Related ups ask for planned Fisher Island penthouse to $90M

Related previously said penthouse would be priced at $60M

Jon Paul Pérez with an aerial of Fisher Island (Google Maps)
Jon Paul Pérez with an aerial of Fisher Island (Google Maps)

A penthouse at a yet-to-be-built luxury condo development on Fisher Island is asking $90 million. The price, if a buyer pays it, would set a record for condo sales.

That breaks down to $6,000 per square foot for the 15,000-square-foot unit, at the planned 50-unit Six Fisher Island building. It would include its own pool and roof deck, the Wall Street Journal reported. The current Miami-Dade County price-per-foot record, close to $5,800 a foot, is held by a sale at the Four Seasons Residences at The Surf Club in Surfside earlier this year.

Related Group, the developer, previously said penthouses would start at $60 million, which means it increased the price by 50 percent. Six Fisher Island is expected to be the priciest on a per-unit basis in South Florida, as well as on Fisher Island.

Related has met with 20 families, many of whom typically pay all cash, to purchase some of the more expensive units at the project on Fisher Island, according to the Wall Street Journal. Asking prices for the units, excluding the penthouse, are at about $5,000 per foot, sources told The Real Deal. That could mean prices start at $19 million.

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Jorge Pérez’s Related, billionaire Teddy Sagi, BH Group and Chicago-based Wanxiang America RE Group paid $122.6 million for the 6.5-acre site in September. Fisher Island developer Heinrich Von Hanau sold the property, which marks the last condo development site on the ultra-wealthy island off of Miami Beach.

Related tapped Douglas Elliman’s Cyril Matz, Oliver Lloyd, Lourdes Alatriste and Nirka Burns Padilla to lead sales and marketing of the project, TRD reported last week. Sales are invitation-only.

The condos will range from three to eight bedrooms, and from 3,800 square feet to nearly 16,000 square feet. The building, designed by Kobi Karp Architecture & Interior Design with interiors by Tara Bernerd Partners, will have more than 55,000 square feet of amenities.

— Katherine Kallergis