Stunning Fisher Island Home for Sale for $14 Million

Imagine yourself living in a beautiful waterfront condo, located in the most expensive zip code in the country, at 7412 Fisher Island Drive. This two-story, 5 bed, 6.5 bath home is comprised of two units with a combined 6,298-square-feet of space. The home features magnificent indoor and outdoor living, impeccable custom his-and-hers closets, an opulent kitchen with a dine-in breakfast table and a scenic, bright ocean view along with private beach access. The exuberant home includes a hand carved wall of antique built-ins, custom made in India with an elegant natural stone color and intricate detail. This accessible unit offers a broad balcony that illuminates the pristine, oceanfront living, which is further accentuated by a relaxing salt water fish tank in the living room. The $250K equity membership fee opens up access to 216-acres of pristine paradise and exclusive amenities including, golf, tennis, dining options, a private beach and marina plus a fitness center and spa.

This extravagant home is listed by ONE Sotheby’s International Realty agent Elena Bluntzer for $14 million.

Article by: Katya Demina & Stephanie Warren

The Kobi Karp-Designed Ultra-Luxe Condo Palazzo Della Luna Tops Out On The Private Fisher Island

Palazzo Della Luna, located on the last waterfront parcel at the extremely private and ultra-luxurious Fisher Island, has officially topped off at 10-stories. The ultra-luxury boutique condominium, which launched sales in February 2018, offers 50 residences which range from 3 to 7-bedroom floor-plans. The project is being developed by PDS Development, LLC and veteran developer Heinrich von Hanau, with construction being overseen by ASR Construction, LLC. Palazzo Della Luna is slated for completion in summer 2019. Pricing at the opulent property is averaging over $2,000 SF.

Palazzo Della Luna was designed by local Miami starchitect Kobi Karp and features interiors by the NY-based Champalimaud Design. Finishes include gilded glass, statuary marble, terrazzo and cerused oak. Residences also feature private elevator access, contemporary flow-through floorplans, deep outdoor terraces, floor-to-ceiling glass and 10' to 15' ceilings which amplify for natural light, all with breathtaking views of the ocean, bay, city skyline and Fisher Island golf course. Palazzo Della Luna also offers a $40 million, 7-bedroom penthouse, which is the most expensive listing on the island. 

Palazzo Della Luna and its sister building, the sold-out Palazzo Del Sol which delivered last year, will be joined by a lush central park. Karp envisioned a lush garden with a serenity yoga lawn, outdoor gardens and a bocce ball court. Karp also designed the porte-cochère entrances to be adorned with multilevel hanging gardens and tropical vines, while vanishing-edge pools and huge cabanas further the feel of a six-star resort.

Strong Sales Reported At The Kobi Karp-Designed Ultra-Luxury Palazzo Del Sol On The Exclusive Fisher Island

Kobi Karp, globally recognized among the best and most influential sustainable architecture design firms, has sparked a buying frenzy in America’s most expensive zip code, Miami's Fisher Island. The surge is attributed to Karp’s groundbreaking vision for the properties where buyers are seeking Karp's opulent waterfront design at now sold-out Palazzo Del Sol and soon-to-be-built Palazzo Della Luna. The buildings are sited on Fisher Island’s last-remaining waterfront parcel and feature prices averaging $2,000 SF. 

Since their respective launches, each condominium building has reported tremendous demand among the global elite. In 2017, a penthouse in Palazzo Del Sol, home to billionaire and former Hasbro CEO Alan Hassenfeld, former Formula One driver Enrique Bernoldi, sold for a record-breaking $35 million. Palazzo Della Luna, which launched sales in February, will feature a stunning collection of three to seven-bedroom residences with panoramic views, including a $40 million penthouse, which will be the highest-priced listing ever recorded on the island.

“I designed both properties to exceed the expectations of owners…and the response has been phenomenal,” said Karp. “I put added emphasis on creating a lifestyle experience that is otherwise unmatched. Fisher Island is one of the world’s grandest addresses, but it’s still an island. That’s why I created a type of barefoot elegance and ambiance that can only be reserved for this oasis.”

Karp was inspired by the historic Vanderbilt mansion on Fisher Island from which he took the traditional DNA and charm of the Mediterranean Italianate property, then infused the designs with modern architecture. His designs marked by contemporary sophistication seamlessly draw the outdoors inside. Residences feature private elevator access, contemporary flow-through floorplans, finishes of Beachwood and coral stone, deep outdoor terraces, floor-to-ceiling glass and 10' to 15' ceilings amplify for natural light, all with breathtaking views of the ocean, bay, city skyline and Fisher Island golf course. 

