Fisher Island condo takes 14% price chop

The founder of Safeway Insurance wants just under $12M for the 6,618-square-foot villa with bay views

5112 Fisher Island Drive
5112 Fisher Island Drive

The founder of Safeway Insurance knocked about 14 percent off the asking price for his 6,618-square-foot home on Fisher Island.

Listing agent Robert Conway of Douglas Elliman said the asking price is now slightly less than $12 million, down from nearly $14 million in November, when the condo was listed by another brokerage, Mansion Global reported. Conway called the original ask “overzealous.”

Sign Up for the undefined Newsletter

William Parrillo, who founded Safeway Insurance in 1959, and his wife Carol paid $5.2 million in 2004 for the condo, which has six bedrooms and eight bathrooms, in the wealthy enclave known as the wealthiest zip code in U.S. The average annual income of Fisher Island residents is $2.2 million.

The condo is a ground-floor villa on the southwest side of Fisher Island with unobstructed views of the Miami skyline and Biscayne Bay. According to the listing, the master suite has his-and-her walk-in closets and master baths. The condo also features a bar that overlooks the bay, a chef’s kitchen and a large dining room.

Fisher Island residents pay $250,000 for an equity membership that provides access to such amenities as a private marina, beach club and golf course. [Mansion Global] – Mike Seemuth