Aerial view of Fisher Island
Courtesy of Palazzo Del Sol
Bloomberg’s recent rankings of the five richest zip codes according to average annual income put exclusive Fisher Island just 3 miles across Miami’s Biscayne Bay at the top of the list. The island even boasts a fully accredited private school, The Fisher Island Day School serving grades pre-k through sixth. Students include both on and off-island residents.
Fisher Island is a barrier island covering only 0.3 miles square miles. Its monied population according to 2015 census data was only 467. The island’s exclusive pedigree began when the Vanderbilt mansion was built there in 1936. Today the island is only accessible via auto ferry, private boat (most likely a yacht) or helicopter.
California entrepreneur Steele Platt can live anywhere he chooses. As one of four co-founders of Yard House (a sports bar restaurant chain), Platt cashed out in 2012 when it was sold to Darden Restaurants in a deal that left Platt well fixed. Today he owns homes in Newport Beach California, La Quinta, California and on Fisher Island.
An avid boater, Platt grew up in Jacksonville, Florida. After college in Colorado, he headed to Southern California and his success launching the Yard House. “I was always thinking after I sold the Yard House to revisit buying a residence in Florida. “I chose Miami because it had become a very international city and at the time that’s I wanted.” After initially looking in South Beach, Platt saw Fisher Island and Miami lost its glitter. “I didn’t know much about Fisher Island. Once I saw it, I thought it was very cool that you could leave the hustle and bustle of Miami and be a five-minute ferry ride away,” Platt said.
A terrace at Palazzo Del Sol
Courtesy of Palazzo Del Sol
Raising the Fisher Island luxury meter is Palazzo Del Sol, A full-service five-star building which opened in March 2016. With 43 residences and 4 studios, there are only about 6 units left. Prices ranged from $6 million to $35 million. Platt purchased a three-bedroom, three-and-a-half bath condo there listed at $8.55 million two years ago. He also bought a poolside cabana facing the water. Owners enjoy a zero-edge pool and spa with towel service and poolside bar. The luxury continues with the interior amenities including private massage rooms, hair and makeup salon, business center. There is even a children’s playroom.
Palazzo Della Luna, the 10-story “sister” project to Palazzo Del Sol with 46 residence priced from $6.5 million to $40 million is expected to be completed end of summer with sales officially launching then. The amenities there are developed to wow buyers. Think two pools; a “Sunrise” infinity edge pool with underwater banquette seating. Then as the sun dips into the Atlantic residents can enjoy the “Sunset” pool, also with underwater seating and pool bar.
Dora Puig, director of sales & marketing for both Palazzo Del Luna and Palazzo Del Sol knows the Fisher Island real estate market well. “There really had been no new construction on Fisher Island until Palazzo Del Sol for seven or eight years,” Puig recalls. That project elevated pricing about 20% on the island,” she adds.
“The minute you get off the ferry you can see Peacocks and people driving around in their golf carts, which I like. Yet if you want the South Beach experience it’s only a ferry ride which really is, the best of both worlds for me,” a very content Steele Platt confides.