The 10-story amenity-rich buildings will be joined by a lush central park, which Karp envisioned to include a serenity yoga lawn, outdoor gardens and a bocce ball court. Karp also designed the porte-cochère entrances to be adorned with multilevel hanging gardens and tropical vines, while vanishing-edge pools and huge cabanas further the feel of a six-star resort.

Karp’s designs have garnered the accolades of international critics as Palazzo Del Sol was recently named the “Best Residential Development in the United States” by International Property Awards.

Fisher Island Has Been Named The Highest Earning ZIP Code in The United States

The detrimental effects of continued and increasing state tax in high tax northern states such as New York and Connecticut is beginning to show its effects and fast. Connecticut and Manhattan were once home to numerous Wall Street big wigs and high income earners, yet residents have either fled to states such as Florida where the state is funded off of property tax and sales tax amongst others. While Greenwich, CT is still in the top 20, as is its Riverside neighborhood, Manhattan failed to crack the top 20 with any neighborhood.

Taking the cake, Miami’s ultra-luxe, hyper-private, ferry accessible Fisher Island 33109. Ask where the new residents are moving from and you will hear what you would expect, New York, Connecticut and New Jersey. Fisher Island has always attracted the rich and private, but in just a short timeframe they neighborhood has catapulted itself to a lead of over $1 million more of annual income per household at an astonishing $2.5 million per year.

Fishr Island has a fascinating history, named after South Florida pioneer and founder of Miami Beach Carl G. Fisher who purchased the island from Dana A. Dorsey, Florida’s first African American millionaire. Fisher later traded the island for William Vanderbilt’s yacht. The development that transformed the island into its current form began in the 1980’s and although there are now just over 220 properties on the island, by modern standards the island is just as exclusive only accessible by boat, ferry or helicopter.

Fisher Island’s 33109 is followed by Silicon Valley’s Atherton, CA (94027); Palm Beach, FL (33480); Palo Alto, CA (94301); Harrison, NY (10577); Gladwyne, PA (19035); Los Angeles, CA (90067); Kenilworth, IL (60043); Weston, MA (02493); San Francisco, CA (94111); Far Hills, NJ (07931); Boston, MA 02110); Portola Valley, CA (94028); Moose Wilson Road, WY (83014); Naples, FL (34102); Medina, WA (98039); Riverside, CT 06878); Old Westbury, NY (11568);  Glencoe, IL (60022), and in twentieth, Greenwich, CT (06831), according to a Bloomberg study of IRS data. 

Bitcoin Has Officially Entered The World Of Luxury Real Estate

Cryptocurrency is at the forefront of investing in today’s news, but ill-informed stakeholders have taken prices for a wild ride. Famously, bitcoin peaked at $19,500 in December 2017, only to fall to $7,000 a month later. Despite its instability, cryptocurrency has penetrated the retail market with over 100,000 merchants accepting bitcoin as payment, including Microsoft, Expedia, and Tesla. 

Now you can buy real estate with cryptocurrency and the process is relatively easy; buyer and seller must simply agree on a price and find title and escrow companies willing to work with virtual currency. The first single-family home sale involving bitcoin was announced in 2017 and parties completed the transaction using BitPay, a payment service that allows you to convert bitcoin into U.S. dollars. 

The exclusive Fisher Island, home to billionaires and celebrities alike, is attempting to bring bitcoin to the luxury home market. Unit 2333 in Bayside Village is a two-bedroom, two-and-a-half bathroom condo listed for $2.05 Million, or its bitcoin equivalent. The opulent, oceanfront condo offers spectacular natural lighting and extensive views of the Atlantic, Biscayne Bay, and Miami Beach skylines. If the buyer opts to pay in bitcoin, this would mark the first sale of a luxury home in bitcoin and would reinforce the security of the cryptocurrency’s future and set precedent for its impact on the global real estate market.

Real estate is a reliable outlet for established cryptocurrency investors who are looking to diversify into asset-backed investments. "The driving force behind the decision to list this property for bitcoin is to broaden the horizons for both buyers and sellers,” says Robert Volé, property owner and broker for The Island Realty. "We're looking at the evolution of both the marketplace and the buyer, while offering a new experience for sellers, many of whom are always looking at alternate means of liquidity.” Volé has over 25 years’ experience in developing, speculating and owning a number of properties on Fisher Island and South Florida. 

Despite Volé’s optimism, the lack of regulation is a source of hesitancy to using cryptocurrency for real estate transactions, especially given Miami’s notoriety as being a haven for money launderers. There is also a lack of clarity in how capital gains from bitcoin will be taxed when the IRS has no procedure regulating the reporting of these transactions. Investor magnate Warren Buffett warned that the cryptocurrency craze is destined to end badly. It remains to be seen if a volatile currency like bitcoin that has fluctuated in value some 45 percent in three months is stable enough for large real estate transactions. 

