Dart Realty buy Courtyard Marriott Cayman Islands

In what is widely considered to be great news for Cayman Islands Real Estate Dart Realty (Cayman) Ltd. announced Wednesday that it had purchased the 232-room Courtyard Marriott hotel from developer Stan Thomas and his companies. The hotel closed after sustaining damage from Hurricane Paloma in November 2008 and hasn't reopened. In addition to the hotel, the Dart Group acquired other properties in that area that were owned by Mr. Thomas, including the Cayman Islands Yacht Club and about 1,500 feet of Seven Mile Beach property. In the mid-2000s, Mr. Thomas paid some US$100 million to buy a patchwork of properties, which comprise about 300 acres. It was reported that he would develop a five-star resort that included an 18-hole golf course, a marina and residences. The economic downturn that began in late 2007 and the ensuing credit crunch crushed the plans for development. In late 2009, the Atlanta Journal Constitution reported that Mr. Thomas and his company were experiencing severe economic difficulties. Dart Realty Managing Director Jim Lammers said there was an element of "land stewardship" that was discussed by the Dart Group when it considered the purchase, and the possible negative implications of having the properties get tied up in litigation for an extended period of time. In addition, Mr. Lammers said the properties were purchased "because we believe they hold great potential for development over the long term". However, Mr. Lammers stressed that the Dart Group would take time to decide how to develop the property, undertaking a thorough analysis first. "We'll use patience and a multi-disciplinary approach to make sure we do it right," he said. "We're lucky to have some patient capital and real long-term view on Cayman." Adding the newly purchased properties to adjacent landholdings already held by the Dart Group - including the Salt Creek development and the Camana Bay Nursery - amounts to more than 500 acres. Dart Realty's CEO Mark VanDevelde said the acquisition of the Thomas properties brings great opportunity as well as great responsibility to develop the lands with thought and care in a way that creates lasting value. Although the Dart Group will take time formulating a development plan, Mr. VanDevelde said some remedial work would start almost immediately to improve the Yacht Club marina, which has been in a dilapidated condition since it sustained significant damage during Hurricane Ivan in September 2004. "There are a lot of immediate steps we can take to improve it without significant capital outlay," he said. As for the hotel, Mr. Lammers said the general thought was that the Hurricane Paloma damage could be repaired and then the hotel reopened, although he couldn't give any timetable for reopening. "We're pretty comfortable it doesn't have to be razed," he said This article is shared from an original article in the Cayman Compass by Alan Markoff.

USS Kittiwake Cayman's latest dive attraction

A decommissioned U.S. Navy ship was scuttled Wednesday in the clear Caribbean waters of the Cayman Islands, where officials say the sunken vessel will attract fish and tourists.
The USS Kittiwake, a 1945-vintage submarine rescue ship, rests on a sandy bottom off Grand Cayman's Seven Mile Beach. The 47-foot-tall (14-meter) ship is at a depth of 62 feet (19 meters), so the top deck is close to the Caribbean Sea's surface, making it easily accessible for snorkelers and divers.
Crews carefully flooded the rusty hulk so the 2,200-ton (1,995 metric ton) ship would settle upright. Holes were punched in the hull and large pumps gradually piped sea water into the ship, which was compartmentalized into three sections.
As it began to sink in a cascade of bubbles, the Kittiwake leaned a bit to its starboard side. But divers reported it landed upright on its keel.
"It was just perfect execution, nice and even. She landed exactly where she was supposed to," project manager Nancy Easterbrook said during a phone interview from a nearby boat on Seven Mile Beach.
The Kittiwake's scuttling raised mixed emotions in Jon Glatstein, who was a sailor on the vessel from 1984 to 1986. He traveled to this wealthy British Caribbean territory to watch his old ship sink beneath the waves.
"This is the first time I've seen the ship in 25 years, and she's in pretty rough shape. But she's been serving divers all her life and now she's going to continue doing just that. That's got to be a whole lot better than getting melted down for razor blades," said Glatstein, now an IT manager in Miami.
The ship, which assisted U.S. submarine operations around the globe for decades, was anchored in recent years among the rusting vessels of the James River Reserve Fleet, commonly known as the "Ghost Fleet," in Fort Eustis, Virginia. It was towed to the Cayman Islands last month.
About 40 boats carrying locals and tourists circled around the ship to watch it sink. Several parasailers enjoyed a birds-eye view under clear skies.
Officials had hoped to sink the ship Tuesday, but windy weather and choppy seas forced a postponement.
Divers will attach mooring lines to the ship on the seafloor Thursday, and the scuttled Kittiwake should be open to the public on Friday, according to Easterbrook.
Premier McKeeva Bush said the operation "represents the single most significant occurrence in a decade for Cayman's dive industry."
Besides being a lure for tourists, the Kittiwake will be an artificial reef that can shelter fish and crustaceans in waters known for excellent visibility and abundant sea life.
The Kittiwake joins the MV Captain Keith Tibbetts, a Russian frigate sunk off the coast of Cayman Brac in 1996 that is now decorated with a thick coating of sponges and corals.

The Great House, Seven Mile Beach

The Great House is one of the finest complexes on Seven Mile Beach. Overlooking powder white sand & the Caribbean Sea it provides luxury real estate in a beach front paradise. Two unique opportunities are available, The Penthouse a five bedroom two storey home & The Palm Court Villa, the closest option to a private home within a condo complex which includes a beautiful courtyard garden.

