The US arm of French perfume mogul Jean Madar’s Madar Group sold three homes at the Mansions on Fisher Island, asking a combined $105.5 million.
Madar Group USA, led by CEO David-Emmanuel Cohen, said that leaves just three single-family homes for sale within the 2.5-acre development.
The three homes under contract are all under construction and expected to be completed between the end of this year and the second quarter of 2027, according to a news release. Buyers signed contracts for two of those homes within the last 30 days, Cohen said. The first contract was signed in 2024. The asking prices for two of the homes is $36.5 million, and one is $36 million.
Fisher Island, a private island off the coast of Miami Beach, is known for its exclusivity. The majority of the island is made up of condo buildings. Fisher Island also has a private club, a school, golf course and beaches. It is accessible only by boat, ferry or helicopter. A new beach club is under construction on the island. The buy-in for the private membership club is $500,000, Cohen said.
Madar acquired the properties from developer Heinrich von Hanau for $40 million in 2024, and tapped Douglas Elliman’s Fredrik Eklund and Dina Goldentayer to lead sales and marketing. Dora Puig of Luxe Living Realty took over sales and is now the listing broker for all the homes.
Cohen’s grandfather, Raoul Madar, founded the Madar Group in France in 1958. It’s now led by Cohen’s two uncles, Jean and Alain Madar. Jean Madar co-founded Interparfums in 1982, and the multibillion-dollar company has become a major creator and distributor of perfumes, including fragrances for Oscar de la Renta, Van Cleef & Arpels, Coach, Moncler, and Abercrombie & Fitch, among others.
The Mansions on Fisher Island range from 8,500 square feet to more than 18,000 square feet. One of the homes listed will span about 18,000 square feet on a half-acre lot that will mark the largest single-family home on Fisher Island. It’s on the market for $57 million, Cohen said. The starting price for the remaining houses is $34 million.
Cohen declined to identify the buyers so far, but he said they are a mix of international and domestic buyers. The developer has seen interest from buyers in California seeking safety and security on Fisher Island.
“Our buyers are younger than what we had imagined at the beginning of the project,” Cohen said, adding that some are in their 40s.
Portuondo Perotti Architects designed the houses, which will have custom kitchens, private elevators, office suites and four-car garages, according to the release. ASR Construction is the general contractor. The firm also completed Palazzo Della Luna, Palazzo Del Sol, Palazzo del Mar on Fisher Island, luxury condo developments that Puig was also involved with as the listing broker.
The Mansions project marks the only new single-family home development on Fisher Island. The other single-family homes on the island were built in the 1990s.
“There is no more land on Fisher Island” for single-family homes, Cohen said.
Cohen said he is looking for more sites to expand the Mansions brand.
The Related Group and partners, billionaire Teddy Sagi, the Toledanos’ Aventura-based BH Group and Chicago-based Wanxiang America, are building Residences at Six Fisher Island, an ultra luxury condominium project. They financed construction of the 10-story, 50-unit building with a $400 million construction loan, and it’s expected to be completed in 2026.
Last year, Chicago-based HRP Group paid $180 million for a nearly 10-acre fuel depot that it plans to redevelop into luxury condos. But future plans for the site are at the center of a fight involving Miami-Dade County, which planned to seize the property via eminent domain. Fisher Island Club and Fisher Island Community Association sued the county earlier this year.
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