ARISTO Development and Sterling Global Financial yesterday announced they will break ground on their 38-condo unit joint venture, the first new residential development on Paradise Island for a decade, next month.
“The appetite for upscale residential properties on Paradise Island is greater than I have ever seen it, and with all permits now in place, we are excited to share the news that we will break ground on THIRTY|SIX in August,” said Jason Kinsale, Aristo’s president and chief executive.
The three-storey, contemporary style project will feature 38 residences ranging in price from $445,000 to just over $1 million. The property will have an infinity edge pool, covered parking, 24-hour security and concierge service, fitness centre, high-end finishes and amenities while ownership will entitle residents to numerous Paradise Island privileges.
Launched less than six months ago with a preview event at Graycliff, THIRTY|SIX is already 50 per cent sold, with the greatest interest coming from European, Canadian and US buyers. There are also Bahamians buying for investment or future use.
THIRTY | SIX is Aristo Development’s first project in partnership with Sterling Global Financial, an integrated financial services provider with more than $9 billion in assets under administration and operations in the Bahamas and Cayman Islands.
“We are very proud to participate as equity partners with Aristo Development, a company which has proven track record of success with fully sold-out projects like Hampton Ridge and Balmoral, and the ultra-luxury beachfront condominiums at ONE Cable Beach more than 50 percent sold prior to completion,” Said David Kosoy, Sterling’s chairman and chief executive.
Aristo’s sales and marketing director, Matthew Marco added: “This is Aristo’s fourth project and its first on Paradise Island.
“So whether people are buying for their own residence or for investment, they can look at the track record and see that Aristo does not just promise; it is a developer that delivers.”