Inside Two of Miami’s Most Coveted Enclaves: South of Fifth & Fisher Island

by Barbara Ciaccio

If you’re considering moving to Miami, and you’re looking for an exclusive, beachfront, luxury neighborhood, two options you’ll likely hear suggested are South of Fifth (SoFi) in South Beach, or the ultra-exclusive Fisher Island.

These two areas share some geographic and lifestyle similarities—both are incredibly beautiful neighborhoods that are home to affluent and high net worth (HNW) residents seeking a relaxed but sophisticated waterfront lifestyle with large condo home options—but they also have essential differences that make for very different living experiences.

In this blog, we’ll dive deeper into both neighborhoods and their buildings, comparing what makes them stand out in several categories, and why residents choose them. This way, you’ll be well-informed to make a confident decision as to where to start your property search or tell your luxury agent when choosing between South of Fifth vs Fisher Island.

The Lifestyle

South of Fifth or “SoFi,” as it is known locally, is the area of South Beach located south of Fifth Street. It’s the southernmost tip of the island of Miami Beach and offers a lovely, upscale lifestyle and more luxurious properties than the rest of South Beach or Miami Beach for that matter.

Most of its desirability comes from being a highly walkable neighborhood surrounded by water while keeping a more serene vibe than the more tourist-friendly lifestyle that the rest of South Beach is known for.

Now, although SoFi is an exclusive area by virtue of home prices, Fisher Island is far more exclusive than SoFi because it is its own island accessible only by boat, helicopter, or ferry. In fact, Fisher Island is the most affluent zip code in the entire United States, with median household incomes in the millions.

It is also characterized by being a small community. The island is under one square mile in size, and has a population of about 600 people, many of whom use their homes only part of the year as vacation or second homes—a key differentiator when comparing South of Fifth vs Fisher Island lifestyles.

This dynamic results in great privacy for its residents, making Fisher Island a popular choice among VIPs, with celebrities like Oprah, Julia Roberts, Karolina Kurkova, Boris Becker and Caroline Wozniacki having called it home at some point.

Getting Around

SoFi is a highly walkable neighborhood, with everything you need within a short distance from every residence, making car-free living a reality.

Also, since it’s part of South Beach, it benefits from having multiple transportation options available, including Miami Beach’s free trolley service, Miami Dade buses—including the Miami Beach Airport Express—, and Citi Bike.

If you’re a car owner, moving around is also a breeze, with the MacArthur Causeway being your main way in and out of Miami Beach. To move around the neighborhood, you might take Alton Road on the west side, or the iconic Collins Ave, which runs northbound all the way up through the island.

Fisher Island, on the other hand, is so small that the most popular methods of transportation within the island are golf carts, bicycles, or your plain old feet. The island is completely private—only residents and their guests are allowed in—and accessible only by ferry, helicopter, or boat.

To get to and from Fisher Island, most residents drive their cars to Terminal Island and board the ferry, which departs every 10 minutes on weekdays during morning rush hour and every 15 minutes all other times, 24 hours a day. Others access the island via private yachts.

The Work-Life Flow

Because they are primarily residential neighborhoods, neither SoFi nor Fisher Island is an area where you’ll find a lot of commercial business activity, making each retain a distinctly residential feel.

However, SoFi has some boutique hotels, a few small private offices, fitness centers and spas, and exclusive establishments, including some of the finest restaurants in Miami and Miami Beach—a perk that often comes up when people consider living in South of Fifth vs living on Fisher Island.

Fisher Island has a far less commercial life with only a small bank, post office, and grocery store on the island. The Fisher Island Club and Resort is the only real business in the area, with its small golf course, several restaurants, a market, a marina, a tennis club, and a spa. There is also a fire rescue station and a medical center on the island.

Outdoor Living & Waterfronts

Both have incredible park areas, open access to the water, a marina and beaches. They are truly exceptional neighborhoods to enjoy the unbeatable outdoor lifestyle and weather that South Florida has to offer.

