It’s only reachable by ferry or by boat — or, let’s face it, often by yacht.

Wealthy people can be discreet about their mansions, but we know that Oprah, Julia Roberts, and Mel Brooks are former Fisher Island residents. The enclave has also won some superlatives: Bloomberg determined Fisher Island was America’s wealthiest ZIP code in April 2018, with an average income of $2.5 million in 2015.

But opening a property only to those deemed worthy brings a whole new level of exclusivity to the already-posh island (population: 561).

“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 …read more

Source:: Businessinsider

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