Caribbean Real Estate Blog
Pond Bay, a Virgin Islands Real Estate Development will be auctioned off on May 26th
Virgin Islands Real Estate
– Investment Opportunity –
Location: Pond Bay – St. John, United States Virgin Islands
Bidder Registration Deadline: May 15, 2015
Date of Auction: May 26, 2015
Sea Glass Properties has just announced that they are the exclusive listing agent for the Pond Bay Club, located on St. John in the United States Virgin Islands, that will be going to auction on May 26, 2015.
What is Pond Bay? Pond Bay is a 15+ acre beachfront development on St. John, United States Virgin Islands. The site is made up of 26 partially complete units (62,280 sq. ft.), of which eight are oceanfront and face Chocolate Hole. Two of the eight buildings are presidential-style oceanfront villas, which have four bedrooms and total 4,290 sq. ft. per unit. The other six oceanfront villas are three bedrooms each, and total 2,275 sq. ft. each. All other partially completed units are within very close proximity to the ocean (pictured below) and all have three bedrooms and total 40,050 sq.ft.. The project is being sold with major entitlements in place including a Coastal Zone Management permit as well as the original site plans. However, the main point of attraction for investors and hotel developers alike is the rarity of this sort of development. Pond Bay is the only partially complete development of its size on St. John. St. John is nearly 60% national park with very little additional developable land, particularly with beach frontage. This is a rare opportunity to purchase a St. John, Virgin Islands real estate project of this size.
The U.S. Virgin Islands is the only English speaking U.S. territory in the Caribbean, making it uniquely attractive to the US tourist market and beyond. Pond Bay presents a great way for an investor to compete with other successful resorts in the premium Caribbean market. Hotels/resorts with a similar target market in St. John are Caneel Bay Resort, Gallow Bay Resort, Grande Bay Resort, and Sirenusa Residences. Nightly rates at these resorts have a starting point of $295 for an efficiency in the “slow season” to $2,000 for a large townhouse-style unit in peak “busy season” (slow season: mid-May to mid-November, busy season: mid-November to mid-May).
If you are interested in the Pond Bay development please call Nick Van Assche at 340.776.666 or email email@example.com