For wealthy New Yorkers accustomed to $10+ million urban homes, buying a Bahamas condo for $3 million doesn’t seem so bad.
At least, that’s what Danish architecture firm Bjarke Ingels Group (BIG) and real estate company Douglas Elliman are hoping.
They have teamed up on a gorgeous new project called the Honeycomb on the south coast of New Providence, named for its geometric and organic façade. The midrise condominium will face a marina and the ocean, and feature apartments ranging from two bedrooms to seven-bedroom penthouses.
The 34-unit complex is a part of a larger resort known as The Albany, a project developed by the Tavistock Group with investors such as Tiger Woods and Ernie Els, and would be the tallest building in the area, according to the press release.
“The idea with having Douglas Elliman on board is that the New York buyer hasn’t been addressed,” Horacio LeDon, a senior managing director at Douglas Elliman Development Marketing, told The New York Times. “Wealthy New Yorkers have been going down to the Bahamas for quite some time, and all without any proper marketing. We aim to change that.”
Compared to some Manhattan real estate, the condos are relatively cheap, costing roughly $1,600 to $1,700 per square foot after closing costs and other expenditures, according to The Times (that’s a range of $3 million to $12.5 million). In Manhattan, square footage can go for many times that price.
Each apartment comes with an outdoor private terrace, as well as a pool. Honeycomb will break ground this summer, and opens in the first half of 2016.
SOURCE: BUSINESS INSIDER
PHOTO: Courtesy of Bjarke Ingels Group
