Two developers with solid track records of performance announced today they are partnering to build Thirty Six, the first new luxury condominium on Paradise Island in more than a decade.

Set to rise on one of the few remaining vacant properties with sweeping views from higher floors, the four-storey structure will consist of 38 units ranging in price from $395,000 for a studio to $1.3 million for a penthouse with panoramic views of Nassau harbor and Paradise Island.

Aristo Development, headed by Jason Kinsale, and Sterling Bahamas, with David Kosoy at the helm revealed they have joined forces for the construction of the striking, contemporary complex on the eastern side of Paradise Island.

Its selection of studio, one- and two-bedroom residences will add to the fastest growing segment of the hospitality industry, condo-hotels where guests experience more roominess, comfort and convenience than in a standard hotel room.

Both Kosoy and Kinsale head companies with strong success records.

Kosoy is the best-known face of Sterling, an integrated private equity, real estate investment and development firm based in Nassau. In partnership with its principles, Sterling has developed in excess of $2 billion worth of real estate throughout the North American market.

Kinsale, Aristo’s CEO, is the developer behind the immensely successful $50 million Balmoral community on Sanford Drive. Under his direction Aristo is also building the $50 million ONE Cable Beach six-storey condo development where pre-construction sales are exceeding projection. More than 40% of the exclusive residences are pre-sold with piling and foundation work just underway.

The new Paradise Island condominium development will take Kinsale’s projects over the $130 million mark.

“We are very excited about the first fresh, new condominium on Paradise Island in many years,” said Kinsale. “Paradise Island has to be one of the most desirable places in New Providence to live. You see the ads and TV commercials for Atlantis and realize how the resort has kept itself current and relevant.

If you follow the real estate market, you will also know that Ocean Club Estates has met with substantial success. Yet there has been little activity in a very long time beyond what Kerzner and Atlantis have brought to Paradise Island and we believe that this new project, Thirty Six, will fill the void.”

According to Kosoy, both companies tested the waters before diving in.

“We found those turquoise waters to be very warm,” said Kosoy, who has made Paradise Island his home for a number of years. “The market is hungry for high-end properties on an island that has it all and where the reasonably priced residential offerings at the moment are limited.”

Owners of the fully furnished studio, one- and two-bedroom residences may place their residences in a rental pool that will be professionally managed allowing them to earn robust revenue as demand on the island continues to increase.

Studios start at $395,000, one-bedroom residences start at $495,000, two-bedrooms at $645,000. Two-bedroom penthouses with stunning views of Nassau harbor range from $899,000 to $1.3 million.

“In addition to having a beautiful and elegant place to call home when they are in residence, owners will be able to view their property as an investment,” explained Kinsale. The higher priced units will also appeal to those seeking permanent residency.

Owners will enjoy access to the 18-hole Tom Weiskopf championship golf course on Paradise Island.

They will be within minutes of more than 40 restaurants, shopping, casino and spas at Atlantis and the One&Only Ocean Club, which is also undergoing a $10 million renovation.

Units feature vast expanses of storm-rated floor to ceiling windows and doors, a distinctive sharp architectural design that maximizes property usage, balcony and patio privacy, 24-hour security and concierge service, full fitness centre, infinity pool and underground golf cart and vehicle parking.

HG Christie 2014 top-producing agent Ryan Knowles said he and the real estate firm were ‘thrilled’ to be named the exclusive agent for Thirty Six.

“We are dedicated to delivering a fully integrated marketing strategy for this stellar property,” Knowles said, “and understand the importance of this investment to Paradise Island as a whole and to prospective buyers in particular.”

Aristo Development and Sterling Bahamas are partnering to build 38 luxury condominiums on Bayview Drive on Paradise Island.

More info here: www.aristodevelopment.com, www.onecablebeach.com, 36paradisebahamas.com