The Real Deal Miami

Developers ask record $40M for Fisher Island penthouse

If the penthouse at Palazzo Della Luna fetches $40M, it would top the $31.26M price a Russian paid last year for another Fisher Island condo
April 21, 2018 02:45PM

Rendering of Palazzo Della Luna

The developers of luxury condominium Palazzo Della Luna on Fisher Island plan to offer its priciest penthouse for $40 million, which would be a record condo price on the exclusive island.

Miami developer Heinrich von Hanau and PDS Development expect to complete construction of the 50-unit condominium in the summer of 2019.

They launched sales earlier this year but just started marketing the most expensive unit: a seven-bedroom, eight-bathroom penthouse that will have 10,194 square feet of interior space plus 7,322 square feet of wrap-around terraces and rooftop space.

The design of the penthouse features two powder rooms. 15-foot-tall ceilings, a stainless-steel swimming pool and an outdoor summer kitchen. The condo will come with an air-conditioned, two-car garage and Tesla electric car charger.

The penthouse that might fetch $40 million also will have 360-degree views of the Miami skyline and the Atlantic Ocean.

Dora Puig, the condominium project’s director of sales and marketing, told the Wall Street Journal that a Russian last year bought a penthouse at Palazzo Della Luna’s sister development, Palazzo Del Sol, for $31.26 million, the highest price so far for a Fisher Island condo.

A seven-minute ferry ride from Miami Beach, Fisher Island is one of the richest Zip Codes in the nation.

Jonathan Miller, an appraiser with Miller Samuel, told the Wall Street Journal that eight residences on Fisher Island have sold for more than $10 million each since 2015. [Wall Street Journal]Mike Seemuth