Ocean Reef Club, a private golf community in Key Largo, Florida, is getting its first luxury new development in nearly 20 years with homes going for up to $10 million.
The 2,500-acre community, around 50 minutes from Miami International Airport, is home to two golf courses, a grocery store, a veterinary hospital, 12 restaurants, a marina, and myriad entry points. "You can arrive on the road, you can arrive by boat, or you can fly into the private airport," said Richard Weinstein, vice president of membership and marketing at Ocean Reef Club.
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The luxury gated community already is home to around 1,500 homes and now, 121 Marina, a 27-unit new condominium building.
Before the residential building’s construction, a hotel stood on the lot; it also had a cooking school and space for conventions. Once those facilities were relocated, the former building was knocked down and construction began on the new development, said Eric Soulavy, president of Blue Jay Capital, the developer behind the project.
The homes will range in price from $5 million to $10 million and will span in size from three to six bedrooms. Nine units have already sold off plan, Mr. Soulavy said, and the remaining 18 are available to purchase now. The first residents will be able to move in early next year, with the building scheduled for a spring completion.
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The property is designed with hurricanes in mind, Mr. Soulavy said, and is elevated with extra window protection. Hurricane Irma recently put the building to the test and "nothing happened," Mr. Soulavy added.
Residents will have access to the building’s amenities, which include 10 boat spaces, a swimming pool, a fitness center, a clubroom with multimedia facilities and gaming tables, a putting green and a yoga lawn, along with all of Ocean Reef Club’s amenities.
Key Largo, the largest island in the Florida Keys, is situated between Everglades National Park and the John Pennekamp Coral Reef State Park, reportedly the only living coral barrier reef in the continental United States.