The Tribune

Palm Cay’s first condominium phase has been oversubscribed within two months, with 16 reservations received for 12 two-bedroom, 2.5-bath units.

“I think we hit the market just right - the right location, the right product and the right price at the right time,” said Palm Cay sales and marketing director, Zachary ‘Zack’ Bonczek.

With prices starting at $319,000 for a two-storey, 1,200 square foot residence, the condominiums known as The Anchorage are the latest in the community’s expanding list of offerings.

Mr Bonczek said: “We initially built town homes and offered single family residential lots, both of which targeted a certain market, with the town homes being especially attractive to second home owners who wanted a place in the Bahamas.

“As Palm Cay evolved from development to community with a host of new activities, including family fun Saturdays, happy hours on Friday evenings, sports events, charity art shows, we began seeing more people who were interested in condominium living.

“They love the active outdoor lifestyle with marina close by, now with the new tennis courts, the swimming pools, the $1.6 million refurbished beach, and they wanted to enjoy all those amenities in a hassle-free lifestyle with someone else worrying about mowing the lawn.”

The Anchorage product, said Mr Bonczek, filled that gap. There are three floor plans to choose from, including a single-storey option called the Acklins.

Palm Cay will build 50 units in total over five phases. Demand for Phase one could prompt an escalated start-up date for Phase two, originally planned for later this year.
Of the waiting reservations, buyers will be confirmed at an October 17 event.

Remaining reservation holders, who are unable to make a selection in Phase one, will have the option to be among the first to selected for Phase two, with pre-construction prices for the next phase to be announced at the upcoming event.

Palm Cay is a 69-acre residential community along New Providence’s southeastern shore. It features 300-plus single family lots, townhomes and condominiums, along with a 194-slip marina, clubhouse, two tennis courts, playground, swimming pools and 1,500 feet of oceanfront with a 1,200 foot long beach. Future plans include a fitness centre and full restaurant.