The heart of the SoFi community is the beautiful South Pointe Park, where the Atlantic Ocean meets the waters of Biscayne Bay and Government Cut, where the cruise ships head out to port. The park offers direct beach access for swimming and snorkeling, as well as fishing from the South Pointe Pier, and you can kayak, paddle board, and jet ski from the marina on the west side of the neighborhood.

It also features beautifully landscaped paths, a large children’s playground with water features, a cafe and juice bars, and a Smith & Wollensky restaurant, where you can sit outside and watch the boats come in and out. The park is also a favorite of dog lovers, yoga practitioners, and those just seeking to spend some time outdoors.

On Fisher Island, waterfront residences surround a small, but competitive 9-hole golf course designed by P.B. Dye, and the Fisher Island Spa Club and Resort provides 17 tennis courts featuring all four Grand Slam surfaces, plus 4 pickleball courts. There is a small natural area for bird-watching and one mile of private beach graced with imported, powdery white sand. There are also two deep-water marinas.

Arts & Culture

If you live in SoFi, you’ll have easy access to all of the cultural offerings in South Beach (and Downtown Miami for that matter), including:

The yearly Art Basel fair at the Miami Beach Convention Center in South Beach and all of Art Week Miami
The South Beach Wine and Food Festival
Fashion Week Miami
Several other music, art, and street festivals

Beyond the events, South Beach is also home to iconic venues like the Fillmore Miami Beach at the Jackie Gleason Theater, which hosts a diverse lineup of concerts, comedy shows, and live performances, as well as other entertainment places of smaller scale and art galleries. And the Frank Gehry-designed New World Center, home to the New World Symphony.

All of Downtown Miami’s cultural and sporting venues, like the Perez Art Museum Miami, the Arsht Center for the Performing Arts, the Frost Science Museum and the Kaseya Center are all a 10-minute drive over the causeway from SoFi.

Fisher Island on its own has no public festivals or venues because it is so private and its residents prefer it this way. It has the Vanderbilt Theater at the Fisher Island Club, and its residents may occasionally hold private parties that include live entertainment by well-known celebrities.

If you want to venture out to mainland events, you will have to take the ferry to the causeway, or travel by boat or helicopter.

For both neighborhoods, cultural life is tied to their proximity to South Beach and Downtown Miami, where residents can enjoy the same festivals and events. The only difference is that SoFi residents can return home more quickly and easily after a night out, while Fisher Island residents have a slightly longer commute, relying on the ferry service or their private yacht as transportation.

The Shopping Edit

Being mostly residential, neither SoFi nor Fisher Island is particularly renowned for its shopping options. However, this doesn’t mean there isn’t any retail offering.

South of Fifth provides a charming and curated shopping experience with several boutiques selling unique fashion, artisanal goods, and accessories. For everyday essentials, there’s a Publix a block away from Fifth Street, as well as a Target, a Best Buy, and a Walgreens. Whole Foods is also about 5 blocks away on 10th Street. And then you are only about another mile away to a Trader Joe’s and Fresh Market.

The Lincoln Road pedestrian shopping mall will be your closest shopping, whether you are living on Fisher Island or in SoFi. So there is little difference there.

On the island, Fisher Island’s shopping is much more exclusive and limited due to its private island status. Retail options here are mainly the boutiques within the Fisher Island Hotel and the island’s private club, selling luxury resort wear, fine jewelry, and exclusive designer items. For everyday items, residents rely on the in-island grocery store or private delivery services.

For a wider range of shopping options, residents of both neighborhoods would have to venture out to mainland Miami or into Bal Harbour, which would require a 20-30 minute drive.

Signature Flavors

Although South of Fifth is a low-key neighborhood where you can bypass the hustle and bustle that characterizes South Beach, the area is home to some of the finest restaurants in all of in all of Greater Miami, and in some cases, the world:

The famous Joe's Stone Crab Restaurant has been a Miami Beach icon for decades
The South Pointe Tavern serves up food and drink fit for celebrities
Stubborn Seed, one of Miami’s Michelin-starred restaurants, allows you to taste the creativity of one of Miami’s top chefs
Azabu Miami, located inside the Stanton Hotel, serves exquisite Japanese cuisine
Call Me Gaby is where locals stop by for comforting pizza, pies, and pasta
Nikki Beach is best known for its amazing brunch menu, followed by a haute club scene
Carbone Miami serves Italian fare along with cocktails and wine in an opulent environment

