Fisher Island Deals

Who would have imagined it?  Fisher Island Luxury Real Estate Deals? Bargains amongst the country’s wealthiest zip code?  The answer shouldn’t surprise you, but even the rich can find themselves in financial binds.  We do monthly market reports for Fisher Island and Miami Beach but threw in a twist this time – taking into consideration the sales in the last 6 months, we are showing you a few residences priced way below the average sold price per square foot.

There have been 18 Fisher Island Sales in the last 6 months (click here to see document ) –

  • The average closed price per unit is $2,712,888.89
  • The average closed price per square foot $813.69

As much as people have the tendency to generalize numbers and pull statistics for large areas (love when I see “Miami-Dade County average sales fall 24%” <—-I’m being sarcastic here), its futile to make broad statements about real estate when it is so local in nature – even in Fisher Island, you cannot do that.  To compare oceanfront units at Oceanside against a Port of Miami View from Bayview would be totally and completely ridiculous.

So here are some deals found by comparing average sold price per square feet for certain complexes within the island.

Oceanside in Fisher Island

Average Price per square foot in Oceanside in the past 6 months is $1,028.95

This is by far the best deal at Oceanside:  7761 Fisher Island Drive (priced at $621.02 per square foot)

  • Short sale
  • Listed for $1,950,000
  • This residence is 3140 sq ft and has 3 bedrooms, 3 bathrooms and 1 half-bath
  • MLS description reads as follows:

Beautiful corner unit, completely refurbished. Features a spacious living/dining area with loads of natural light, extra storage space, master suite with large closets and private balcony, and much much more in this bright and sunny unit!

Bayview at Fisher Island

Average Price per square foot at Bayview in the past 6 months is $801.68

The Best and only deal under the average at Bayview:   5123 Fisher Island Drive (priced at $642.46 per square foot)

  • Short sale
  • Listed for $2.3 million
  • 3580 sq ft residence with 3 bedrooms and 3 bathrooms
  • MLS description:

Enjoy the breathtaking views from the spacious 566 square foot terrace.  Interior designer decorated.  Sold with all furniture at no extra cost.  All offers must be approved by 3rd party.  Short sale with a very aggressive lender looking for all offers!

Seaside Villas at Fisher Island

Average Price per square foot at Seaside Villas in the past 6 months is $1966.77

The best deal at Seaside Villas is 15513 Fisher Island Drive (priced at $971.83 per square foot)

  • Not a short sale nor REO
  • Listed for $690k
  • 710 square foot 1 bedroom / 1 bath ground floor residence
  • MLS description:

Spectacular ground floor seaside villa, 1 bed, 1 bath, marble floors throughout, lovely terrace, views of tropical gardens and ocean.  Pool and beach located steps away, tastefully decorated and fully furnished (turnkey).  This desirable unit may be placed in the Fisher Island Hotel Program to generate income.  Price reduced!  Easy to show.  Buyer’s must purchase seller’s equity membership.

Villa del Mare at Fisher Island

Average price per square foot at Villa del Mare in the past 6 months is $1412.86

The best deal at Villa del Mare is 7222 Fisher Island Drive (priced at $865.98 per square foot)

  • not a short sale or foreclosure
  • listed at $4,200,000
  • this residence has  4,850 square feet of living space with 3 bedrooms / 3 bathrooms / 1 bathroom
  • MLS description:

The Ultimate Island Address, Villa Del Mar on Fisher Island. Located at the very tip of Fisher Island joining Government Cut and The Ocean.  Huge ocean front terraces wrap around your living space. The living room has 8 panes of glass that open into just two giving you amazing open space. Oversized master suite, two additional guest rooms an office off your family room. So much space with so many options. Ready for immediate occupancy, owner may lease or lease purchase. Owner may hold financing or trade.

4 thoughts on “Fisher Island Deals

  1. Ines,

    I like the post! Good information and I appreciate your comments on the hyper-local nature of real estate markets.

    I’ve been using miamism.com as an example of an exemplary community facing real estate website/blogsite while doing some training the past few days. Keep up the good work!


  2. Hey Matt!
    Thank you, I appreciate the compliment. I always try to include my opinion and my flavor into market reports that could tend to be very boring – these are usually the posts that get the most traction and our readers find most useful.

  3. Ines,

    Its also important to emphasize that Fisher Island real estate is hampered by recent decisions regarding their Country Club. In 2006, residents voted to purchase the Club from the previous owner, who was subsidizing annual dues. Over the next few years, dues went from $8,000 to $20,000 in addition to a $250,000 initiation fee. When you add in the recent, and in my opinion shortsighted, decision of their Country Club Board to spend $60M on upgrades, it all makes for a pretty hairy situation.

    Its important to point these things out when discussing Fisher Island real estate because they are truly unique (island, country club, waterfront, etc.). I can think of only one other similar community and that is Deering Bay in southeastern Coral Gables. However, Deering Bay is in a much better position due to their efficiently run, luxurious Country Club. Check ’em out…

    Great piece…

    DJ Frustration

  4. DJ Frustration,
    Thank you so much for the feedback on Fisher Island. Anytime we have an inquiry about the island, we make sure to explain all the additional fees associated with the island – not only the $250,000 equity membership, the quarterly island maintenance fee as well as each condo maintenance fee.

    I have to confess that no one has ever had a problem with any of it – most people interested in Fisher Island consider those incidentals.

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