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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlorida real estate still seeing healthy demand after Hurricane Milton: BH Group's Isaac ToledanoIsaac Toledano, BH Group founder and CEO, joins 'The Exchange' to discuss Hurricane Milton's effect on the Florida real estate market, how the storm could impact insurance prices in the state, and more.
Persons: BH, Isaac Toledano Isaac Toledano Organizations: Hurricane Milton, BH Group Locations: Florida
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.
Related Group and its partners have closed on the last developable parcel of land on Fisher Island. Fisher Island, a seven-minute ferry ride south of Miami Beach that sits at the intersection of Biscayne Bay and the Atlantic Ocean, has long been the stomping ground of the elite. Wealthy people can be discreet about their mansions, but we know that Oprah, Julia Roberts, and Mel Brooks are former Fisher Island residents. The enclave has also won some superlatives: Bloomberg determined Fisher Island was America's wealthiest ZIP code in April 2018, with an average income of $2.5 million in 2015. Fisher Island made headlines in 2020 for nabbing COVID-19 antibody tests for all the residents of its about 800 homes in the early days of the pandemic.
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