The partnership to develop 50 ultra-luxury residences in America’s most exclusive zip code
MIAMI–(BUSINESS WIRE)–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.
For more information, please visit Relatedgroup.com
About Related Group
Established in 1979, Related Group is Florida’s leading developer of sophisticated metropolitan living and one of the country’s largest real estate conglomerates. Since its inception more than 40 years ago, the company has built, rehabilitated, and managed over 100,000 condominium, rental, and commercial units. The firm is one of the largest privately owned businesses in the United States with a development portfolio worth more than $40 billion. Currently, Related Group has 90+ projects in varying phases of development.
The company has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers, and affordable properties – all built with the goal of positively impacting neighborhoods and improving quality of life across all demographics. Related Group has redefined real estate by diversifying both its products and buyers, expanding internationally while also sponsoring public art installations that enhance cities’ global culture and streetscapes. For more information, please visit relatedgroup.com.
About BH Group
BH Group is a Miami-based real estate development firm focused on the ground-up development of luxury projects throughout South Florida. BH has extensive experience in the acquisition, construction, design, capital structuring and asset management of complex developments. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and developments by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. For more information, please visit bhgroup.miami
About Wanxiang America RE Group
Wanxiang America Real Estate Group is a dynamic real estate investment firm specializing in opportunistic and value-add real estate. WAREG’s flat organizational structure, extensive pool of discretionary capital, and core values allow for a remarkably efficient and highly personalized investment experience. Since its 2010 inception, WAREG has invested over $1.0 billion of equity into nearly 100 commercial real estate investments across the US.
Contacts
Media:
Jorge Mendez
Jorge.Mendez@antennagroup.com
