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$140M Foreclosed Piece Of Fisher Island To Hit Auction Block

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A healthy chunk of pricey Fisher Island, where even the boat slips cost more than $1 million, will be auctioned off in a $140 million foreclosure judgment involving an alien versus predator-like match between Georgian billionaires and insurance behemoth AIG.

About 15 acres of land approved for residential development, at 70 Fisher Island Drive and the neighboring ferry terminal, as well as a house at 6921 Valencia Drive will hit the block January 23.

"Mysterious" offshore lender FI Properties won the judgment against Fisher Island Holdings – the company contested by the estate of Georgian billionaire Arkadi Patarkasishvili and his half-cousin and former business advisor, Joseph Kay.

It seems half-cousin Kay's murder investigation took priority. Kay has charged Patarkasishvili's widow and a former business partner, Russian billionaire Boris Berezovsky, of poisoning Patarkasishvili shortly after his failed bid for the Georgian presidency. Snobby and inconvenient it may be, but at least no one can accuse Fisher Island of being boring.

· Fisher Island Land in $140 Million Foreclosure Auction [South Florida Business Journal]
· Fisher Island Back On Top [Real Deal Miami]
· Prime Fisher Island Yacht Slip Is A Whopping $1.4 Million [Curbed Miami]
· Fisher Island coverage [Curbed Miami]