Palm Cay Anchorage Condo Oversubscribed, Waiting Buyers Urge Accelerated Start for Next Phase

Wed, Apr 30th 2014, 11:50 AM

And then there were none. That was the resounding sound of success at Palm Cay this week when an oversubscribed condominium offering resulted in every residence being taken and a waiting list popping up for the next phase of the Anchorage condominium project.

Eleven hopeful buyers placed reservations for eight available units and learned during a lively reservations call who would be getting in and whose application would roll over into the next phase of the project.

“We got ours,” said an elated Carrol and Linda Sands, shaking hands with Sales & Marketing Director Zack Bonczek as a red sticker was placed on the unit they selected. The Sands were among the first to take advantage of this unique property offering when Palm Cay announced in March that it was taking reservations for the second phase of the five-phase Anchorage condominiums.

“Welcome to the first step in the next phase of your life,” Bonczek told the crowd of hopefuls who were aware that the offering had been oversubscribed. Many held hands and crossed fingers, hoping their number would be called.

“Clearly, this is a well thought-out product that is meeting a need in the market,” said Bonczek. “It’s the right price, the right size, the right location and the right timing.

Where else in The Bahamas can you find three-bedroom residences with private terraces, 9-foot ceilings, travertine tile, granite kitchen counters, hurricane rated doors and windows and fine finishes throughout inside a secure community with 1,200 feet of beachfront, swimming pools, tennis court, marina and restaurant in a pre-construction price range of the mid $300,000’s? You can’t. It just doesn’t exist anywhere else. The Anchorage is unique and that’s why it is hitting and surpassing its target.”

Plans call for 50-unit Anchorage condo project to be built in five phases. Buyers from this week’s reservations call have until May 2 to complete their contracts and construction is scheduled to start by the end of May. Construction on Phase 1 is slightly ahead of schedule with those eight units expected to be ready for occupancy in early 2015.

Last month, a 126-seat restaurant, Billfish Grill, opened under the management and direction of veteran restaurateur Peter Rounce and culinary artist and entrepreneur Lise Watson-Russell with Bahamian chef Anthony Carey at the helm. The restaurant (reservations required to pass security at the gate) is the latest promise delivered on in the family style community sprawled over nearly 70 acres with extensive coastline and wide beaches. A 194-slip full service marina now serves as a BASRA outpost. Lighted tennis courts, a family playground, two swimming pools and lush landscaping and lighting complement the combination of residential options that will total 300 single family homes, garden and beachfront townhomes and the Anchorage condominiums.

CAPTIONS: Photos by Derek Smith, Jr., DPA An elated Linda and Carrol Sands learn their application for ownership in one of the eight available residences in Phase 2 of The Anchorage condominium in Palm Cay has been accepted. The Sands shake hands with Sales & Marketing Director Zack Bonczek.

Hopeful buyers await a reservations call to see who will be the lucky owners of a condominium at The Anchorage inside Palm Cay, a nearly 70-acre marina, tennis and beachfront community along New Providence’s southeastern coast. Eleven buyers applied for eight units. Those whose names were not called this time will roll over to Phase 3. Priced pre-construction in the mid $300,000’s, the 3-bedroom condos with 9-foot ceilings, hurricane-rated windows and doors, travertine tile, granite counters and a host of desirable features are surpassing the target in sales. Construction is slightly ahead of schedule on Phase 1.

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