Teddy Sagi (Flash Photography 90 / Yossi Zeliger)
Israeli businessman Teddy Sagi announced today (Monday) that he and his two partners in real estate projects in the United States will establish a prestigious residential project in Miami Beach with an investment of $ 700 million. Sagi and his partners purchased the last plot of land available for construction on Fisher Island, an artificial island considered the richest area in the United States.
The project – which will be built in collaboration with the BH Group, an investment company and private real estate development company from Miami – will cover an area of approximately 18 dunams on which 26,000 square meters will be built. The project has the required building permits and regulatory approvals, and its construction time is estimated at three and a half years.
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“We’re only interested in the most notable locations in Miami, and it’s impossible to find something better than Fisher Island,” Teddy Sagi noted, adding that “despite the growing demand for top-notch pitches, we are very bullish about the long-term potential of South Florida in particular and Florida in general.”
The current deal is Sagi’s third in the U.S. in the past month. The first was the construction of a luxury urban center in Palm Beach with a total investment of half a billion dollars, and the second was the construction of a luxury residential project on the coast of North Miami with an investment of 86 million dollars.
Last week, Sagi’s name was linked to the “big game” affair, at the center of which Moshe is celebrating. In response, his media consultant said that “Sagi did not invest a single shekel in any of the celebrants’ ventures. The fact that the fraud suspects are using false dropping boys is outrageous.”
Fisher Island (Photo: PR)
Fisher Island, created in 1905 by businessman Carl Fisher, has over the past century become a resort for the wealthiest people in the U.S., with famous personalities living on the island over the years including former U.S. President Richard Nixon; The heir to the capital of the railway industry, William and Endbilt; And media woman Oprah Winfrey.
The size of the island is a little less than a square kilometer, and access to it is only by ferry or private craft. The island is closed to foreigners, and the entrance is only for its residents and guests or hotel guests. Due to its status, the island contains golf courses, tennis courts, beaches Private and other luxury services intended for island residents only.
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