More than a year ago, Sandra Fiorenza and her husband Randall heard about Heinrich Von Hanau’s Fisher Island Links Estates development and knew they wanted in.
“We said, ‘Okay, here’s the money. We want to be a part of this,’” Sandra Fiorenza, a broker with One Sotheby’s International, recalled.
The couple closed on a $13 million deal with Von Hanau, an old friend, to buy 0.7 acres on two adjacent Links Estates lots, The Real Deal has learned. They are among the last developable sites on the entire island, one of the most exclusive and wealthy enclaves in the U.S.
The lots addresses are 1003 and 1004 Links Estates Drive, which is a new road on the island. They are adjacent to the golf course on the west side of the island, at the original 68 Fisher Island Drive address.
Von Hanau initially planned to develop all 12 lots at the Links Estates site himself, but in addition to the two he sold the Fiorenzas, he sold another two to an unnamed Brazilian buyer, according to Fiorenza. The unnamed buyer picked up the lots at 1001 and 1002 Links Estates Drive and intends to build a Raffael Portundo-designed home, she said.
Fiorenza expects her 20,000 square foot dream home to complete construction in 18 to 24 months. The couple is using the same contractor as Von Hanau, ASR Construction, because of the crew’s familiarity with Fisher Island’s logistical challenges, she said.
The Fiorenzas are building to occupy, but not opposed to selling under the right circumstances.
Von Hanau will develop the remaining eight lots as 10,000 square foot spec estates. According to Fiorenza, Von Hanau is asking $3,600 per square foot, putting the starting price of the homes at $36 million. Sales for the spec mansions started earlier this summer, and the first one is expected to be completed in 2025.
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The single-family homes at Links Estates break step with Von Hanau’s other developments on the island, which include the condo buildings Palazzo Del Sol, Palazzo Della Luna and Palazzo Del Mare. Demand for larger single-family homes surged during the pandemic, when shutdowns and remote work increased the demand for more space.
The Links Estates project received approval in late 2020, at the same time Von Hanau got the green light for a 10-story, 57-unit condo building at 6 Fisher Island Drive.
Von Hanau has been in contract with Related Group to sell the condo site since last October, following an unsuccessful legal play by three island residents to shut the project down.