Fisher Island developer scores approval for residential projects on exclusive island

Approvals allow for 12 single-family homes, one 57-unit condo building

Heinrich Von Hanau
Heinrich Von Hanau

Fisher Island developer Heinrich Von Hanau received approvals for two residential projects on the exclusive island.

Miami-Dade County officials recently approved zoning changes to allow for a 57-unit, 10-story condominium building at 6 Fisher Island Drive and 12 single-family homes at 68 Fisher Island Drive.

The new projects would bring the total number of residences on the island to 871, according to a press release. Fisher Island is allowed a maximum of 1,400 residential units. Kobi Karp is designing the new projects.

The homes, on 8.2 acres of land, will replace two mid-rise buildings previously planned for the eastern portion of the property. The site was originally approved for a 56-unit multifamily building. The condo building would be built on a 6.5-acre site.

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Greenberg Traurig attorneys Jorge L. Navarro, Alan Dimond and Carlos Lago, along with John O’Sullivan and Jason Sternberg from Hogan Lovells, pursued the zoning changes.

Von Hanau developed the luxury Fisher Island condo buildings Palazzo Del Sol and Palazzo Della Luna.

The companies behind the projects are owned by Valmore Trust, the beneficiaries of which are Inna Gudavadze — a businesswoman from the country of Georgia and the widow of one of Georgia’s wealthiest men, Arkady “Badri” Patarkatsishvili — and her daughters Liana Zhmotova and Iya Patarkatsishvili.

Fisher Island, one of the most expensive ZIP codes in the U.S., is accessible only by boat or ferry. The entrance fee for an equity membership at the Fisher Island Club is $250,00, and provides access to the island’s private marina, golf course, spa, restaurants, school and retail.

Last month, Safeway Insurance founder William Parrillo and his wife Carol sold their unit at Bayview Fisher Island to White & Case partner Thomas E. Lauria for $7 million. Pacific Star Capital developer Aria Mehrabi also sold his unit at Oceanside Fisher Island in September for $11 million.