Click to watch The Strand’s recording, hosted on the 5th of March 2024
After a phenomenal year, The Strand is advancing with remarkable construction progress. Developer John Fair, Vice President and Sales Thorn Capron, broker Joe Zahm along with Sophie Tidrick, Vice President and Development Director hosted an insightful webinar session unveiling the ongoing progress at The Strand and the projected opening of the resort this year!
The Strand has come a long way since breaking ground in 2022. The initial homeowners are already relishing their new residences, and the Strand is set to open officially later this year. Photos below are of the recently completed Luxury Residence.
For more information about The Strand please visit:
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
Step into an exceptional investment opportunity in the heart of Grace Bay, The Bight & Thomas Stubbs. Adjacent to the esteemed St. Regis development site and positioned across from The Somerset, with beach access proximity to Grace Bay Beach via Rotary Club Park public beach access, this exclusive 2.24-acre commercial land listing extends a rare invitation to make a substantial investment in this premier location. This offering is designed for those with a discerning eye for prime real estate investment. The strategic positioning, coupled with the prestige of its surroundings, establishes this property as the ideal choice for commercial development. Whether envisioning a landmark commercial project or an upscale development, this 2.24-acre canvas awaits your investment creativity.
Property details
Block: 60804
Parcels: 31 & 116
Property Type: Vacant Commercial Land
Location: Across from The Somerset on Grace Bay and adjacent to St. Regis Residences
Land Size: 2.24 acres
Grace Bay Road Frontage: 260FT
Princess Drive Road Frontage: 345FT
Zoning: Tourism and Hospitality
Building Restrictions: 50 units acre and 7 stories high
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
Discover the majestic shoreline of Ocean Drive within this prestigious and exclusive Turtle Tail neighborhood. Elevations are over 40’ of elevation. Lot 58 is a rare and generously sized 1.11 acres, with magnificent 145’ of linear ocean frontage. Surrounded by significant homes and embracing jaw-dropping views of the southern shoreline and endless Caicos banks at all times of day, the site is slated for an exquisite home and site with ample opportunity to create one’s idyllic island lifestyle.
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
Blondel Cove is a one-of-a-kind 6-bedroom villa in the exclusive Blue Cay Estate community developed by Windward within the desirable Leeward neighborhood on Providenciales. Boasting the ultimate in privacy on its own pristine stretch of 260’ of beach and ocean frontage, the unique site spans 1.34 acres and the best combination of tranquil beach and 400’ of dock and canal frontage with its own boat lift, with ample room for an array of watercraft and boats.
Completed in 2019, Blondel Cove is the only property within Blue Cay Estate to span two original channel-front lots for total privacy. Designed by Blee Halligan architects, high design is featured throughout this custom home’s exterior and interior spaces, from the gated entrance tucked in at the cul-de-sac, ocean views lead you into the 4-bedroom Main House over the entry walkways over reflection pools and through the dramatic foyer to the vast great room and pool terrace beyond.
The bespoke wet bar area off the great room, chef’s kitchen, screened outdoor dining and lounge terrace and ample indoor and outdoor lounge spaces afford a full array of entertainment possibilities. A signature illuminated onyx staircase leads up to the second level with its grand primary suite and second bedroom. The primary bathroom features dramatic black and cream quartz floor to ceiling. Jaw-dropping views abound from both levels through full height glass and top-of-the-line sliding glass doors.
A secluded large media room is set apart from the home’s main living areas. The fire-pit and beach lounges or Blondel Cove’s water pavilion at the end of its jetty, are perfect places to cap off the day. The gracious two-bedroom guest house flanks the dock and canal area, offering a discrete retreat from the main house. The fully equipped stand-alone oceanfront gym and tennis court, half basketball court, and golf net round out the exceptional amenities.
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
Sotheby’s International Realty Releases 2024 Luxury Outlook Report Uncovering New Hot Spots for Global Investment, International Destinations With Enticing Tax Incentives, and How Cities and Suburbs Continue to Fare Post-Pandemic.
Sotheby’s International Realty published its 2024 Luxury Outlook report, a comprehensive exploration into high-end real estate markets across the globe. Following several years of residential real estate frenzy, the report reveals that buyers have begun to acclimate to a new normal of higher interest rates, with high-end home seekers expanding their reaches to more parts of the world with Australia, Mexico, Saudi Arabia, and Turkey poised for growth. The report explores the trends shaping real estate investment decisions in the year ahead, from the intergenerational transfer of wealth, to pinpointing parts of the world where tax incentives are increasingly enticing.
