Fisher Island Shocker: Prime Development Site Hits Market for $200 MILLION!
Luxury Real Estate News
Calling all high-net-worth developers! Fisher Island, the ultra-exclusive enclave off the coast of Miami Beach, has a surprise offering: a nearly 10-acre development site previously occupied by a fuel depot. This is a **rare opportunity** to own a piece of paradise and potentially redefine the Fisher Island skyline.
Prime Location, Unique Challenges
The property, located at 1 Fisher Island Drive, boasts a coveted location near the island's ferry terminal and golf course. However, there are some key details to consider. The site is being sold "as-is" with all existing limitations. Bidders will need to navigate zoning, environmental, and regulatory hurdles to achieve their development goals. Additionally, TransMontaigne, the current owner, cannot fully cease fuel operations until 2027.
A Developer's Dream, Despite Challenges
Despite these challenges, the potential rewards are immense. This is a **once-in-a-lifetime opportunity** to develop on Fisher Island, which was previously thought to be out of developable land. The last remaining development site sold in 2022 for a staggering $122.6 million. The winning bidder for this property could potentially create a project that rivals the upcoming Six Fisher Island – a 50-unit boutique condominium where units start at $30 million!
Is This the Final Chapter for Fisher Island Development?
With this latest offering, the future of Fisher Island development is up for grabs. Will a visionary developer take on the challenge and create a landmark project? Only time will tell, but one thing is certain: This is a story that will be closely watched by those in the luxury real estate market.
Looking to Invest in Miami Real Estate?
Whether you're a seasoned developer or just curious about the hottest properties in South Florida, stay tuned for further updates on this exciting Fisher Island development opportunity. And if you're interested in exploring other Miami real estate options, click here.
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