Villas At Blue Mountain, Turks & Caicos Islands – Construction Start Slated for the Fall

Posted on June 28, 2024 by Turks & Caicos Sotheby's International Realty

Momentum Builds with Sell-Out Success of the Oceanview Villas, with only Three Oceanfront Villas remaining.

Turks & Caicos Sotheby’s International Realty and Villas At Blue Mountain are thrilled to announce that the three recently offered Oceanview Villas have been sold, leaving only three exclusive Oceanfront Villas remaining in this highly sought-after development.

Designed with a focus on the stunning views of Providenciales’ North Shore, these stylish homes embody casual elegance and provide the perfect setting for beachside living. Nestled in the heart of Blue Mountain, this privately managed collection of 12 homes offers an unparalleled combination of luxury, privacy, and breathtaking natural beauty. The Villas At Blue Mountain feature incredible indoor and outdoor living spaces, with open floor plans ranging from three to seven bedrooms, ensuring every amenity required for effortless modern living.

Renowned architect Rafael Amuchastegui and his talented team at RAD Architecture have masterfully designed these homes to showcase the harmonious blend of glass and stone, highlighting the stunning vistas of the sky, shoreline, and sea. Each villa is a testament to their commitment to creating spaces that enhance the natural beauty of the surroundings while providing a serene and elegant living experience.

“Blue Mountain was the very first place my family and I lived when we moved to Providenciales. Today it remains one of my favorite locations on the Island with its incredible views, private beach areas and stunning tranquility. I am very excited to be the development custodian of such a rare and timeless piece of paradise,” says Stan Hartling, CEO & Founder of the Hartling Group and developer of this project.

This milestone reflects the unique appeal of the development and the exceptional lifestyle it offers. Turks & Caicos Sotheby’s International Realty is proud to be working together with Stan on a project that is so close to his heart.

Villas At Blue Mountain are more than just homes; they are a sanctuary where residents and owners can immerse themselves in the tranquility of island living. With every detail thoughtfully considered, these villas offer a seamless blend of modern sophistication and relaxed charm.

Dee Agingu, Global Real Estate Advisor and listing agent, expresses her enthusiasm for the project. “I love Villas At Blue Mountain so much that I call it my home. I can’t think of a more inspiring place to reside and it is a thrill to be working alongside Stan Hartling and his team to represent such an amazing development. We are thrilled with our sales performance so far this year and look forward to selling out the remaining three Oceanfront lots in no time!”

Turks & Caicos Sotheby’s International Realty encourages all prospective buyers to schedule a private tour of the spectacular beach grotto as well as the land site to experience firsthand the breathtaking and expansive views of the remaining oceanfront lot.

View the remaining oceanfront listings here.

Book a tour here.

For more information or to schedule a private tour, please contact the Turks & Caicos Sotheby’s International Realty office I 1.649.946.4474 I info@tcsothebysrealty.com

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace.

For more information please visit http://www.turksandcaicossir.com.

Meet Dee Agingu, Global Real Estate Advisor, Turks & Caicos Sotheby’s International Realty

Posted on June 11, 2024 by Turks & Caicos Sotheby's International Realty

Meet Dee Agingu, a Global Real Estate Advisor at Turks & Caicos Sotheby’s International Realty. From Kenya to Turks & Caicos, she brings a world of expertise. For Dee, it’s more than transactions; it’s about happy customers finding their dream homes, forging lifelong friendships, and spreading joy with every set of keys handed over.

Watch why Dee is so passionate about real estate and the Turks and Caicos Islands.

Turks and Caicos’ Newest Residential Resort, South Bank, Opens in November

Posted on May 14, 2024 by Turks & Caicos Sotheby's International Realty

Views of the Lagoon Villas and Lagoon Islands

Anticipation builds as South Bank prepares to welcome guests into a realm of unparalleled luxury holiday experiences. Travel and Leisure underscores compelling reasons why considering South Bank for your upcoming trip to Turks and Caicos is a must.

