Millionaires create a school in Fisher Island, Florida – America's wealthiest community
CEOS take note: Fisher Island – which offers splendid isolation for its business and celeb residents – is about to be even more splendid.
The island of millionaires in Florida is shattering its own Venetian glass ceiling with the construction of Palazzo del Mar, a new tower of 34 residences featuring a private concierge who can help you navigate your built-in cappuccino maker.
The 650 families who live on Fisher Island are used to this. The town is the wealthiest community in the U.S. (average net worth of residents: around $10 million). It's accessible only by. ferry – or yacht – and boasts its own private restaurants, beach club, golf course and spa.
"It's really quite beautiful; I guess everybody says that," says resident Sharon King (yes, that's Larry's ex) of Fisher Island. "It's 180 degrees from Manhattan. And Washington. And Los Angeles. It's like a resort, but the best thing about it is that South Beach is just 15 minutes away."
Palazzo del Mar is the most recent addition to a steady stream of new construction on the island, which has been booming ever since Waste Management and Blockbuster entrepreneur John Melk took over as developer in 1998.
"Fisher Island's had another record year," says spokesperson Sissy DeMaria. "There's a lot of fabulous condominiums out there that might be, say, more modern. But what they don't have is a golf course, two marinas, six restaurants, 50 full-time security officers and an aviary.
Those other condos are also infested with drivers. On Fisher Island, chauffeurs are optional; most transportation is by golf cart. Then again, at just 216 acres, residents can just take their Jimmy Choos for a walk.
Vacationers or Potential buyers who want to check out the island can leave their excess money with us, er, pay an average of $850 per night to stay in a hotel room. Some Fisher Island guests have been Julia Roberts, Robert De Niro, Janet Jackson, Bono, Pete Sampras, Andre Agassi, Steffi Graf, and Tim McGraw and Faith Hill.
At the Palazzo del Mar, those types get their seclusion, with private elevators, (with ocean views, of course) whisking them up to their sparkling condos.
Configurations run the gamut from three-bedroom, 3 1/2-bath apartments to five bedroom, 5 1/2-bath palaces, some with a den, library and maid's quarters. Apartments between 3,500 and 7,000 square feet go from $2.2 million to $6.5 million.
That's pricey, but then again, Fisher Island's homes tend to run between $1.5 million to $5.5 million. over the years, condos at the former winter home of William Vanderbilt have attracted such buyers as Oprah Winfrey, Boris Becker and Mel Brooks.
What about kids? it's an ideal place to raise children," says car dealership (and real estate) entrepreneur Robert Potamkin, who lives with his family on Fisher Island nine months of the year. "There's no crime... Fisher Island is the nicest place in the world."
Indeed, a growing number of bald heads on the island are due -to a mini-baby-boom, not an influx of retirees. Over the last five years, the average age on the island has slipped from 58 to 48, and today there are approximately 130 children on the island.
The growing under-16 population has prompted local parents to pool their resources and create their own day school.
"Enrollment is higher than expected," says Potamkin the chairman of the board. There are 42 children slated to start at the school this fall – including his 4-year-old twins. "Even if the building isn't finished, we're already increasing its size."
"The school will be the prettiest school you ever saw," Potamkin adds. "We're hiring the best teachers we can find – and we don't mind overpaying."
Money, it seems, is really no object when you have this kind of cash.
"People are always moving to larger places on the island," King says. "They don't seem to move off the island, just to a larger place to meet their needs."
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And here over in Brooklyn...
It's expensive, private, on the water and hard to reach. No, it's not Fisher Island but it may be New York's best alternative.
Created by Sandy & Babcock International, the design architects for Fisher Island, Brighton Beach's Oceana Condominium and Club is fetching top prices in Brooklyn. Recently, a 2,766-square-foot duplex penthouse sold for $2.5 million, and prices for other units In Oceana's two latest buildings are approaching $900 a square foot.
If the idea of a multimillion-dollar apartment In Brighton Beach has you up in arms about the state of New York City's real estate market; rest assured that Oceana is filled with luxe amenities: balconies, ocean views and a 16,000-square-foot club.
Still, while Fisher Island touts its total privacy and isolation, residents new to Brighton Beach may find themselves overlooking a busy boardwalk and faced with a long commute to Manhattan.
For those willing to make the journey, Oceana will ultimately include 850 apartments in 15 buildings, rising from seven to 12 stories. Prices range from the $500,000s to more than $2.5 million. Residents are expected to move into the newest buildings in the summer of 2005. - LK.
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