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Revved up: Auto industry family sells lakefront Palm Beach house for $27M
Fishers bought the half-acre property for $850K in 1977
In one of the final deals of the island’s busy season, auto industry heirs from the Fisher family of Michigan sold their longtime lakefront home for $27.1 million.
Records show Michael R. Fisher, Christine Fisher Grow, Judith Fisher Knudsen and Alfred J. Fisher III sold the house at 1010 North Lake Way to a trust named for the address and managed by attorney Stephanie Heilborn. The true buyer is unknown.
Lawrence Moens of Lawrence A. Moens Associates had the listing, and Christian Angle of Christian Angle Real Estate brought the buyer.
The Fishers are children of the late Alfred J. Fisher II and Betty Jane Fisher, and are heirs to the Fisher Body Company, the largest producer of auto bodies in the early 20th century, according to published reports. Its customers included Ford, Chevrolet, Buick, Cadillac, Studebaker and Oldsmobile. General Motors acquired a majority stake in Fisher Body in 1919, and fully absorbed the firm in 1926. The Fishers are a prominent family in Detroit society, and are the namesake for the city’s landmark Art Deco skyscraper, the Fisher Building.
Alfred J. Fisher III and Michael R. Fisher hold leadership positions in Fisher Dynamics, the St. Clair Shores, Michigan-based auto parts manufacturer their father and grandfather founded in 1947 after leaving their roles at General Motors.
Alfred J. Fisher II and Betty Jane Fisher bought the North Lake Way house for $850,000 in 1977, property records show. He died in 2012, and she died in 2022, and their children inherited the 5,100-square-foot house. It was built on half an acre in 1977, and has five bedrooms, four bathrooms, one half-bathroom, a pool, a dock and 110 feet of waterfront, according to records and a previous listing.
The siblings first listed the house for $38 million in 2023, and dropped the price three times before selling for $27.1 million, Realtor.com shows.
Palm Beach luxury real estate’s busy season wrapped with a string of pricey sales. The estate of late industrialist Bill Flaherty sold his lakefront home for $49.6 million earlier this month. The billionaire Hearst family sold a non-waterfront mansion for $25 million in an off-market deal in May. Also in May, Nvidia billionaire Harvey Jones flipped a lakefront lot for $50 million, exactly what he paid for it last summer.