A property auction is coming to America’s wealthiest ZIP code —a first

Sarah Paynter
·Reporter
·4 min read
A Fisher Island condominium is going up for auction later this month. Photos provided by Michael Czerepka (UpSpring PR).
A Fisher Island, Fla. condominium is going up for auction later this month. Photos by Karla Abaunza of Luxury Living Realty.

Fisher Island, America’s wealthiest ZIP code (33109), has a condominium up for auction this month — for the first time ever.

The Floridian paradise’s first auction on July 16 for a property that has been listed for $23.9 million. The massive five-bedroom, five-and-a-half bathroom condominium boasts 8,200-square-feet of living space and a 4,200-square-foot wraparound terrace on the ground floor of the nine-floor Villa Del Mare.

“On Fisher Island, the sales market is generally very efficient, and sellers with loftier listing prices can frankly sit and wait as long as they wish for a buyer. In this case, this seller owns more luxury property than he feels he currently needs or uses, and prefers to move the Fisher Island property expeditiously,” explained Trayor Lesnock, president and founder of Platinum Luxury Auctions, the Miami-based auction company that is hosting the auction next week.

The condo was originally built in 1992. Its current owner bought the property in 2017 for an undisclosed amount.

A Fisher Island condominium is going up for auction later this month. Photos provided by Michael Czerepka (UpSpring PR).
A Fisher Island, Fla. condominium is going up for auction later this month. Photos by Karla Abaunza of Luxury Living Realty.

Lesnock compared Fisher Island to Disney World for its hospitality.

According to the property listing, the island boasts a club so exclusive, it asks a $250,000 entry fee, plus more than $25,000 in annual fees. For the high price of residence and membership, members get access to a private beach — with sand imported from the Bahamas — an aviary with exotic birds, an observatory, a nine-hole golf course (for an extra $4,000 fee), a pool hall, almost 20 tennis courts and two deep-water marinas, according to the property bid brochure.

A Fisher Island, Fla. condominium is going up for sale later this month. Photos provided by Michael Czerepka (UpSpring PR).
A Fisher Island, Fla. condominium is going up for sale later this month. Photos by Karla Abaunza of Luxury Living Realty.

Residents also pay over $28,000 a year in dues to the homeowners association, which goes toward the 24/7 ferry service, private security and upkeep on the seawall that keeps Fisher Island safe from erosion. And utilities cost more than $6,400 per month to cover insurance, maintenance, landscaping, WiFi and cable, according to the property bid brochure.

“Fisher Island offers its residents unparalleled privacy and security while providing all the luxurious amenities you can imagine,” wrote Karla Abaunza, the property’s listing agent.

A Fisher Island condominium is going up for auction later this month. Photos provided by Michael Czerepka (UpSpring PR).
The flat boasts a 1,500-bottle wine cellar. Photos by Karla Abaunza of Luxury Living Realty.

‘Living on the open water’

The property underwent a complete renovation in February 2020. The condo boasts a 1,500-bottle wine cellar, a wine-tasting room, an EcoSmart fireplace, a breakfast nook, a fitness center, an office, five walk-in closets and large french doors that offer endless views of the ocean.

“When you walk in, it’s this big, beautiful, light, airy space. And you can look right through the property to your huge terrace and all of this blue. You get that relaxing feeling of ‘OK, I’m home. I can turn the phone off now and relax.’ That’s a hard thing to accomplish, for a property to create that sense,” said Lesnock.

A Fisher Island condominium is going up for auction later this month. Photos provided by Michael Czerepka (UpSpring PR).
The condo has an EcoSmart fireplace, a breakfast nook, a fitness center, an office, five walk-in closets and large french doors that offer endless views of the ocean. Photos by Karla Abaunza of Luxury Living Realty.

And the wraparound terrace made of sandblasted Spanish Limestone offers 180-degree views of both the wide open ocean, and the Miami skyline on the other side. The tiered outdoor space has an outdoor kitchen, wet bar and access to the building’s pool.

“It has a full, unobstructed view of the ocean. Believe it or not, that is a really difficult thing to find in Miami because there are usually buildings in the way,” said Lesnock. “And living on the open water is terrific, but the ocean goes black at night — so on the other side of the wraparound terrace, you have city light views to balance it out.”

A Fisher Island condominium is going up for auction later this month. Photos provided by Michael Czerepka (UpSpring PR).
A Fisher Island condominium up for auction has a 4,200-square-foot wraparound terrace. Photos by Karla Abaunza of Luxury Living Realty.

Correction and clarification: The property has been listed for $23.9 million. Its current owner bought the property in 2017 for an undisclosed amount. Those facts were misstated in an earlier version of this article. Also, a few quotes from Trayor Lesnock have been updated in this article.

Sarah Paynter is a reporter at Yahoo Finance. Follow her on Twitter @sarahapaynter

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