I toured a $16 million condo in the country's richest ZIP code, a private island off the coast of Miami. Take a look inside the luxury residence, which is only accessible by boat.
The buyer of the 5,000-square-foot residence will have access to the building's amenities such as a butler-staffed aperitivo bar and waterfront lounge, a private movie theater, massage rooms, hair and makeup salon, and a pool terrace with towel and refreshment service.
But the main draw of the home seems to be the prestige and privacy of living on a members-only island for millionaires.
To become a member of the elite Fisher Island Club, you must pay a one-time $250,000 equity contribution and $22,256 in annual dues. And that's after residents have bought one of the condos on the island, which costan average of $3.2 million.About 700 families live on Fisher Island in almost 30 luxury condominium buildings.
Members of the Fisher Island Club get access to private beaches with sand imported from the Bahamas, a beach club, eight restaurants, a golf course, two deep-water marinas, a spa, 18 tennis courts, and more.
I got a tour of a $15.9 million condo designed by Bottega Veneta on the island that comes with a 900-square-foot terrace with Miami skyline views. Dora Puig, the top-ranked real estate broker in Miami-Dade Countyby sales volume, has the listing.
Here's what it looks like inside a luxury condo in the richest ZIP code in America.
Fisher Island, a 216-acre private island off the coast of Miami, is the richest ZIP code in the US. The average income of residents is $2.2 million.
I spent an afternoon getting a tour of Fisher Island, which included getting into Palazzo Del Sol, one of the island's most luxurious condominium buildings.
Palazzo Del Sol on Fisher Island
Courtesy of Palazzo Del Sol
After my tour of the condo and Fisher Island in general, my impression was that the main selling point of the residence is its exclusive location on a members-only island for millionaires.
While the apartment is beautifully designed and furnished, a lot of its value seems to come from the prestige and privacy of living on a members-only island that's only accessible by boat.
Fisher Island maintains its exclusivity by requiring a $250,000 initial fee and $22,256 in annual dues — on top of purchasing a multimillion-dollar condo.
