The Madar Group USA has lined up buyers for three of its headline‑grabbing "Mansions on Fisher Island," putting the spec homes under contract with a combined asking price of $105.5 million. The deals chip away at the already razor‑thin supply of single‑family houses on the private island off Miami Beach. Builders say the properties, which remain under construction, are slated for completion sometime between late 2026 and the second quarter of 2027.
Deal Details And Price Tags
According to The Real Deal, Madar's U.S. arm has two of the homes priced at $36.5 million each and a third at $36 million. That leaves three more residences still on the market inside the roughly two‑and‑a‑half‑acre enclave. One of the remaining properties is being promoted as Fisher Island's largest single‑family home, weighing in at about 18,000 square feet with a $57 million asking price.
One Contract Out In The Open
Deal database Traded shows that 1005 Fisher Island Drive is under contract for $36.5 million. The 10,977‑square‑foot home is part of Madar's six‑house collection, with top broker Dora Puig listed as the seller's representative. Traded labels the transaction as pending and names ASR Construction as the builder on the project.
Who Is Behind The Project
The Madar family, whose wealth traces back to perfume maker Interparfums, picked up the Links Estates land from developer Heinrich von Hanau for roughly $40 million in 2024, according to Bloomberg. Brokerage giant Douglas Elliman helped launch sales, with agents Fredrik Eklund and Dina Goldentayer on the front line. Dora Puig of Luxe Living Realty now leads the listings. The homes were designed by Portuondo Perotti Architects and ASR Construction is serving as general contractor, per Mansions on Fisher Island.
How It Fits Into Fisher Island's Frenzy
With developable land for new single‑family homes on Fisher Island essentially tapped out, every contract tends to turn heads among wealthy buyers and local officials alike. The Residences at Six Fisher Island, a separate luxury project being developed by The Related Group and its partners, locked in a $400 million construction loan, according to Berkadia. Nearby, HRP Group's purchase of a fuel‑depot parcel for about $180 million has stirred debate over PortMiami access and potential redevelopment, prompting scrutiny from county officials and a wave of public comment.
Market Take
Madar says buyers for the mansions are a mix of domestic and international clients and skew younger than the developer initially expected, The Real Deal reports. The pitch centers on high‑end comforts, including custom kitchens, private elevators and four‑car garages, all wrapped in the ultra‑exclusive Fisher Island lifestyle. In a market where new single‑family parcels have basically disappeared, the latest contracts underscore that demand for rare, waterfront trophy properties is still running hot.