“Our goal for the fourth edition of the Luxury Outlook report was to couple the expert insight of our agents with the perspectives of leading global institutions on the trends affluent buyers can expect in the months ahead to help them make opportunistic transactions in 2024,” said Bradley Nelson, chief marketing officer, Sotheby’s International Realty. “Despite higher interest rates, demand remains strong in many corners of the market, as people move both because they’re going through major life events—such as new children or new jobs—or simply because they want to upgrade their home and, with it, their lifestyle.”
The Sotheby’s International Realty 2024 Luxury Outlook report was compiled by surveying Sotheby’s International Realty agents around the world who transact in the US$10M+ price category. This information was complemented by gathering supporting data from other leading industry experts, including UBS; The Brookings Institution; McKinsey & Company; and property technology and security firm, Kastle Systems; in addition to art and luxury experts at Sotheby’s, the famed auction house, to round out luxury trends in the year to come.
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
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.
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
An Oceanfront Pool Studio at Rock House, operated by GRACE BAY RESORTS
Sitting at the Cave Bar at Rock House, on the Turks & Caicos Islands’ main island Providenciales, it’s easy to think that you’re on an island in the Cyclades: the resort is hilltop; built into a 75 foot limestone cliff; overlooking turquoise water and surrounded by walls composed of chiseled white stones. Mark Durliat, CEO of Grace Bay Resorts, of which this resort is a part, and his wife honeymooned in Greece, apparently, and transferred the romantic ambience (and Mediterranean cuisine) they encountered there to this nearly two year old resort. And it’s working: I checked in at the same time as a newlywed couple from New York and every day other couples were lined up by the pool, in the hideaway hillside terraces and on the 130 foot jetty decked out with loungers.
Mostly, though, they were in the water. This British Overseas Territory composed of two island groups 575 miles southeast of Miami is known for its beaches, perfectly clear turquoise water and teeming underwater life courtesy of a wrap around coral reef. The marquee beach is three mile long, powdery white sand Grace Bay Beach on the island’s north coast, regularly named as one of the best in the world. Rock House’s beach is to the west of that, smaller but very private in keeping with the overall secluded tone and intimate scale of the resort—46 rooms in individual cottages with several new one-five bedroom Reserve Villas opening March 1st.
The Lagoon Villas at South Bank: Long Bay
On the other side of the island, the more residential south coast, Grace Bay Resorts has a management project on a much larger scale set to open in May. South Bank, situated on 31 acres near Long Bay, is a combination residential ownership community/resort split into different neighborhoods with varying amenities; all, however, are populated with striking contemporary architecture containing sleek interior design, top of the line appliances and uninterrupted water views over the vivid blues of the Caicos Banks.
Boat owners will likely be drawn to the section The Launch featuring 2,077 square foot two bedroom and 2,839 square foot three bedroom Boathouses along the marina waterfront, each with its own private dock that can accommodate up to a 26 foot boat. Lagoon Villas are 3,982 square foot three bedroom and 4,295 square foot four bedroom residences situated along the beach of a manmade lagoon. Ocean Estates oceanfront houses range from 3,150 square foot, three bedroom Reef Villas to 7,683 square foot, six bedroom Dune Villa beach houses. All will be privately owned with many placed in the guest rental pool. A forthcoming building ARC will debut in 2026 with 17 Sky Villas designed by famed Italian architect Piero Lissoni; these will be only owned, not rented. Other facilities open to both property owners and guests: a lagoon front spa and fitness center; a Clubhouse with a bar and restaurant; a fully equipped marina and hard courts for racquet sports.
Luxury Residences, The Strand: COOPER JACK BAY
Also on the south coast, overlooking Cooper Jack Bay 10 miles away, The Strand is another luxe community development set to combine villa ownership with guest rentals but with a difference: in one category, the two and three bedroom Villas, floors can be locked off as separate units to be rented on their own as well as the option of a complete house rental. The design is also contemporary but with natural elements providing a warm counterpoint to the modern lines: etched limestone from the Dominican Republic, European oak cabinets and millwork. There’s also a strong sustainability element: owners can opt for solar energy and there are chargers for electric cars in the house’s garage.
