The partnership to develop 50 ultra-luxury residences in America’s most exclusive zip code

MIAMI, September 15, 2022--(BUSINESS WIRE)--Development leader Related Group - along with partners Teddy Sagi, BH Group and Wanxiang America RE Group - today closed on the purchase of Six Fisher Island Drive, the last available development site on Miami Beach’s historic Fisher Island. The deal paves the way for the development of the island’s most exclusive property to date, consisting of only 50 condominium homes and boasting designs from Tara Bernerd and Partners and Kobi Karp Architects.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220915005329/en/

Artist’s rendering of new condominium development on Miami’s Fisher Island. (Photo: Business Wire)

"This is a project more than 40 years in the making," said Jon Paul Pérez, Related President. "It is a privilege to work in a community with as much history and tradition as Fisher Island - it’s the type of opportunity our team dreams of. We look forward to delivering a truly special project that raises the island’s pedigree even higher."

While this soon-to-be-revealed condominium is set to offer the same world-class approach to design, architecture and amenities that define Related’s countless developments, the project will also feature a heavy emphasis on community. As such, the property’s sales - expected to begin by end of year - will be invite-only.

"We are not content with simply building a beautiful tower. We want to build a sense of belonging," said Isaac Toledano of BH Group. "Fisher has long been known for its village-like atmosphere and we’re confident our curated sales approach will help further that experience."

The 216-acre fisher island is located directly off the coast of Miami Beach and is only accessible via ferry or watercraft. It has long been known as one of the country’s most exclusive communities, featuring a private golf course and beach, as well as a variety of lavish amenities, from butler service to a member-only restaurant. The man-made island has been home to many of Miami’s most notable figures, including the heir to railroad fortune William K. Vanderbilt. It has also been the backdrop to some of the region’s most high-profile real estate listings.

"Fisher Island is iconic not only in South Florida, but the world at large. To be developing on the island at such an important time in Miami’s growth is a responsibility we do not take lightly," said Larry Krueger, Managing Director for Chicago-based Wanxiang America RE Group. "This is a property that will define Fisher Island’s story for generations to come."

This is the latest acquisition for the Related, Teddy Sagi and BH joint venture, closely following high-profile purchases in West Palm and the City of North Miami. The powerhouse firms continue to aggressively pursue additional joint opportunities throughout South Florida.

For more information, please visit Relatedgroup.com

Established in 1979, Related Group is Florida's leading developer of sophisticated metropolitan living and one of the country's largest real estate conglomerates. Since its inception more than 40 years ago, the company has built, rehabilitated, and managed over 100,000 condominium, rental, and commercial units. The firm is one of the largest privately owned businesses in the United States with a development portfolio worth more than $40 billion. Currently, Related Group has 90+ projects in varying phases of development.

The company has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers, and affordable properties – all built with the goal of positively impacting neighborhoods and improving quality of life across all demographics. Related Group has redefined real estate by diversifying both its products and buyers, expanding internationally while also sponsoring public art installations that enhance cities' global culture and streetscapes. For more information, please visit relatedgroup.com.

BH Group is a Miami-based real estate development firm focused on the ground-up development of luxury projects throughout South Florida. BH has extensive experience in the acquisition, construction, design, capital structuring and asset management of complex developments. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and developments by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. For more information, please visit bhgroup.miami

About Wanxiang America RE Group

Wanxiang America Real Estate Group is a dynamic real estate investment firm specializing in opportunistic and value-add real estate. WAREG’s flat organizational structure, extensive pool of discretionary capital, and core values allow for a remarkably efficient and highly personalized investment experience. Since its 2010 inception, WAREG has invested over $1.0 billion of equity into nearly 100 commercial real estate investments across the US.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220915005329/en/

Media: Jorge Mendez Jorge.Mendez@antennagroup.com

Word spread quickly yesterday that almost 1.1 million Tesla (NASDAQ: TSLA) vehicles were being recalled. At the morning's lows, Tesla shares were down just shy of 5%. The stock market isn't always efficient, but simple math indicates that the recall isn't the reason Tesla shares have dropped for a second straight day.

