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Love luxury travel? Try Fisher Island

Love luxury travel? Try Fisher Island

Imagine a secluded island facing calm, blue waters, boasting top-notch facilities, opulent architecture, and great recreational activities. This is the promise of Fisher Island, a ritzy enclave that is reported to be the most expensive place to live in, not just in Miami, but in the entire U.S.

Image courtesy of CNBC

Miami certainly has a lot of attractive spots that call to people from all over the world, but Fisher Island is almost like a portal to somewhere else. The average income of its residents is approximately $2.5 million per year, according to a 2015 analysis by the Internal Revenue Service data. This goes to show how much luxury living really costs.

Where did the island come from?

Real estate mogul Carl Fisher gained possession of the island in 1919 after acquiring it from Dana Dorsey. The island was eventually named after him, but he didn’t own it for very long. Only a year later, he sold the island to William K. Vanderbilt II, who turned portions of the island into his private estate. Today, the Vanderbilt Mansion is part of the facilities of Fisher Island Club, the current longstanding operator of the island.

Image courtesy of Business Insider

True to its exclusive nature, you can only reach the private, 216-acre man-made island via boat or ferry. Some even go so far as to bring their private jets and land them at the Vanderbilt Mansion’s landing dock or soccer field, which is affluence at its finest.

Who lives there?

Fisher Island is home to around 700 families. Though it’s certainly a place you would not want to leave, less than 20% of the island’s residents permanently reside there, building its reputation for being a rest house and luxury destination spot.

The demographics of the residents are diverse, with around half from the US and the other half from around 45 other countries. Common occupations of property owners are financiers and CEOs. Oprah Winfrey is one of the most famous celebrities to own a condo on the island, although she sold it in 2008.

How much does it cost to stay there?

When it comes to residential living, Fisher Island’s most common buildings are multi-family apartments. The high-rise buildings are clustered together but only contain a few large apartments each.

Image courtesy of Discover Homes Miami

A property’s value can cost as much as $26 million with the right combination of age, size, and views offered, and it’s expected that these appraisals will continue to appreciate over the years. Real estate trends also reveal that a square foot is priced at $1,000.

In terms of travel, there are only a few hotels that operate on the island. Hefty membership fees are also required before getting to use the island’s amenities, namely an initial contribution of $250,000 and an annual fee of $20,330.

The 500-strong staff maintain the hotel to make sure that every day is a perfect experience for its guests, including managing high-end restaurants, golf courses, tennis courts, and a private beach.

Fisher Island truly caters to the wealthiest, and is the perfect example of luxury living. So the next time you catch sight of zip code 33109, know that it symbolizes a place of wealth and paradise.

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