The entire $400 million development, which is opening in phases, was inspired by Port Grimaud, a fishing village in the South of France. “It’s a place with a series of canals and life is lived on the water,” Ingo Reckhorn, co-founder of Windward, the developer of South Bank, explained to me over lunch. Boats can pull up directly to South Bank’s dock.

South Bank is so tranquil that when the waves are calm, you can hear a pin drop and might not see another human being for days. It’s located on a quiet, low-density part of the island that’s zoned for single-family homes. The secret weapon is combining seclusion with access to all the other Grace Bay Resorts properties. If you want a change of scenery, say an afternoon at Grace Bay for a sail on the property’s catamaran or a gourmet Italian lunch at The Rock House, it’s all at your fingertips and easily arranged.

South Bank was designed by Blee Halligan Architects, a firm based in both London and Turks and Caicos. They’ve created sleek, angular, and uber-modern structures that are more reminiscent of the architecture you’d see in Dubai than in the Caribbean.

There are four distinct neighborhoods, one of which, Arc, won’t open until 2026. The starting category is the boathouses, of which there are 38 one-to-three-bedroom residences located adjacent to the marina, each with its own private rooftop terrace.

The 18 lagoon villas, which range in size from three to five bedrooms, are located on the island’s first ocean-fed “swimming” lagoon (it’s only 4.5 feet) that feeds into the open ocean. Some of the Lagoon villas have private docks.

The ocean estates are the crown jewels, ranging from four to six bedrooms. The smallest one is 3,150 square feet, while the largest is in the range of 8,000 feet. And if my visit was sufficient to judge, there isn’t a bad view in the place. Estate villas come with personalized butler service.

Arc will be the structure most reminiscent of a hotel. Currently, it’s a construction site, but by 2026, it will be a six-story building designed by Italian architect Piero Lissoni with 17 residences, ranging from one to five bedrooms.

Food and Drink

When South Bank opens in November, Chef Neerul Tamar, a recent transplant from Sandy Lane in Barbados, will helm Lua, a restaurant with Mediterranean-inspired cuisine. We got a sneak peek (or rather, taste) when he cooked for us one evening. Tamar prepared a straightforward but perfectly executed meal of grilled red snapper with mango salsa, tomato mozzarella pesto salad, and steak with salsa verde that ranks among the most tender I’ve ever had.

There’s a beach firepit lounge, bicycles, a fitness center overlooking the lagoon, and a tennis and pickleball court.

Activities and Amenities

When the property officially opens in November, there will be a boat concierge who can arrange all things boating, including yacht rentals, diving excursions, and access to the coral reef research center.

The Spa

The spa, which has yet to open, will have four beachfront treatment rooms. It will be managed by the same company, Grace Bay Resorts, that runs the top-notch spa at the Grace Bay Club — a promising sign. Three very picky people from our group raved about their massages at the Grace Bay spa.

Source:

Travel + Leisure.

Read the entire article here.

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

South Bank Hosted an Insightful Webinar – View Recording

Posted on May 8, 2024 by Turks & Caicos Sotheby's International Realty

Click to watch South Bank’s recording, hosted on the 2nd of May 2024

With immense enthusiasm, we are delighted to share the latest updates of South Bank and Arc brought by Ingo Reckhorn, Developer of South Bank, Nikheel Advani, COO and Principal of the award-winning Grace Bay Resorts, and Joe Zahm, President and Broker of the leading real estate brokerage Turks & Caicos Sotheby’s International Realty.

The journey at South Bank has been marked by significant milestones. Among some of the most notable are the sold-out inventory of both the Ocean Estate and Lagoon Neighborhoods, and the completion of the stunning Lagoon Islands, accompanied by the majority of their luxurious amenities already in place. Additionally, we are thrilled to announce that the highly anticipated Clubhouse, home to Lua Restaurant & Bar and operated under the esteemed management of Grace Bay Resorts, is set to be completed over the next few weeks. We expect nothing short of excellence in every aspect.

