Fisher Island Penthouse Sells After $12.2 Million Price Cut—Becoming the Private Island’s Second-Priciest Sale Ever

A stunning seven-bedroom penthouse at Palazzo Della Luna on Fisher Island, which originally hit the market in Miami Beach for $50 million in June 2025, sold on Oct. 28, 2026, for $37.8 million.

Even with a discount of $12.2 million, or about 24%, off its original asking price, the sale is the ultra-exclusive island’s second-highest residential sale ever. The island's top record-breaking sale was a five-bedroom condo that sold for $40 million in 2021.

The seller was represented by Sam Gaita of The Corcoran Group, and the buyer was represented by Andrew Holtz of Compass.

Built in 2019, the sophisticated 9,852-square-foot home has luxurious finishes, including gallery-style walls, wide-oak flooring. (1 Oak Studios)

The Boffi kitchen features double Miele and Sub-Zero appliances. (1 Oak Studios)

An aquarium in the living area of Palazzo Della Luna. (1 Oak Studios)

According to The South Florida Business Journal, the seller was “ALJ Properties USA LLC, managed by Alicia L. Jarrett and Camilo Miguel Jr. with the same address in Miami as Mast Capital, where Miguel is founder and CEO.” The penthouse last changed hands for $23.75 million in 2021.

Built in 2019, the sophisticated 9,852-square-foot home has luxurious finishes, including gallery-style walls, wide-oak flooring, and a Boffi kitchen with double Miele and Sub-Zero appliances. The sale works out to $3,837 per square foot.

Floor-to-ceiling windows surround the unit, and retractable glass walls open to 4,500 square feet of outdoor terraces with panoramic views of the Atlantic Ocean, Biscayne Bay, and the Miami skyline.

Floor-to-ceiling windows surround the unit, and retractable glass walls open to 4,500 square feet of outdoor terraces. (1 Oak Studios)

The outdoor terraces feature panoramic ocean views. (1 Oak Studios)

There is also a lavish rooftop terrace, with an outdoor kitchen and private pool. (1 Oak Studios)

The lavish primary suite has a fireplace, lounge area, dual walk-in closets, and a fluted marble bath with sweeping 180-degree views.

The condo also has a 2,500-square-foot rooftop terrace for entertaining, with an outdoor kitchen and its own private pool.

“Without question, the private rooftop terrace with a swimming pool is the most impressive feature,” Gaita said. “This is the only ‘lower’ penthouse on Fisher Island offering a private rooftop with a pool, which is an extremely rare feature throughout all of Miami.”

There are also separate staff quarters and garage parking for two cars.

“Fisher Island is an ultra-exclusive, private country club island accessible only by boat or helicopter,” he noted. “This 216-acre private island offers a private beach club, yacht club, multiple dining venues, tennis, pickleball, padel, spa and more, reserved for members and their guests only.”

Gaita said what ultimately drove the record sale was “attracting the buyer who best aligned with and appreciated the one-of-a-kind features the property has to offer.”

He also noted that its exclusive location “on a private island comparable to a country club, isn’t something that can be easily replicated and serious buyers understand that value."

"Fisher Island has always attracted buyers who value privacy above everything else. Sales such as this put the island in the same conversation as Indian Creek Island and Star Island for exclusivity," Gaita added.