The story behind Fisher Island, the island of millionaires in Miami

The exclusive paradise of Fisher Island, where luxury and distinction are found in every corner. (Photo Opy Morales)

In the middle of the crystal clear waters of Miami is Fisher Island, a paradise corner that embodies luxury and exclusivity at its best. This small island, ranked among the most expensive neighborhoods in the United States, has captivated the attention of many for its aura of exclusivity and dazzling opulence. With access restricted only by ferry or helicopter, Fisher Island has become a private haven for the privileged seeking a lifestyle like no other.

Within the confines of this enigmatic island, residents delight in a wide range of services and amenities designed to satisfy the most demanding tastes. From upscale supermarkets to prestigious schools through grade 8, every detail has been carefully planned to provide an extraordinary living experience. In addition, the lucky inhabitants of Fisher Island have access to a nine-hole golf course, majestic swimming pools and everything necessary to enjoy an enviable lifestyle.

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Fisher Island: A prestigious residential enclave with its own supermarket, school, beach and golf course

Fisher Island is much more than a place to live, it is a symbol of status and prestige. Its privileged residents enjoy unparalleled privacy and the peace of mind that comes from knowing that they are surrounded by natural beauty and luxurious surroundings. This little gem in the heart of Miami is a testament to the success and ambition of those who call it home. On the island, opulence meets serenity, creating an exclusive oasis that delights the senses and redefines standards of luxury.

Carl Fisher: The visionary behind the transformation of Fisher Island into a paradise of luxury and exclusivity (miami-history.com)

Fisher Island’s history is closely tied to the vision and influence of one man: Carl Fisher. Born on January 12, 1874, in Greensburg, Indiana, Fisher had a modest childhood and worked in various occupations, including a newspaper delivery boy and a carriage driver. However, his entrepreneurial spirit and his vision led him to become one of the most prominent businessmen of his time.

Fisher moved to Miami in the early 20th century and quickly realized the area’s potential to become a renowned tourist destination. He founded the city of Miami Beach and played a key role in its development, building hotels, promoting tourism and attracting investors. His vision of turning Miami Beach into a place of luxury and recreation was a resounding success, and Fisher became an icon of the tourism industry.

In his quest to create a unique enclave in the region, Fisher acquired Fisher Island in 1919. At the time, the island was known as “Little Golden Gate” due to its bridge connection to the Miami coast. However, Fisher transformed the island into a luxury destination by building high-end homes, luscious gardens, and a wide range of facilities and services for residents.

Unfortunately, Fisher’s plans to develop the island did not materialize due to financial difficulties. In 1925, the island was sold to William Vanderbilt II and later passed into the hands of Dana Dorsey, a prominent African-American businessman. Dorsey acquired Fisher Island with a vision of creating an exclusive community for the African-American community, but his plans too were cut short by the Great Depression and lack of investment.

Finally, in the 1980s, Fisher Island was acquired by a group of investors led by businessman Melvin Simon. Under his direction, the island was transformed into the luxurious and exclusive haven we know today, appealing to those seeking privacy, security, and an unparalleled living experience.

Fisher Island, the hidden treasure of Miami that has seduced lovers of luxury and exclusivity (Getty)

In the 1980s, Miami experienced an exciting real estate boom that radically transformed the urban landscape and cemented its status as one of the most sought-after destinations in the world. Driven by economic euphoria and the attraction of investors, the city became a hotbed of construction and development projects.

Amid this frenzy of growth, Fisher Island emerged as an icon of exclusivity and sophistication. At that moment, real estate mogul Melvin Simon glimpsed the untapped potential of this tiny island and set out to turn it into a haven of unrivaled luxury. With a bold vision and unwavering commitment, Simon led the development of Fisher Island, leaving an indelible mark on his story.

Under the direction of Melvin Simon, Fisher Island became an architectural masterpiece and a privileged enclave. Meticulous design plans were carried out and luxurious residential complexes were built, attracting some of the most prominent names in the wealthy elite. The exclusive lifestyle that the island offered became a refuge for celebrities, businessmen and international magnates.

The Miami real estate boom of the 1980s not only fueled the growth of Fisher Island, but also redefined the image of the city. Skyscrapers rose on the horizon, beaches filled with luxury resorts, and glamor and opulence became ubiquitous. Miami became a magnet for those seeking a life of luxury and sophistication, and Fisher Island became the epicenter of this transformation.

Fisher Island: The exclusive island of Miami that captivates with its limited access and its variety of world-class amenities (Photo: fisherislandclub)

Simon’s legacy in developing Fisher Island lives on to this day. His vision and his dedication to excellence laid the foundation for making this small island a symbol of status and exclusivity. His commitment to quality and luxury has left an indelible mark on Miami history and has ensured that Fisher Island remains a coveted destination for those seeking the best of the best.

Property prices on Fisher Island vary considerably depending on factors such as the size, location, and state of renovation of the unit. As of April 2023, the median home price for sale on Fisher Island was $4.9 million, representing a 20% downward trend from the prior year. However, in February of the same year, the median price of homes for sale was USD 6.1 million.

Looking at recent sales, the average transaction is reported to have been USD 4.25 million. Prices for the smallest, unrenovated units on the island start at $2.6 million, but for buyers willing to spend $20-25 million, there are opportunities to create custom properties based on your preferences.

On the other hand, Analia Musoni, who knows the real estate market in Miami, points out: “The prices of the properties in Fisher Island reflect its status as one of the most coveted places in Miami. Although they have experienced some fluctuations, demand remains high, especially among those seeking unparalleled luxury living.”

Living on Fisher Island, Florida can be quite expensive.

–Housing: The median listing price of homes on Fisher Island was $4.9 million in April 2023, though it was down 20% from the previous year. In February 2023, the median list price was $6.1 million. Home prices start at $2.6 million for smaller, non-renovated units, but can go as high as $20-25 million.

–Costs of daily living: The prices of goods and services on Fisher Island also tend to be high. For example, the average price of a meal at a fancy restaurant on the island is around $35.

–Monthly living costs: Once you have paid all the costs associated with buying a home on the island, the cost of living on the island per month is around USD 10,000. This includes essential expenses like rent, food, transportation, etc. However, this cost may be lower than the cost of living elsewhere in Florida due to lower rental prices and the abundance of affordable restaurants and shops on the island.

It is important to note that these are average costs and can vary depending on factors such as personal lifestyle, specific needs, and exact location within Fisher Island.

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