Co-owner of NBA and NHL teams sells Fisher Island condo
The unit traded for $5.95M, a slight decline from its $6.1M sale in 2005
A co-owner of the Washington Wizards and Washington Capitals sold his Fisher Island condo at a slight discount from its purchase price in 2005.
A company managed by Raul Fernandez sold the 4,449-square-foot unit at 7600 Fisher Island Drive for $5.95 million to Fisher Paradise LLC, which is tied to Jeremie Urbain of Aventura. The sale equates to $1,337 per square foot.
The condo, unit 7671, has five bedrooms and five bathrooms. The property was last purchased for $6.1 million in 2005, records show.
Fernandez is vice chairman and owner of Monumental Sports & Entertainment, which owns parts of the WNBA’s Washington Mystics, the NHL’s Washington Capitals and the NBA’s Washington Wizards. Fernandez is also a limited partner in General Atlantic Partners, a growth equity firm with more than $35 billion under management, according to Fernandez’s LinkedIn.
With limited options for new development, condos on the island command high prices. PDS Development, led by Heinrich von Hanau, completed the 50-unit Palazzo Della Luna on the Island last year. A unit at the luxury condo development sold in September for $17 million.