Houses range from two bedroom, 2,740 square foot Villas to six bedroom Estate Residences with 7,312 square feet of interior space and nearly 7,000 additional in exterior space with beach frontage on one side and canal frontage in the back for a private boat slip. Facilities and services include a spa and fitness center, tennis and pickleball courts, excursions for bone fishing and snorkeling among other water sports and a Mediterranean/Mexican restaurant. The property opens in November.
A big thank you to all of the brokers who attended the event at The Summit on Friday the 15th of December 2023. The Summit, without a doubt, stands as a remarkable project, showcasing one of the most stunning views on the island.
Developer Julian Biggs, in his insightful words, acknowledged that while The Summit may not be the highest point in the world, it is certainly ours, signifying its uniqueness and significance to us all.
The Summit is a select pre-construction opportunity of only 9 villas positioned in a private residential enclave on the highest point in Providenciales offering commanding 180-degree ocean views over the North Shore. With vantage points from 94 to 160 feet above sea level, the Developers of Ridgeview and Karaya Blue, Latitude 22 are delighted to present this low-density development to the Turks & Caicos luxury market. At The Summit, unrivalled ocean views and an irreplaceable location combine with considerate design and organic modern architecture to produce a truly unique offering of 3 to 5 bedroom villas.
Environmentally sustainable, the design includes not only 7.5kw of 20 roof mounted Solar Panels, but also living ‘green’ roofs designed by Jörg Breuning whose organization Green Roof Technology has been pioneering the technology in Europe for over 40 years, and more recently North America and the Caribbean. This sustainable feature acts as a cooling aid, reduces rainwater runoff, protects against weather, and provides an additional habitat for natural flora and fauna ensuring the development enhances rather than imposes upon the beautiful natural surrounds and ocean views of its location in Blue Mountain.
South Bank is excited to announce that all Lagoon Villas have been handed over welcoming new residents to their exceptional homes to enjoy the Malibu-inspired lifestyle. Atilla Cimsit, our General Manager, and his dedicated hospitality team are ready to assist owners and guests with any requirements and can offer personalized recommendations to enhance the island living experience. Owners who are part of the South Bank rental program managed by Grace Bay Resorts and non-owners looking to experience the South Bank lifestyle next Spring, GBR is now accepting reservations for villa stays commencing on May 1st, 2024.
The Fitness Center:
For health and wellness enthusiasts, the state-of-the-art Gym featuring the latest Technogym equipment will be opened this month. Strategically located at the water’s edge, the Gym overlooks breathtaking views of the serene lagoon. Fully air-conditioned, it offers residents and guests the ideal setting for maintaining an active lifestyle. Next to the Gym, the Spa is also nearing completion to receive guests and residents into an array of bespoke wellness services.
The Clubhouse:
Those who have visited South Bank recently will have noticed the Clubhouse structure is now at roof level, promising an inviting indoor-outdoor experience with picturesque lagoon views. As the hub of South Bank, the Clubhouse will feature an internal dining arrangement that flows out to a central landscaped courtyard and romantic beach seating with dining options to include a relaxed yet sophisticated restaurant, an outdoor pizza oven, and a chic cocktail bar.
The Launch Boathouses:
Anticipating waterfront living with instant ocean access, the first two blocks of The Launch Boathouses, E and D will be handed over for occupancy in March 2024. These homes offer direct boat access, inviting owners to explore the archipelago at their leisure. Two remaining Boathouses are available for purchase. If you would like to know more on the latest availability, please contact our office. The Ocean Estates: Oceanfront living is becoming a reality at the Ocean Estate, with some owners already settling into their villas. The remaining Ocean Estate Villas are making progress, promising serene vistas and pure waters.
ARC Sky Villas:
Looking ahead to 2024, the developers are preparing for an exciting new chapter with the construction of Arc. The site for Arc is currently being leveled, with the Wastewater Treatment plant works well underway and the beach works having commenced. This striking addition to the South Bank community will break ground in Q1 2024. Only ten ARC Sky Villas remain available for sale, including one last remaining sunset-facing end unit. All residents of South Bank will enjoy access to a new resort beach, pool, bar, and restaurant that will be part of this new South Bank neighborhood.
For more information on ARC Sky Villas, visit our website or view the Youtube videos on this channel.
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
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.
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
Turks & Caicos Real Estate | Caribbean 