Safe investment? Wackenhut heir flips Fisher Island penthouse for $21M

Janice Wackenhut paid $15M for the unit a year ago

Miami /
Aug.August 17, 2021 03:30 PM
Janice Wackenhut and the Fisher Island property (Facebook via Wackenhut, Pablo Alfaro Group)

Janice Wackenhut and the Fisher Island property (Facebook via Wackenhut, Pablo Alfaro Group)

It turned out to be a safe investment for Wackenhut security heir Janice Wackenhut, who flipped her Fisher Island penthouse for more than $6 million above her purchase price a year ago.

The daughter of the late George Wackenhut, via a trust in her name, sold unit 5203 at Bayview Fisher Island to Andrew and Dana Stone for $21.2 million, property records show. Wackenhut acquired the five-bedroom, 9,570-square-foot condo in August of last year for $15 million. That’s a 41 percent increase.

Andrew Stone is a real estate portfolio manager and financier. The New York-based Petra Capital Management founder has financed developments of former President Donald Trump, Harry Macklowe, Ian Schrager and Steve Witkoff while he worked at Credit Suisse.

The Wackenhut Corp., founded in 1954 in Coral Gables, was acquired by a Danish company in 2002 for $570 million. It became G4S Wackenhut, and then G4S Secure Solutions.

The Fisher Island penthouse features its own gym, separate staff apartment, wraparound balcony, library, a swimming pool, five parking spaces, two golf carts and direct elevator access.

Douglas Elliman’s Pablo Alfaro represented Janice Wackenhut, while Debra and Eyal Golan, also with Elliman, represented the Stones.

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

Recent deals on Fisher Island include Tiger Aircraft Trading’s two purchases at Palazzo Della Luna totaling nearly $26 million.

Former Australian Open champion Caroline Wozniacki and ex-New York Knick David Lee upgraded to a penthouse at Palazzo Della Luna’s sister property, Palazzo Del Sol, after selling a different unit in the luxury complex.





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