On Wednesday, the Fed bumped up interest rates again, its third 75-basis point hike since June, and signaled that there could be two more such hikes by the end of this year. The conventional wisdom has the Fed acting properly, and aggressively, in an attempt to counter inflation raging at 40-year high levels. But conventional wisdom isn’t always right – and we can learn a lot by consulting the contrarians. Few top investors are more contrarian than Cathie Wood. The founder and manager of ARK Inv

The shipping company has developed a reputation as one of the best dividend stocks around

In this article, we discuss 10 best stocks to buy before recession begins. If you want to see more stocks in this selection, click 5 Best Stocks to Buy Before Recession Begins. Between 1929 and 1939, the period famously dubbed the Great Depression, global economies suffered from stock market crashes, sharp declines in output, high […]

Evercore ISI Senior Managing Director Julian Emanuel joins Yahoo Finance Live to discuss the bond market and why investors should turn their attention there if they're turned off by market volatility.

It's Friday morning -- two days after the Federal Reserve raised interest rates 0.75%, and one day after seemingly every other central bank in the world followed suit, according to The Wall Street Journal -- and oil stocks are tanking. As of 9:50 a.m. ET, shares of oil company Occidental Petroleum (NYSE: OXY) are down 5.6%, while industry bellwether ExxonMobil (NYSE: XOM) is down a solid 6%, and refiner Phillips 66 (NYSE: PSX) is leading the pack lower with a 6.7% loss.

In a year when all three of the major stock indexes in the United States have declined by 15% or more, there are plenty of dividend stocks out there with high dividend yields. What if I told you that there is a Dow Jones Industrial Average stock with a yield north of 6%? Dow Inc. (NYSE: DOW), a maker of various chemical products and one of the Dow Jones Industrial Average's 30 components, fits this description.

Boeing (NYSE: BA) made a big move to put part of its troubled past behind it, but the aerospace manufacturer also apparently has fallen out of favor with what had been a key customer in China. Boeing has taken its investors on a turbulent ride over the past few years. The company's 737 MAX, which was once billed as having the potential to be the top-selling aircraft of all time, was involved in fatal crashes in 2018 and 2019 that led to the plane being grounded for 18 months and prompted a comprehensive review of Boeing's engineering and safety practices.

In this article, we discuss the 11 best commodity stocks to invest in. If you want to read about some more commodity stocks, go directly to 5 Best Commodity Stocks To Invest In. Macroeconomic concerns have been clouding the commodities market in the past few days after the Federal Reserve in the United States hiked […]

Verizon (VZ) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Shares of recreational vehicle (RV) company Camping World Holdings (NYSE: CWH) crashed on Friday, after an analyst lowered their price target in a research note. As of 1:10 p.m. ET, Camping World stock was down 10%. Truist analyst Michael Swartz has been busily researching the state of the RV market, which led him to lower his target price for Camping World stock.

Shares of the Chinese electric vehicle (EV) maker Nio (NYSE: NIO) were falling this morning on seemingly no company-specific news. Instead, the EV stock is likely falling as the broader market responds to soaring inflation and the Federal Reserve's aggressive interest rate hikes. Investors are getting increasingly concerned about the potential for a global recession, and that sentiment is likely contributing to Nio's share price decline today.​​ The stock fell by as much as 4.9% today and was down by 2.5% as of 11:09 a.m. ET.

The hedge fund legend has spoken. Pay attention.

In this article, we discuss 10 dividend stocks that raised their dividends in 2022. You can skip our detailed discussion on dividend stocks and their returns, and go directly to read 5 Dividend Stocks That Raised Their Dividends in 2022. Given growing earnings, some companies are raising their payouts this year. According to the Janus […]

A look at the shareholders of Golden Sun Education Group Limited ( NASDAQ:GSUN ) can tell us which group is most...

With the Fed making its third 75-basis-point hike this year, Dalio says greater economic contraction is on the horizon.

The market sell-off in 2022 has been brutal, but the longer you invest, the more you recognize that market corrections are opportunities. If you have more than 10 years until retirement, buying shares of strong companies while their stock prices are down has historically been a smart way to build wealth. If you invest just $500 a month at the historical average annual return of the stock market of 10%, you would have $1.1 million after 30 years.

Instead of heading for the sideline, Form 13F filings with the Securities and Exchange Commission (SEC) show that most billionaire money managers were active buyers during the first half of the year. What's particularly interesting is that select billionaires have been piling into some of Wall Street's most beaten-down growth stocks. The following three supercharged growth stocks are down as much as 94%, yet billionaires can't stop buying shares of them.

“We printed up too much money, and just thought the party would never end,” Icahn said, adding that with the Fed raising rates to fight inflation, "the party's over."

Yahoo Finance’s Daniel Howley joins the Live show to discuss the chip sector, the impact of a macroeconomic slowdown, and Morgan Stanley lowering its price target on AMD to $95 from $102.