Fisher Island’s Six Fisher Lands $400 Million Construction Loan Ahead Of Groundbreaking

New York’s Madison Realty Capital has provided Related Group with $400 million to construct their new ultra luxury development on Fisher Island, Six Fisher.

Related purchased the site in 2022 for over $100 million and launched sales during Art Basel Miami Beach of that year. They set the new standard as being the first project to require prospective buyers to be invited to even consider a purchase. This set the stage of the new era of exclusivity being currency in the Miami Beach condo market.

Fast forward to today and the project has sold more than $500 million so far, including a combination of two penthouses that famously traded earlier this year for a reported $150 million. While the prices are kept strictly under wraps, we do know that the expectation is more than $4,000 per square foot and the developer has provided an array of finishes, services and amenities that will make this price a worthwhile ask.

Rendering of Six Fisher Island Terrace

“Fisher Island is one of the most exclusive communities in the country creating strong demand for new residences, yet offers limited new development. We are excited to deliver a flexible financing solution for the construction of highly amenitized, modern residences,” Josh Zegen (managing principal and co-founder of Madison Realty Capital) recently told Bloomberg.

When asked about the loan, Nick Perez replied that, “Madison Realty Capital’s loan will allow us to fulfill our vision of further elevating the level of luxury and service of what is already one of the world’s most exclusive communities.”

Nick Perez is the President of Related Group’s condo division and the son of Jorge Perez. Their company has completely redesigned Miami’s skyline. While this is their first project on the famed Fisher Island, they are no stranger to the ultra-luxury market. Their South of Fifth development, Apogee, is one of the most successful developments in the area so far.  After experiencing success with Apogee, they ventured off to transform the entire neighborhood with Marea and others.

Rendering of Six Fisher Island Porte Cochere

We are looking forward to the groundbreaking of Six Fisher this summer, with delivery expected in 2026.

Douglas Elliman is the exclusive broker for Six Fisher. If you are interested in an invitation to consider this project, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at moc.semohyruxulimaim@leahcim. 

Images courtesy of: Six Fisher by The Related Group