The excitement continues as South Bank prepares to embark on its final neighborhood: Arc. Positioned at the southwest corner of the illustrious development, Arc has remarkably secured over 50% of its Sky Villas by eager owners. The momentum is undeniable as we gear up to commence construction on this extraordinary project.

Estimated Key Dates:

November 2024: Completion of groins and beach work

October 2024: Groundfloor slab to be in place

February 2025: Roof level

June 2026: Completion of Arc

Subscribe to stay in touch

https://www.turksandcaicossir.com/eng

https://livesouthbank.com/

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Turks and Caicos Real Estate – 1st Quarter 2024 YTD Comparison

Posted on April 15, 2024 by Turks & Caicos Sotheby's International Realty

Real Estate Sales Volume Holding Steady as Pre-Construction Sales Heat Up

Turks and Caicos continues to be a leader in tourism and real estate sales throughout the Caribbean region and the sales numbers and pre-construction sales numbers certainly reflect this attraction to be a part of our incredible environment whether just for a brief stay or for a lifestyle.

There are currently a host of opportunities for new development offerings, some currently under construction and some that are about to announce their plans. A number of the larger parcels of beachfront land in Providenciales will be reshaped into high-end, branded hotels, and residences to keep pace with the seemingly endless demand for investment and vacation properties. Our superb tourism offerings continue to attract A-listers from around the globe as seen throughout the social media channels as well as buyers looking for a place to call home amongst the abundant turquoise blue ocean views throughout, the temperate climate, and tranquil laid-back Caribbean atmosphere.

The first quarter of this year witnessed another major groundbreaking celebration in Providenciales by the same developers of The Ritz-Carlton Residences with The St Regis on Grace Bay as well as the formal public sales launch by Grace Bay Resorts with The Point. These two new luxury developments have already recorded over 70% (St Regis Tower I of three towers) and 65% (The Point) units sold/reserved. The Loren on Turtle Cove, which broke ground in June 2023, is showing a unit sales production of 52%, and Andaz Turks & Caicos after officially breaking ground last year is reporting unit sales production at 65%. ARC at South Bank is 50% sold with construction to start in May of this year. This new condominium inventory is satiating the overdue demand with buyers who are willing to wait for up to three years for the completion of the resort properties. We are also gaining momentum on some of the boutique new developments such as Villas at Blue Mountain, with multiple pre-sales which will soon start construction, and The Summit at Blue Mountain, which has strong momentum and is well under construction. The positive side, for buyers to the delay in usage of their new vacation property, is the stage payments with new construction which fit the bill for those who prefer a payment plan for their Caribbean investments.

While the pre-construction sales in the Condominium Sector are high and not officially recorded within our TCREA MLS statistics, in this 1st Quarter, the re-sale condominium sales volume was $18M, 25%-65% lower in comparison to the past three years with the average price remaining high at $1.1M which resulted in a $/SF of $1,100 at the luxury end (+$1.5M). Also note that re-sale condominium inventory continues to remain low with DOM averaging only 118 days.

The Single Family Home Sector continues to lead the way albeit the sales volume is down from 2023’s numbers but steady in terms of healthy growth when reviewing the past five years. There are several pending sales that will be posted throughout this coming year and the new listings that have come on the market will help to fill the gap in this sales volume by the end of the year.

The Land Sector experienced a large spike in activity, as a result of five large transactions, Emerald Estate-$8M, Northwest Point-$7.5M, Grace Bay-$6.75M and $5.365 and Long Bay-$3.8M, which also raised the average price to $1.325M, an all-time record. Interesting to note, beachfront land in Long Bay was selling for $20,000 per linear foot of beachfront in January 2021 then hit a cyclical high of over $42,000/LF in January 2022. The 110% increase in value over a one-year period caused a pause in demand for a couple of years. This changed in March 2024 when we saw a modest increase of 10% to over $46,000/LF. The outer island land sales continue with this 1st Quarter seeing 30% of the land units sold from North Caicos, Middle Caicos, and Grand Turk.

