High pre-construction interest as 11 units already sold at Aqualina

Before the first nail is hammered, Aristo Development has already sold the penthouse suite for its newest luxury development Aqualina on Cable Beach for more than $11 million.

The $100 million development, which sits just west of Baha Mar along a three-acre plot of land adjacent to Aristo’s One Cable Beach luxury development, is slated to begin vertical construction before the end of the year.

Aristo President Jason Kinsale said the sale set a record for a Cable Beach residence sold.

“We are four months away from coming out of the ground for vertical construction and interest in the development has been incredible,” he said.

The development would consist of 27 residences ranging in size from 2,600 square feet to more than 7,500.

The developer said already eleven units have been sold, with starting prices at $2.6 million.

Aristo’s Director of Sales and Marketing Matthew Marco said pent-up demand amid COVID-19 has proven to be a driving factor for high interest from ultra-wealthy, second home investors.

“The Bahamas has never been hotter. Some of the interest in high-end real estate is driven by COVID-19, with The Bahamas being recognized as one of the safest places on the planet to live. But there is more to it than that,” he said.

“The pandemic has made people stop and think about the quality of their lives and I think a lot of the relocation we are seeing is the result of a reawakening desire to live the best life possible.”

Marco added, “For the first time, the majority of our market is North American. In past developments we have seen a lot of interest from Europe and the UK, but this time, there is strong demand from the US and Canada.

“These are extraordinary times and we are really excited to be bringing this development to reality,” said Marco. “We think it will become one of the iconic buildings along the Cable Beach strip and representative of the good life in The Bahamas, right in Nassau, close to the airport, shopping, dining, world-famous resorts but in a world of your own with all the amenities and views you have ever imagined.”

In addition to offering the first boat club by Aristo Development, Aqualina also features an infinity pool, beach club, cabana and resident lounge, covered parking with electric car charging station, yoga and fitness center, tennis court and an over-the-top lobby with 24-hour concierge service.

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