A Sale of a Penthouse on Fisher Island, Closings at $8.8M ($1,803.27 Sq ft)
Seller: Renowned businesswoman from Brazil, Cristiana Arcangeli, business entrepreneur Shark Tank Brazil
Buyer: Luis Garcia, concrete mogul from Adonel Concrete
Luis Garcia, the “mogul of concrete,” and his Real Estate advisor Ana Teresa Rodriguez, the visionary realtor and developer, purchased a lower penthouse in the 52 building, a unit with over 5,000 sq ft and breathtaking city views.
The seller is successful Cristiana Arcangeli, the businesswoman entrepreneur from Shark Tank Brazil.
Closings at $8.8M ($1,803.27 Sq ft)
Rodriguez plans to demolish the unit and create a new, high-end residence that will satisfy the demands of affluent buyers, many of whom are from New York and California and seeking to live in Fisher Island.
According to Ana Teresa
“The island’s Piazza del Sol and Palazzo Della Luna units are being sold in the $25M’s and $40 – 50 M’s. Anything below $25M with over 6,000 sq ft is considered a great deal,” says Ana Teresa Rodriguez.
Interestingly, high-profile residents of Fisher Island are now buying two to three units: one for themselves to live in and one or two additional units for staff, guests, or relatives, given the limited space and high demand. Prices on the island start at $2.6M for smaller, non-renovated units, but for $20M to 25 M, buyers can create “their compound” consisting of two or three assembled units.
For example, the 5275 Fisher Island Dr. property recently sold at a reduced price than the current market at Fisher Island but on the other hand, the seller could double her initial investment. According to Ana Teresa, the value of the properties on Fisher Island continue to rise.
For this deal, ATRLH (ATR Luxury Homes) represents the buyer, and ATR Concepts (the remodeling arm) plans to renovate and elevate the unit for a potential resale value of around $15M. Ana Teresa Rodriguez is confident that the unit will be “perfect, elegant, luxurious, but at the same time practical, homie and inviting” and expects to sell it for around $15M.
This purchase and resale project on Fisher Island is a perfect example of Miami’s market trends.
The potential of a one-year project with $1.5M renovations and the potential of $5M net profits is an excellent opportunity for intelligent investors, says Real Estate advisor Ana Teresa Rodriguez…
Today’s buyers seek the ideal home that saves them time and money. They understand the value of the time and money invested in making the property the perfect home. Buyers will pay more for quality finishes, lifestyle costs, and upgrades.
This is a great business opportunity for developers and sellers looking to sell their homes for the highest value. They can elevate their home to this “concept,” make extra money with the sale, and become their “own” real estate investor.
Of course, there’s always a risk in any business venture. But in this case, the risk is worth the potential reward: a one-year project with $1.5M renovations and potential of $5M net profits.
The beauty of real estate is that it’s tangible – you can see it, touch it, and it will always be there. It’s a much more stable investment than the volatile stock market.
According to Ana Teresa, Luxury real estate investment requires a strategic approach. Investing in the right location and elevating the property to match current market trends can result in profitable returns…
For some homeowners, this could be the opportunity of their lifetime to make real money in their own homes.
And it is happening in Fisher Island, the most expensive zip code;
Meanwhile, Bay Point, these ana Teresa’s investor, Luis Garcia, has had record-breaking sales recently in March, including the sale of 4505 Sabal Palm for a whopping $38,500,000. Represented by the talented Ana Teresa Rodriguez, CEO and founder of ATR Luxury Homes, the sale set a record for the swanky community at $4,691 per sq ft, making it the second-highest sale per sq ft in Miami after Adrianne Arsht at 5,365 sq ft.
According to Ana Teresa Rodriguez.. Bay Point and Fisher Island are both highly exclusive communities that offer privacy, stunning views, and strategic locations for luxury real estate investment.
Savvy investors like Luis Garcia, trusting the vision of Ana Teresa Rodriguez, have seen the potential and made it happen.
Visit atrluxuryhomes.com for more!