The unit is co-listed by Robert Volé and Elena Vertlib of The Island Realty. 

Article by Katya Demina

Fisher Island's Palazzo Del Sol Named Best Residential Development in U.S. By International Property Awards

Fisher Island's Palazzo Del Sol is proving to deliver, bringing fresh new residential options to the highly-exclusive, luxurious, private island. Shortly after being awarded International Property Awards' Best Residential Development in Florida, Palazzo Del Sol has been named the International Property Awards' Best Residential Development in the United States. After several rounds of judging, the property beat out some of the country’s most prestigious single and multifamily homes, winning this coveted award for its incredibly high design, unrivaled white-glove services and luxurious, next-level amenities. For over 20 years, the International Property Awards has celebrated the highest level of excellence in the real estate, architecture and interior design industries. Palazzo Del Sol was completed in 2016 and was developed by Heinrich von Hanau's PDS Development, LLC. Hanau curated an world-acclaimed team including former International Property Awards winners Antrobus + Ramirez to oversee the interior design, landscape architect Enzo Enea, architect Kobi Karp and general contractor ASR Construction. The five-star boutique condominium features 43-ultra-luxury residences which feature unobstructed views of the Atlantic Ocean, South Beach, Biscayne Bay and Downtown Miami to its well-heeled part-time and full-time residents, thanks to its prime location on a 4.5-acre waterfront parcel on Government Cut, the entrance to Miami’s port where the bay meets the ocean. Current availability includes select units priced from $6.5 million. Palazzo Del Sol residents enjoy a suite of indulgent amenities including a waterfront butler-serviced aperitivo bar and lounge, private movie theater, hair and makeup salon, private massage rooms, state-of-the-art fitness center designed by The Wright Fit, Kidville-designed children’s playroom, business center and contemporary pool terrace with towel attendant and cabanas. Residents also receive a custom-designed Garia golf car upon closing. 

Featured Listing: 7413 Fisher Island Drive Unit 7413

One of the most finely finished units on Fisher Island has taken a 20% price cut to $16.9 million. The 7,696 SF, 5 bedroom, ground floor, "center stack" residence is finished with Jerusalem stone floors, Venetian Plaster walls and hand painted wall and ceiling murals make this one of the most unique units currently on the market. The unit also includes a custom bar, formal dining room, chef's kitchen, wood-paneled study, 800-bottle wine cellar, master suite with marble master bath as well as over 5,300 SF of outdoor space complete with a private infinity pool. Stunning views of Miami Beach, the Atlantic Ocean and Government Cut throughout as well as one-of-a-kind direct beach access via private stairway. The unit was originally listed for $30 million in 2011 before dropping to $21 million and now $16.9 million with the Jills of Coldwell Banker Real Estate. Photos via Coldwell Banker Real Estate. 

Featured Listing: Fisher Island 4-Bedroom Asks $10.8 Million

A four-bedroom unit at Fisher Island's Palazzo Del Mare is is asking $10.8 million. The unique unit is 5,040 SF of indoor space and 4,000 SF of outdoor space and comes complete with a poolside cabana, three parking spots and two golf carts. Unit 7111 is a 4 bedroom with 5 full bathrooms and one half-bath. The unit also has a summer kitchen and private outdoor hot tub. It has luxurious contemporary finishes, natural stone, high ceilings, large master suite, library and sweeping views of South Beach and the Atlantic Ocean. Listing and photos by One Sotheby's International Realty. 

Fisher Island Townhouse Listed for $3.75 Million

A rare two story townhouse on Fisher Island has listed for $3.75 million. The residence features 3 bedrooms and 3 full bathrooms with one half-bath over 3,164 SF. There are only two of these layouts on fisher island with high double-floor ceilings and expansive bay and city views. It has a chef's kitchen, private elevator, large master-suite, large terrace and spiral staircase. The home is also available for rent at $24,000 per moth. Fisher Island features a private luxury community on an island only accessible by ferry or boat. Amenities include a 9-hole golf club, tennis club, pool and beach club, multiple restaurants, cafe, grocery store, marina and hospital among others. It is currently listed with Elena Bluntzer of ONE Sotheby's International Realty. Photos by ONE Sotheby's International Realty. 

Fisher Island's Palazzo Del Sol Penthouse 2

One of the most excusive communities in South Florida, Fisher Island, has delivered its new Palazzo Del Sol project and it is simply stunning. PH2 is one of the crown jewels of the island, at 9,715 SF indoor, 8,595 SF outdoor and a whopping $38.5 million price tag. The unit features 7 bedrooms, 8 bathrooms, private rooftop, pergola, jacuzzi and summer kitchen. Photos and listing by Douglas Elliman.