WRE News: 10-Acre Development Site of Fisher Island Hits Market for $200 Million

Miami Beach, FL – May 23, 2024 – A nearly 10-acre fuel depot on Fisher Island is now available for development, with bids starting at $200 million.

TransMontaigne Partners, an energy storage firm, is selling its facility at 1 Fisher Island Drive, presenting a rare opportunity in an area that appeared to have no more development sites left. The property, near the island’s ferry terminal and golf course, is being sold “as is” with potential zoning and environmental challenges, and the buyer must accept ongoing fossil fuel operations until 2027. 

The sale follows the 2022 transaction of Fisher Island’s supposedly last development site, underscoring the island’s high-value real estate market.
If a developer agrees to the terms, they will gain a prime location on Fisher Island, known for its exclusivity and accessibility by ferry, helicopter, or boat.

Fisher Island has attracted luxury residential buyers, and the new owner could join high-profile developers planning upscale projects in the enclave, such as the 50-unit boutique condominium, Six Fisher Island.