What is it Like to Live on Fisher Island? – The Richest and most Exclusive ZIP code in the USA

What is it Like to Live on Fisher Island?

The exclusive Fisher Island in Miami Beach, Florida has been announced to be the country’s wealthiest zip code in 2018 by a Bloomberg analysis. This ultra-luxury island is one of the only few places in the world where one can completely disconnect from the mainland while still being surrounded by high-end amenities and services and while still being close to a vibrant city core. The David Siddons Group will take you on a tour and explain you everything there is to know about this exclusive residential community and what is it like to live on Fisher Island.

How to Get to Fisher Island, Fl?

Fisher Island Miami is an exclusive 216-acre island located minutes off the coast of Miami, and is only accessible by yacht or private ferry. Once you arrive at the ferry terminal you can only access the ferry if you are a resident, a guest of a resident or a guest of the small luxury hotel on the Island.

The ferry leaves every 5 minutes and takes up to 7 and a half minute to reach Fisher Island. Ferries are available all year round and new ferries are expected soon with more capacity to transport residents and their guests. Commercial traffic to and from the island will be separated from residents’ transport.  On the island you will see most transportation is done with golf carts, courtesy to the residents. An off-island parking lot and trolley is provided for employees.

Fisher Island Residents

It is said that around 700 families live on the 216 acre island. That is one family per 13,441 SF, speaking of privacy!!  Although Fisher Island residents mostly use the island as a second, third or even fourth residence, in recent years more and more families have made it their primary residence. Many tax law refugees from states like NY and NJ are now flocking into the island, as well as many wealthy families from South America who value the safety and privacy.

How Self Sufficient is the Island?

When it comes to everyday needs on Fisher Island, one has access to a small bank, a post office, a grocery store, several dining facilities, a fire rescue station and emergency medical services. The island is also home to several playgrounds for kids, marinas and beaches. The island has no pharmacy however and although the supermarket offers a good amount of products, the variety of products is not as wide as on the mainland. The Fisher Island Public Safety Department and The Fisher Island fire station provide services 24 hours a day. There is no recorded/reported crime.

For children, there is a private accredited day school on Fisher Island; Fisher Island Day School is A-Rated and serves grades PK till grade 8. The school has currently over 80 students enrolled.

Real Estate on Fisher Island

Fisher Island real estate is pre-dominantly a condo market. All condo buildings on the island are built in the same style to keep a certain conformity. There are only 8 Fisher Island homes for sale, none of which are located on waterfront lots. Most Fisher Island condos offer large residences with 3,000+ sf and 3+ bedrooms. Many buyers of Fisher Island condos buy here because they feel it is the perfect replacement for a single-family home, but with more security. 

Fisher Island is home to two brand new construction projects: Palazzo del Sol and Palazzo della Luna, both offering the highest standards in finishes, 3+ bedrooms and 3,700 SF or more of interior SF.  These two ultra-luxury condos will be delivered in 2019 and are considered as one of the top Miami condos by the David Siddons Group

Palazzo del Sol

Palazzo della Luna

Membership and Cost of Living

The Equity membership is not mandatory on Fisher Island, however, it gives full accessibility to all the amenities Fisher Island has to offer.  Equity Memberships are available to Fisher Island property owners and a limited number of non-property owners. Each Equity Membership represents an equity ownership interest in the Club. The membership entitles the Member and his/her immediate family (Member’s spouse and their unmarried children under the age of 24) to use the Club facilities and amenities and attend Special Membership Events. This accessibility includes the Beach Club, several fine dining restaurants, the social club, The SPA, 18 of South Florida’s finest tennis courts (red clay, grass, green clay and hard surface), golf course, and the lovely two marinas.

Not having the membership limits the resident to a small portion the island amenities.  If you enjoy the “ club” lifestyle that the island offers, having all these amenities consolidated is a key benefit.

Fisher Island’s HOA fees, including reserves average at $1.15 per SF. Additionally, the FICA fee (Fisher Island Community Association) is a flat $2800 monthly fee, which adds as an additional $0.60 to $0.85 per SF depending on the size of the unit.  The FICA fees are what maintain the beautiful landscaping and road upkeep of the 217 acres of this private island. This includes additionally, the transportation system, on island services such our on island fire department, security, administrative offices, banking services, dry-cleaning and super market and last but not least the private one mile long pristine beach, private health clinic and house of worship.

The HOA and FICA fees total to a maximum of $2.00 per SF. This is a lower fee than those of many Miami Beach luxury condos. (Please call us for more information on HOA price comparisons)