Fisher Island, the exclusive island enclave near Miami Beach, is where Related Group plans to build a 50-unit condominium with a $90 million penthouse
Miami-based real-estate firm Related Group is asking $90 million for a penthouse atop the luxury condominium it is developing on nearby Fisher Island—a price that would smash all sales records for condos in the Miami area.
Related is building the boutique condominium with roughly 50 units on the last remaining parcel of land on Fisher Island, considered one of the most exclusive ZIP Codes in the country and accessible only by ferry or other boats. Related acquired the 6.5-acre property in September for $122.6 million, with its partners Teddy Sagi, BH Group and Wanxiang America RE Group. The developers hope to break ground by the third quarter of 2023.
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