Enjoy the beautiful spring weather wherever you are! We look forward to keeping you up to date with the real estate market in the months to come.

Do not hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Turks & Caicos Sotheby’s International Realty Spring Insights Newsletter

Posted on April 2, 2024 by Turks & Caicos Sotheby's International Realty

Elite High School Expresses Appreciation For Donation by Turks & Caicos Sotheby’s International Realty – December 2023

Posted on March 6, 2024 by Turks & Caicos Sotheby's International Realty

On February 28th, 2024, four students from Elite High Secondary School, accompanied by their head teacher, visited Turks & Caicos Sotheby’s International Realty to convey their gratitude for the generous donation made to the school.

Dyenyca Joseph, Roselove Til, Francisca Alexandre, Jovelane Francois, along with their head teacher Mr. Lumarvens Alexander, presented Joe Zahm, President and Broker, and Nina Siegenthaler, Vice President and Broker, with a plaque, speeches, and a video showcasing the school’s deep appreciation.

“I am very grateful for the donation made by Turks & Caicos Sotheby’s International Realty. The donation has helped the entire school with our projects, school-based assessments, and has enhanced our understanding of computers and kept us up to date with our work,” said Roselove Til.

As a company, we are dedicated to giving back whenever possible. Our ongoing commitment to supporting Elite High School has been both challenging and rewarding. Their gratitude serves as a touching reminder of the significant impact even modest contributions can have.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Turks and Caicos Real Estate – Year In Review 2023 YTD Comparison

Posted on January 30, 2024 by Turks & Caicos Sotheby's International Realty

Led by Significant Sales, 2023 Market Puts Exclamation Point on Happy New Year!

Wherever you were for the festive holiday and New Year’s Eve celebrations we all had plenty to celebrate and be grateful for. The fireworks along the beach closed out 2023 in fine form with a celebration on Grace Bay and beyond that was the best we have ever seen! We look forward to 2024 as we take a brief look back in this report at our successful results within our real estate market.

Of notable mention are two significant sales, one a TCI record of $88.75M for a 36-acre commercial parcel on Grace Bay known as Cotton Bay which is set to be developed into a new resort property. Details to come later this year. The other highly significant sale was a residential record of $33.5M for Sole E Mare by our own Nina Siegenthaler. Both sales helped lead the market to a new record in 2023 of $782,412,342, slightly surpassing our previous 2021 high of $768,737,714. Another contributing factor to the high sales volume was the posting of completed new developments which are defined below and within the charts and graphs in the full report.

In the Single Family Home Sector, the completion of numerous high-end villas at Emerald Estate, South Bank and Beach Enclave North Shore, many of which transacted in 2021, along with very strong new sales at The Strand, led to a whopping 104% annual increase in dollar volume ($488M vs. $238M) and a 128% increase in average price ($3,642,014 vs. $1,590,987). Of course, the record resale of Sol E Mare sale didn’t hurt! The significantly higher average price signals a new day for luxury single-family residences attached to outstanding luxury brands. With other luxury and super-luxury villas in the pipeline and under development, along with occasional re-sales, we should continue to see this average price point hold steady and establish a new normal.

The Condominium Sector, with limited existing resale inventory, decreased by 37% in dollar volume (from $182,337,530 to $114,353,700) and in unit sales by 38% (151 to 93), with average price points remaining steady in the $1.2M range. We are, though, seeing some record $/SF sales of up to $1,500 per SF for prime re-sales, often with competing bids. It appears that condo life is again highly attractive as everyone tends to enjoy having resort amenities at their fingertips. Owners are also finding that rental returns and operational standards are excellent in this sector. We have new development launches at St. Regis, The Loren and others, along with strong pending business with ARC Sky Villas at South Bank and The Point by Grace Bay Resorts and we expect both projects to break ground in the first half of 2024, on the heels of the upcoming completion of the Reserve Villas at Rock House, the second phase of this already widely acclaimed new resort.

