Dozens of brokers, agents turn out for Palm Cay reception
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 and Marketing Director Myles Newell.
“We could not do this without you, that is why we 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 percent 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. I’ll look forward to showing prospective buyers.”
With some 40 percent 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 center overlooking the water, tennis, restaurants, massage, yoga and special events, including many tailored to families.