Tour a little-known island off the coast of Miami that once belonged to the Vanderbilts and is now the most millionaire-dense ZIP code in America
In 1906, the Florida government created the small island off the southern coast of Miami Beach near Biscayne Bay. The island was briefly owned by Dana Dorsey, one of Florida's first black billionaires, but he sold the land to Carl Fisher, an auto entrepreneur and real estate developer, in 1919.
The island took on Fisher's namesake, but he didn't hold on to it for long. In the mid-1920s, Fisher met William K. Vanderbilt II, one of America's wealthiest residents, and proposed a trade: seven acres of Fisher Island for Vanderbilt's 250-foot yacht.
Source: Fisher Island Club
The railroad baron obliged and drew up plans for Fisher Island's first residence, "Alva Base," a Mediterranean-style compound with guest houses, tennis courts, and pools.
Source: Fisher Island Club
Vanderbilt completed construction on his winter retreat in 1941 and spent a few years entertaining and hosting wealthy friends until his death in 1944. The property was sold and resold over the next few years.
Source: Fisher Island Club
By the mid-1970s, total ownership of Fisher Island belonged to an investment group helmed by Charles Rebozo, a Florida banker and businessman who rose to prominence as the close friend and confidant of former US President Richard Nixon.
Source: Fisher Island Club
Rebozo wanted the island filled with luxury real estate and began selling off plots of land to investors and developers. In 1987, Fisher Island Club seized ownership and slowly turned it into the exclusive retreat it's recognized as today.
Source: Fisher Island Club
In 2014, Fisher Island Club completed a $60 million revitalization project that included the addition of a new golf course, tennis courts, a spa and salon, restaurants, a beach club and marina, and a hotel.
Source: Fisher Island Club
The Vanderbilt mansion and cottages remain the centerpiece of the island and are available for booking. The nightly rate for a guest cottage starts at $1,375.
"Rosemary's Cottage" was originally built as an art studio for Vanderbilt's stepdaughter. Now part of the island's hotel, it rents for $4,000 a night.
Source: Fisher Island Club
Though Fisher Island is billed as a world-class travel destination, about 650 families live in private residences on the island. More than 80% of them are seasonal residents. The current median listing price of homes for sale is $3.2 million, according to Zillow.
Source: Zillow, Fisher Island Club
To use the island's resort-style amenities, residents must pay membership dues, which includes an initial contribution of $250,000 and an annual fee of $20,330. Frequent visitors can become members for a one-time initiation fee of $42,800 and an annual payment of $27,306.
Source: Fisher Island Club
Access to the golf course costs an extra $4,226 to $4,975 a year for both guests and property owners.
Source: Fisher Island Club
Fisher Island maintains more than 100 boat slips for yacht-owning residents. Yacht and 24/7 public ferry are the only way to access the island.
Source: Fisher Island Club
Fisher Island has been rumored to draw celebrities in search of privacy. Oprah Winfrey owned a condo on Fisher Island for several years, but listed the property for just over $2 million in 2008. Other past residents reportedly include tennis legend Boris Becker and actor Mel Brooks.
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