Miami’s Fisher Island Ferry Property Selling for $180M
By Julia Echikson January 23, 2025 1:11 pm
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TransMontaigne Partners is selling a potential development site and ferry terminal on Fisher Island, an uber-wealthy enclave off the coast of Miami Beach, for $180 million, the Denver-based company announced.
A deal is expected to close by May 15. TransMontaigne, which will lease and continue to operate the terminal, did not name the buyer. A representative for TransMontaigne did not immediately respond to a request for comment.
In addition to the terminal for the ferry which transports residents from the island to Miami Beach, the 9.6-acre site includes a storage facility that can hold 700,000 barrels of fossil fuel.
Last year, TransMontaigne Partners put the property on the market for $200 million, The Real Deal reported. The offering memorandum disclosed that TransMontaigne may need to operate the fuel depot until 2027.
Fisher Island remains one of the wealthiest ZIP codes in the country, once counting Oprah Winfrey, Canadian billionaire Lawrence Stroll, and tennis champion Caroline Wozniacki among its moneyed residents.
Just east of the fuel storage facility, a partnership led by Jorge Pérez’s Related Group and BH Group are developing a 10-story luxury condo building, after securing a $400 million construction loan in June. The partnership bought the 6.5-acre site for $123 million in 2022.
Julia Echikson can be reached at jechikson@commercialobserver.com.
