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Deals & Dealmakers

Related Group, Teddy Sagi and BH Group Close on Last Development Parcel on the Iconic Fisher Island 

Development leader Related Group – along with partners Teddy Sagi, BH Group and Wanxiang America RE Group – today closed on the purchase of Six Fisher Island Drive, the last available development site on Miami Beach’s historic Fisher Island. The deal paves the way for the development of the island’s most exclusive property to date, consisting of only 50 condominium homes and boasting designs from Tara Bernerd and Partners and Kobi Karp Architects.

“This is a project more than 40 years in the making,” said Jon Paul Pérez, Related President. “It is a privilege to work in a community with as much history and tradition as Fisher Island – it’s the type of opportunity our team dreams of. We look forward to delivering a truly special project that raises the island’s pedigree even higher.” 

While this soon-to-be-revealed condominium is set to offer the same world-class approach to design, architecture and amenities that define Related’s countless developments, the project will also feature a heavy emphasis on community. As such, the property’s sales – expected to begin by end of year – will be invite-only.

“We are not content with simply building a beautiful tower. We want to build a sense of belonging,” said Isaac Toledano of BH Group. “Fisher has long been known for its village-like atmosphere and we’re confident our curated sales approach will help further that experience.”

The 216-acre fisher island is located directly off the coast of Miami Beach and is only accessible via ferry or watercraft. It has long been known as one of the country’s most exclusive communities, featuring a private golf course and beach, as well as a variety of lavish amenities, from butler service to a member-only restaurant. The man-made island has been home to many of Miami’s most notable figures, including the heir to railroad fortune William K. Vanderbilt. It has also been the backdrop to some of the region’s most high-profile real estate listings. 

“Fisher Island is iconic not only in South Florida, but the world at large. To be developing on the island at such an important time in Miami’s growth is a responsibility we do not take lightly,” said Larry Krueger, Managing Director for Chicago-based Wanxiang America RE Group. “This is a property that will define Fisher Island’s story for generations to come.”

This is the latest acquisition for the Related, Teddy Sagi and BH joint venture, closely following high-profile purchases in West Palm and the City of North Miami. The powerhouse firms continue to aggressively pursue additional joint opportunities throughout South Florida.

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