The Loren puts four villas on the market
The Loren has put up for sale four villas that are under construction with asking prices starting from $3.8 million.
Two of the four-bedroom, 4½-bathroom units will be completed by the second quarter of this year, while the other two are scheduled to be ready by the first quarter of 2019. They range in price from $3.8 million to $3.975 million.
The move comes as three smaller villas at the hotel and residences complex have been taken off the market and incorporated into the hotel's inventory.
Penny MacIntyre, a partner with realtor Rego Sotheby's International Realty and exclusive agent for the residences at The Loren, said strong demand for the three-bedroom, 3½-bathroom units from hotel guests, meant they were no longer available to buyers.
The Loren, the island's first new hotel in 45 years, is coming off a strong first year in business and has attracted positive press in publications such as Condé Nast Traveler, The Telegraph, New York Post, Forbes, CNN Travel and Vogue.
Ms MacIntyre said the four-bedroom units offered a bit extra for buyers than the three-bedroom villas that were previously up for sale with a$4.2 million price tag.
“These are the last four available and I think the price point is more compelling, because they have an additional bedroom and bathroom, and 238 square feet extra, or 3,793 square feet in total,” she said.
The villas come with a “lock-off” option that allows owners to put part or all of the property into the hotel inventory to generate income from hotel guests staying in one the en suite rooms.
Each villa has a balcony, a private pool, an outdoor dining area on the pool deck, a garage, and a kitchen as well as resort amenities including restaurants, spa, gym and private beach.