Bezos Miami Neighbor Sells Empty Lot for $200 Million
Real estate investor Martin Frankel has listed an empty lot in the Miami neighborhood of Fisher Island, directly across the water from Miami Beach, for a staggering $200 million.
The property is a 0.4-acre lot located in the heart of the island’s upscale residential neighborhood, and although it’s vacant, it has a lot of potential for future development. Frankel purchased the lot in 2014 for $4 million, making a massive profit from his original investment.
Fisher Island is an exclusive community, home to wealthy residents, celebrity homes, and some of the most expensive properties in the area. The community is accessible by ferry or plane, and once you’re there, you have access to five-star amenities including the Beach & Bay Club, an upscale beach and tennis club with breathtaking views of the Miami coastline.
Frankel is offering the property for a reported $500,000 per foot, one of the highest prices ever requested for an undeveloped piece of land. He’s given no indication what he plans to do with the money if the lot sells for such a high price.
Potential buyers of the empty lot will likely be drawn in by its exclusivity, and the chance to build their own custom home, pool, or even a resort on the lot.
