NASSAU, Bahamas -- Sales of luxury beachfront condos in the iconic $45 million ONE Cable Beach development are exceeding expectation with 40% of the residences sold prior to pouring of the foundation, the project's developer said today.
"The response to the offering of ONE Cable Beach has exceeded our projection," said Jason Kinsale, president and CEO of Aristo Development, which is funding and building the 7-storey, 69-unit ultra-luxurious condominium complex on Cable Beach. "I have been told - and we are trying to confirm - that the success we have enjoyed so far is unprecedented for this stage of a development and may be setting a record, with 40% of a residential project sold before the foundation is poured."
The project, which broke ground quietly without fanfare or a formal ceremony, has been humming along with hundreds of thousands of dollars of heavy equipment preparing the site and working on infrastructure. A sales office is open daily on the property west of Melia Nassau Beach Resort and less than a half mile east of Sandals Royal Bahamian on Cable Beach.
The success to date, Kinsale believes, is due largely to location - the last available acreage in the sought-after Cable Beach area directly on the waterfront.
"I drove around for one year searching for a suitable piece of property," he admitted. When the purchase was complete, an abandoned house had to be demolished and hauled away. But the linear footage and the high elevation made the site ideal for construction. "When you come out here and see the sparkling turquoise waters, it takes your breath away, even mine, and I am accustomed to developing properties. I am supposed to think of it as business but I can't help but feel a little emotional when I walk this property so I understand how people, especially those coming from the northern U.S., Canada and Europe, would be struck by its beauty and want to buy.

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