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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.
Ritzy Fisher Island is consistently ranked as America’s wealthiest zip code and can only be reached by ferry, boat or helicopter.
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.