The Land Sector was propelled by the $88.75M sale of Cotton Bay exceeding 2022 numbers by 15% ($166,507, 799 vs. $144,375,399) with average price up 70% (from $575,241 to $979,458). Another one or two significant land parcels could potentially transact in 2024 maintaining this new normal for land sales volume. Purchasers and investors remain thirsty for all forms of vacant land, from beach and waterfront, ocean view, canal front, near beachfront, and commercial, with momentum building in activity on our out-islands such as North, Middle and South Caicos.

On a macro level, the end of 2023 signals a close to the “Covid Era”, where we have experienced unprecedented growth in the luxury tourism and real estate sectors and normalized at significantly higher levels of activity and values than ever before. Watch for our 30-year review next month as we examine the past three decades of development in the TCI and analyze data for clues to potentially forecasting future trends.

Special thanks to our valued industry and community partners. We look forward to the season ahead more immediately to our 9th Annual Art Auction for the Ed Gartland Youth Center, to be held Saturday, January 27th at The Shore Club. Please contact us if you would like tickets. We hope to see you there!

We also look forward to welcoming you to our new groundbreaking IMMERSION THEATRE ™, where all our amazing developments and properties can be viewed in virtual realty on a 9’ x 16’ wall screen. We will be providing further information on this game-changing technology later this month.

Happy New Year from all of us at Turks and Caicos Sotheby’s International Realty.

Do not hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Merry Christmas 2023 from Turks & Caicos Sotheby’s International Realty

Posted on December 23, 2023 by Turks & Caicos Sotheby's International Realty

From everyone at Turks & Caicos Sotheby’s International Realty, we extend our heartfelt gratitude and appreciation for your ongoing support.

We wish you and your families a wonderful holiday season and prosperous New Year ahead!

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales info@tcsothebysrealty.com | 1.649.946.4474

Grace Bay Resorts Continues Its Growth In Turks And Caicos With Exclusive Release Of Sales At The Point, At The Renowned Point Grace Resort

Posted on December 18, 2023 by Turks & Caicos Sotheby's International Realty

Grace Bay Resorts, one of the leading and longest-standing developers and operators of some of the finest resorts and branded residences in Turks and Caicos –– is introducing its newest resort residential offering in Providenciales, The Point, located at the award-winning Point Grace resort, a longtime member of Small Luxury Hotels of the World. On the 7th of December 2023, The Point and Turks & Caicos Sotheby’s International Realty invited a selected few on an exclusive release of sales.

Positioned alongside this historic beachfront property, this new project follows hot on the heels of Grace Bay Resorts’ stunning success at Rock House.

The Point is slated for completion in 2026 and residences range from $2.1 million two-bedroom casitas, and $2.7 – $3.6 million for two & three bedroom condominiums to $6.0m for four and five bedroom residences. Only two, double story corner Penthouses have been designed, and are priced at $11 million USD each. Early sales for The Point have been strong, with the Grace Bay Resorts’ loyal customer following having already snapped up nearly 50% of the inventory.

Grace Bay Resorts brings its 2 decades of development experience in TCI to The Point, adding this prestigious property to a successful portfolio that includes celebratedresidential and hospitality properties Grace Bay Club, Rock House, West Bay Club and the soon-to-openSouth Bank.

Developer Mark Durliat said The Point is an artful collaboration between SWA Architects and Young Huh Interior Design. It is a modern take on the original Point Grace spirit, incorporating the highest standards in materials &finishes, including 10 ft ceilings, large format Italian porcelain tiling, luxury appliances from Sub Zero and Miele, bath fixtures from Waterworks and solid timber kitchens from renowned Italian designer Scavolini, which include full walls of natural stone.

Here are a few photos from the event.