July 30, 2018
Good news, good cheer – Dozens of leading real estate agents and brokers recently turned out for a reception at Palm Cay, the residential community in a resort-style setting that hugs New Providence’s southeastern shore. Developers unveiled plans for the new $100 million One Marina residential project with 84 luxury condos ranging in price from $800,000 to $1.9 million.
Leading real estate brokers and younger stars turned out by the dozens last week for a reception at Palm Cay to get in on the ground floor, literally, with involvement in the new $100 million One Marina project, 84 luxury condos overlooking the popular marina and ranging in price from $800,000 to $1.9 million for the penthouse.
“Inventory is always a major concern for real estate agents and brokers so when we learn of a major development project like this, especially with waterfront and at the right price-point, it’s exciting, it’s hot, it’s very good news for the industry and for our members,” said Christine Wallace-Whitfield, President of the Bahamas Real Estate Association (BREA).
If inventory – pre-construction, midst construction or existing structures – is paramount for the 700-plus members of BREA, their participation is just as important for the developer, according to Palm Cay Sales & Marketing Director Myles Newell.
“We could not do this without you, that is why are doing everything to partner with you,” Newell told agents gathered for the reception that reflected the marriage of luxury and leisure that permeates the Palm Cay atmosphere. With beachfront bar and grill, live saxophone player, dressed high-top tables decorated with tall candles, lemons and native fruit, daybeds and canopies and butler-served canapes, the event mirrored a wedding reception as much as a business gathering.
“There is a vibe and atmosphere at Palm Cay that is unlike anywhere else,” said Newell. “And we wanted you to experience that feeling as we introduce our most impressive product yet, One Marina, with its modern style architecture, fine finishes and location right on the marina that has been voted the most popular marina in The Bahamas four consecutive years.”
Newell promised agents and brokers full payment of commissions upon closure of contracts rather than waiting until units that could be two years under construction were ready for occupancy. He noted that in a previous project he handled on Paradise Island, some 93% of the sales under his direction were in conjunction with real estate agents or brokers.
“This is really impressive,” said Monica Knowles, Bahamas Realty’s top-producing agent in 2016. “I like the looks of the project,” said broker John Christie, who heads H G Christie, one of the country’s largest real estate firms. Danny Lowe, Timothy Smith and Ashley Bethel, all with Better Homes & Gardens MCR Bahamas Group gave the project a thumbs-up and Helen Dupuch from ERA Dupuch Bahamas agreed. “It’s exciting to have offerings in this price point that look so attractive.” Marilyn Ayearst of Bahama Islands Realty also agreed. “I hope it does really well,” she said. “I’ll look forward to showing prospective buyers.”
With some 40% of the first building sold, developers hope to break ground by late fall. Units range in size from 2,100 square feet to 3,000 square feet and the complex includes private pool, concierge service, high end finishes, storm-rated glass doors and windows, 24-hour security with residents entitled to access to numerous other amenities including membership in the club with fitness centre overlooking the water, tennis, restaurants, massage, yoga and special events, including family many tailored to families.
Palm Cay Director of Sales & Marketing Myles Newell invites brokers and agents to partner with developers in sales of the new $100 million One Marina project that is expected to break ground by late fall with 40% of the first building pre-sold.
Music to their ears – Travis Bodie plays a sweet sax as agents and brokers begin to gather for a reception unveiling the One Marina development at Palm Cay.
Colonial Realty’s Gino Maycock, centre, chats with agents at the recent Palm Cay reception for real estate industry partners. Developers have poured more than $65 million into the community to date and unveiled plans for the next phase, a $100 million, 84-unit development called One Marina.
Guys night out and it’s all work, sort of – Danny Lowe, left, and Timothy Smith, centre, top rookie producers at Better Homes and Gardens MCR Bahamas Group in successive years, and Bobby Chen, Coldwell Banker Lightbourn Realty, were among the real estate professionals who attended a reception at Palm Cay in Nassau last week when plans were unveiled for the new One Marina project, 84 high end residences overlooking the popular marina.