Fisher Island, on the other hand, doesn’t have any restaurants open to the general public, but the club’s seven restaurants all have excellent reputations. Among the most popular eateries on the island are:

Fisher Island Beach Club Restaurant
Porto Cervo
Garwood Lounge
Theapolis & Library
Snooker Club
Greenside
La Trattoria

Top Schools

SoFi residents are served by South Pointe Elementary School, Nautilus Middle School, and Miami Beach Sr. High, all of which are highly ranked public schools. Still, many residents may prefer to send their children to local private schools such as St. Patrick’s and the Hebrew Academy, located in Miami Beach, or to private schools located on mainland Miami.

Fisher Island is also served by Miami Beach public and private schools, but the Fisher Island Day School is a small private elementary school exclusively for island residents, serving about 150 students in kindergarten through 8th grade (K-8 students).

Architecture & Design

South of Fifth, similarly to the rest of South Beach, is characterized by a blend of beautifully restored Art Deco buildings from the 30s, 40s, and 50s, and a selection of modern luxury condo towers ranging in architectural styles from sleek minimalism to Mediterranean-inspired design.

One common thread across all condos is that they feature top-tier amenities such as multiple pools, state-of-the-art fitness centers, concierge services, and on-site spas, with some offering panoramic ocean views with direct beach access.

Some of the most luxurious condos on South of Fifth include:

321 Ocean Drive, a modernist-designed boutique enclave, featuring only 21 exclusive residences.
Apogee South Beach, renowned for its artistic interiors by Yabu Pushelberg and top-of-the-line amenities.
Ocean House, Art Deco restored building with 28 residences and beachfront access.
Continuum South Beach North and South Towers, iconic beachfront towers with expansive units and resort-style amenities.

If you’re looking to buy a pre-construction instead, the upcoming Villa Sofia Residences is the only development in the area, offering 27 modern residences, allowing short-term rentals.

Fisher Island, on the other hand, is known for its single-family-sized condo residences, almost like condo mansions, private villas, and super-exclusive multi-family condo towers designed for privacy. The residences often feature oversized terraces, multiple balconies, and ample interior spaces.

Some of the projects on the island include:

Palazzo del Mare,
Palazzo del Sol, and
Palazzo della Luna, which are the most recent constructions.

The island’s only new development is The Residences at Six Fisher Island, an ultra-luxury, 10-story boutique tower offering just 50 units with expansive floor plans and ultra-exclusive amenities.

Prices & Perspective

The average listing price for South Beach residences is about $788,389, or $512 per square foot; however, listings in South of Fifth tend to run higher than that, with some of the highest-priced properties reaching around $33,990,000, or $45,320 per square foot.

Meanwhile, Fisher Island residences list for an average of about $5,567,078, or $1,489 per square foot, while the most luxurious properties can reach $50,000,000 or about $5,338 per square foot.

Another factor to consider when making the South of Fifth vs Fisher Island cost consideration is HOA fees. In Fisher Island, these can go anywhere from $3,500 to $7,000 per month, while South of Fifth’s HOA fees are significantly lower. And you will want to be a member of the Fisher Island Club to enjoy living there, which has membership fees and dues. Additionally, part of your HOA fees living on the island pay for your ferry service.

Which is the Better Choice? South of Fifth or Fisher Island?

While both SoFi and Fisher Island provide an upscale lifestyle with exclusive privileges and perks, the two neighborhoods attract different residents, mainly based on how much privacy and exclusivity you may desire.

If you dream of or need a very private resort living with golf and yachting as the center of your world, you may fall in love with Fisher Island. But if you prefer more accessibility and a laid-back lifestyle with easy access to urban offerings, we definitely recommend South of Fifth.

So, whether you’re considering South Beach’s South of Fifth or Fisher Island, or evaluating Miami’s many other neighborhoods, our team has over 20 years of expertise in Miami’s luxury condo market, which makes us the ideal choice to help you find the right Miami property for you..