NASSAU, Bahamas -- Developers of Palm Cay will open reservations at 9 am today for Phase 3 of The Anchorage, its luxury condominium project that is emerging as the most sought after product to date in the fast-growing, oceanfront community on New Providence's southeast coast.
"When we opened reservations for the first two phases, demand exceeded supply and even with bank financing approval to complete sales, both phases were 90% sold out prior to completion," said Zack Bonczek, director of sales and marketing at the nearly 70-acre development.
"That early success with phases 1 and 2 pushed us to release Phase 3 slightly ahead of schedule. Since the November announcement that we would be taking reservations soon, there's been a great deal of interest so when 9 am comes today it's going to be exciting to see what happens. We could be 'sold out' in a matter of hours."
Sold out in this sense, explained Bonczek, refers to number of reservations compared to number of units available. The reserving buyer -- prospective purchaser -- may still have to qualify for bank financing. Pre-construction prices for the 2-bedroom (plus study) units with nearly 1,500 square feet of living space, 9-foot ceilings, hurricane-rated impact windows, granite countertops and fine finishes starts at $375,000. Single story and two-story models are available.
"The Anchorage which will include 50 condominiums when all five phases are completed is satisfying a demand for hassle-free living that is greater than we initially appreciated," said Bonczek. "While the beachfront townhomes are particularly attractive to the international buyer, the condos are proving very popular to the local market, especially to two segments - the young professional and the slightly older couple who want to downsize, simplify and avoid steps and the hassle and stress of outside maintenance."

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