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Partnership Closes on Last Development Parcel on Fisher Island for Reported $123M
According to a BusinesWire report, Related Group — along with partners Teddy Sagi, BH Group and Wanxiang America RE Group — has closed on the purchase of Six Fisher Island Drive, the last available development site on Fisher Island in Miami, FL. The developers plan a 50-condominium property.
Separately, CBRE distributed a news release reporting its arrangement of the sale of Fisher Island’s last remaining development site for $122.6 million. Timothy Gifford and Nilmaris Negron with CBRE represented the seller, identified as a private investor, in the transaction.
The 216-acre Fisher Island is located directly off the coast of Miami Beach and is only accessible via ferry or watercraft. It has long been known as one of the country’s most exclusive communities, featuring a private golf course and beach, as well as a variety of lavish amenities, from butler service to a member-only restaurant. The man-made island has been home to many of Miami’s most notable figures.
“This is a project more than 40 years in the making,” said Jon Paul Pérez, Related president. “We look forward to delivering a truly special project that raises the island’s pedigree even higher.” The property’s sales will be by invitation only.
- ◦Development
