For the buyer who has not signed yet and wants to know, before choosing between the island and the city, what the day of resale will look like: who may buy, who must approve them, and what travels with the deed.
This page explains. Whether the building suits you is a separate conversation. Contact the desk at Miami Dossier for the current position on any building we cover.
Neither is easier in the abstract; they are easier for different next buyers, and the mechanics decide that before the market does. Six Fisher Island, ~50 homes of 3 to 8 bedrooms with no published price, sells to a buyer who can pass the Fisher Island Club's approval as well as the association's and who wants an island reached only by water: a short list, and a list the Club controls. Waldorf Astoria Residences Miami, ~360 homes From $3,300,000, and Delano Residences & Hotel Miami, ~421 finished homes From $760,000, sell to anyone the association approves, inside towers where dozens of similar lines exist and a hotel brand's licence rides with the deed. The island sells scarcity to a narrow pool; the city sells a known line to a wide one. The buyer who wants to know which suits them reads four documents now: the approval clause, the rental rules, the brand or club papers, and the plan of the line they would one day list.
Five axes, from the developers' published material only.
Six Fisher Island. Price point: released on request. Delivery: no date in the material on our file. Unit mix: ~50 waterfront homes, 3 to 8 bedrooms, ~3,900 to over ~15,000 square feet; the last building to be built on the island. Position: Fisher Island, ~650 feet of shoreline, no bridge. Operator or brand: no hotel brand; a lifetime Fisher Island Club membership on closing subject to Club approval, annual dues the owner's cost; the offering is registered in New York, Massachusetts and California as well as Florida.
Waldorf Astoria Residences Miami. Price point: From $3,300,000. Delivery: no date in the material on our file. Unit mix: ~360 branded residences across 100 stories, furnished junior suites and 1 to 4 bedrooms, with hotel guestrooms and suites. Position: Downtown Miami, water on three sides. Operator or brand: Hilton Worldwide under licence of the Waldorf Astoria name.
Delano Residences & Hotel Miami. Price point: From $760,000. Delivery: no date in the material on our file. Unit mix: ~421 fully finished residences across ~90 stories, studios through 3 bedrooms in the released collection, furnished suites in select lines. Position: Fourth and Biscayne, Downtown. Operator or brand: Delano under licence with Ennismore and Accor, hotel below; Beach Club access and Accor ownership benefits subject to the annual fee.
Read the exit question at Six Fisher Island, the exit question at Waldorf Astoria and the exit question at Delano.
Every Florida condominium declaration says whether the association approves a buyer and on what grounds, and the answer shapes the pool. On Fisher Island there is a second gate the developer publishes: the Club sets eligibility, approves the member, and the membership is lifetime for the owner, which means the next owner applies too. A buyer who can pay but cannot pass the Club is not a buyer. Downtown, Waldorf Astoria and Delano carry the association's approval only, and the shared facilities agreement with the hotel; a foreign buyer, a company or a trust is as welcome as the declaration says. Read does Six Fisher Island approve buyers and tenants, does Waldorf Astoria approve buyers and tenants, does Delano approve buyers and tenants and can a foreigner buy property in the United States.
They decide whether an investor is in the pool. Delano publishes furnished suites in select lines and finished homes, which is the product an investor reads first; what the declaration says about minimum stays and the hotel's rental program decides whether that investor may buy. Waldorf Astoria publishes furnished junior suites with the same question. Six Fisher Island publishes 3 to 8 bedroom homes with a butler and a general manager; its rental rules are the island's and the association's, and a home of that size is bought to be lived in. A buyer who may one day sell to an investor wants the rental clause now. Read Delano short term rental rules, Waldorf Astoria short term rental rules, Miami short term rental rules and buying in Miami when you will not live there.
On Fisher Island, the Club membership: lifetime, subject to approval, dues the owner's cost, with the developer paying the initiation fee only for the first owner. The Club papers say what the second owner pays to join and whether the membership transfers or is reissued. Downtown, the brand licence: Hilton at Waldorf Astoria and Delano with Ennismore and Accor, each under licence, with the hotel's services and the owner benefits, Delano's Beach Club access and Accor status subject to the annual fee, attached to the home while the licence runs. A next buyer asks how long the licence runs and what happens to the name if it ends. Read what the brand does at Waldorf Astoria, what the brand does at Delano, club membership obligations at Six Fisher Island and what a brand actually does in a Miami branded residence.
In a ~50 home building the home for sale is often the only one of its kind on the island, which is the case for it and the case against it: no comparable, and no competition. In a ~360 or ~421 home tower several similar lines can be for sale at once, which gives the next buyer a choice and the seller a comparable. Delivery matters too: a home bought before completion is resold by assignment if the developer allows it and otherwise after closing, and none of the three publishes a delivery date on our file. Read how Miami resale behaves after delivery, can you assign a preconstruction contract and the small building question.
Six Fisher Island suits the buyer who will hold for years, wants the island's scarcity to be the case when they sell, and accepts that the Club chooses the next owner too. You give up the wide pool and a published price. Read the Six Fisher Island dossier.
Waldorf Astoria suits the buyer who wants a known line in a branded tower that any approved buyer may buy. You give up uniqueness; several of your line may be for sale when yours is. Read the Waldorf Astoria dossier.
Delano suits the buyer whose next buyer may be an investor, with a finished, furnished home at the lowest door Downtown. You give up the island's privacy and a residents-only deck. Read the Delano dossier.
The Fisher Island zone page and Fisher Island or Downtown Miami: enclave or city run the same two places on how they live. The desk reads the approval clause, the rental rules and the club or brand papers with the buyer before the reservation; what any home sells for later is nobody's to promise.
Contact the desk at Miami Dossier for the current plans, pricing and availability as the developer releases them, discussed one to one.
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We hold no listings and we are not the developer. Contact the desk at Miami Dossier and we will tell you what applies to your situation, what does not, and where we would not proceed. Where a question is legal, tax or structuring, we introduce you to advisers who handle that properly rather than answering it ourselves.
Samuel Strauch is the owner of Metrik Real Estate. His team of agents represents buyers in Miami pre-construction.
A person replies within 24 hours, usually much sooner. On weekends, back on Monday morning.
