The Real Deal Miami

Mexican entity chops asking price of Fisher Island condo to $17.5M

Unit last sold for close to $9M in 2007

July 15, 2016 03:00PM

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Fisher Island Palazzo unit

Palazzo del Mare unit 7192

A ninth-floor unit at Palazzo del Mare has been relisted for a reduced price: $17.5 million, or nearly $2,500 per square foot. 

A Mexico City-based company, FI Realty Corp., chopped the asking price of the six-bedroom, 7,025-square-foot unit on Fisher Island. The condo offers 360-degree views of the ocean, Government Cut, the bay and South Beach, smart home features, tall ceilings, and marble floors and countertops. It was first listed for $22 million in August and reduced to $18.5 million in January, according to Redfin.

Property records show the owner paid $8.9 million for unit 7192 at 7192 Fisher Island Drive in 2007, the year the 32-unit building was completed. It also includes a custom bar, private elevator, wine coolers, fireplace, gourmet kitchen, media and family rooms, and a home office, the listing shows. The $17.5 million ask includes the private garage and cabana.

Karla Abaunza of Luxury Living Realty is the listing agent.

Also on the market at Palazzo del Mare is unit 7153, listed earlier this year for $20 million. The five-bedroom unit is the same size as 7192 and will be completed in December, when the ask will be increased to $23 million.

This year, the first condo project to be built on the Island in close to a decade was delivered. Heinrich Von Hanau developed Palazzo del Sol, a 10-story 47-unit building, and is already working on the next: Palazzo della Luna. Katherine Kallergis