An exclusive Miami island is getting a slew of $30 million-plus condos — and you have to be invited to buy them

A major Florida developer is one step closer to breaking ground on its most ambitious project to date, a building with 50 condominiums on Miami's posh Fisher Island.

It isn't the scope of the development that makes it noteworthy, but the fact that Related Group is making the homes available to buyers by invitation only.

Fisher Island, a seven-minute ferry ride south of Miami Beach that sits at the intersection of Biscayne Bay and the Atlantic Ocean, has been the home of the elite for many years.

It can only be reached by ferry or boat.

It's not unusual for wealthy people to keep their mansions under wraps, but we know they are former residents of Fisher Island. Fisher Island was America's wealthiest ZIP code in April of last year, with an average income of 2.5 million dollars, according to a new report.

The already-posh island now has a whole new level of exclusiveness due to the fact that only those deemed worthy can open a property.

Jon Paul Perez is the president of the Related Group. People can live their whole lives on the island and have close relationships with their neighbors. We want to make that feeling at our job. We want our buyers to get to know one another, and forge close friends that elevate this beyond just another home.

The site, which is the last developable parcel on the island, has been purchased by Related Group, Teddy Sagi, BH Group, and Wanxiang America RE Group.

The residences at the project will cost between $30 million and $60 million when completed, while the penthouses will cost over $60 million. The median sales price on the island in the second quarter was $6.5 million.

The exclusive Fisher Island Club, which has a golf course, tennis courts, and marinas, will be home to the three to five-bedroom condominiums. Tara Bernerd and Partners, a London-based interiors studio, will be designing it. By the end of the year, sales will be launched.

In the early days of the Pandemic, Fisher Island got all of its residents tested for Covid-19.

It pays to be exclusive of the island.