Within the Cayman Islands, famous for its beautiful beaches & world class diving, there is one beach that stands alone for its picture perfect beauty, and iconic representation of Caribbean paradise: Seven Mile Beach. Long known as “the islands that time forgot” Seven Mile Beach is now reaping the rewards of relative under development, The Ritz-Carlton Grand Cayman was the first seven storey complex in Cayman real estate history & currently there are only seven other residential real estate developments above the original three storey limit. Completed in 1991 The Great House is a land mark not only for its Colonial Caribbean architecture but as representing the zenith of low density beach front building in Cayman. With only twenty six apartments adorning almost four hundred & twenty feet of Seven Mile beach front The Great House has the lowest number of apartments per front foot for such a large width of beach front.

Apartments for sale at The Great House are therefore a rare commodity however the apartment in question is The Penthouse suite & sits front & centre in what is arguably the most desirable address on Seven Mile Beach making it the rarest of jewels in a magnificent crown. Designed by renowned Caribbean architect Ed Halliday, The Great House is a renaissance for the style of many stately Colonial homes found across the Caribbean with a twist being all the comforts enjoyed with modern life not least of all the circular centre piece pool overlooked by the balcony. The apartment is reached via elevator on the middle floor and unlike any other apartment on Seven Mile Beach The Penthouse at The Great House is set over two floors. Upon entering the apartment one is greeted with the elegance of a stately home rather than the usual feel of beach condo, with its spectacular ocean views across the pool, the living room entices you in and with its vaulted ceilings, wall to wall glass doors and high picture window it bathes you in natural light. Reached by either of two sweeping staircases the upstairs sitting area is relaxed and allows you to sit at eye level with the picture window, the perfect place to enjoy a famous Seven Mile Beach sunset. The living room leads directly on to the expansive balcony through sliding glass doors which can be opened to the full extent of the balcony so as to enjoy the sea breeze and the sound of the ocean gently lapping at the shore line. Adjacent to the living room the dining room also benefits from ocean front views & provides a spectacular setting for any entertaining occasion, it also leads conveniently into the spacious kitchen which in turn has a rear entrance for cooking staff.

The master bedroom provides uncompromising ocean views and an ensuite bathroom that will satisfy any desire to relax and unwind after a hard day at the beach. This wing also allows access to another bedroom which is currently set up as a home office, across the hall way to which is a further guest bedroom. On either side of the sitting room upstairs are a further two large bedrooms with ensuite bathrooms.

Not only does The Great House afford the charm & quintessential elegance now lacking in the high rise developments along Seven Mile Beach but it also provides the amenities you would expect in a luxury resort such as onsite management, feature swimming pool, tennis courts & gym. The Great House now stands alone for its level of exclusivity, its architecture & its location on Seven Mile Beach & whilst its owners enjoy a lifestyle second to none they are also pleased that their real estate value continues to increase accordingly.

Cayman Real Estate - Come out & preview two exceptional homes

 

Open House 10am - 2pm Saturday

Two great Open Houses presenting real estate in the Cayman Islands at its best.
La Dolce Vita, Drake Quay, Governor's Harbour
Natures Circle #40, Beach Bay Heights

The Heritage Club - Best real estate value on Seven Mile Beach?

Recently reduced to just US$649k The Heritage Club #5 is incredible value for Seven Mile Beach real estate in the Cayman Islands. As Seven Mile Beach sees further development of condo complexes now up to ten storeys The Heritage Club becomes an increasingly apt name for such a low density site and hearkens back to a time when Cayman really was “the islands that time forgot”. Sitting on one hundred and fifty feet of pristine Seven Mile Beach, The Heritage Club is an exclusive enclave of just eighteen apartments, with its unique design of three, three storey blocks unlike most complexes each unit at The Heritage Club has windows along each of its four walls maximizing the entrance of natural light within each condo. Built in 1989 by renowned Cayman Islands developer Brian Butler, The Heritage Club has since witnessed development on a larger scale, at first six storey complexes and since The Ritz-Carlton Grand Cayman opened, seven and now new legislation permits ten storeys. Although The Heritage Club retains the charm and character of a smaller complex having under gone a complete refurbishment in 2005 all of the apartments are modern and fresh. Having one of the deepest and certainly quiet sections of Seven Mile Beach, The Heritage Club is among the best places to enjoy what is one of the finest beaches in the Caribbean, whether from the pool or sitting on a sun bed beneath the shade of a Tiki cabana, the white sands, turquoise sea & setting sun will captivate for a life time.
This ground floor unit is perfectly positioned to provide privacy & light. Recently refurbished through out this spacious two bedroom unit boasts almost 1,400sqft with open plan living area leading through to screened patio with pool & beach beyond. Both master & second bedroom include en-suite bathroom. The Heritage Club currently represents extraordinary good value and is a first choice for purchasers of Seven Mile Beach real estate & the value of this real estate is added to by the popularity it holds with holiday renters who return yearly. Ground floor apartments are historically the most popular amongst renters as they have easy & direct access on to the beach, The Heritage Club has an on site manger who takes care of all the holiday rentals. This Heritage Club apartment is building sold furnished.

Luxury real estate channel YouTube

LuxuryRealEstateKY

For an easy way to view the best homes currently on the real estate market in the Cayman Islands please join our luxury real estate channel on YouTube: LuxuryRealEstateKY. Cayman Islands Sotheby's International Realty is pleased to present some of the finest residential homes, beach front estates, Seven Mile Beach Condos, canal front properties available in the Cayman Islands.

Auction, Casa Coyaba, Cayman Islands Real Estate

Register: Concierge Auctions
AUCTION NOVEMBER 3 | Selling to the Highest Bidder. Peaceful and tranquil, the Casa Coyaba estate will take your breath away. Majestic in both stature and structure, Casa Coyaba offers over 19,000 square feet of completely furnished indoor and outdoor living space, 210 feet of beachfront, a doubles tennis court and a 40-foot infinity-edge heated pool with spa. Gracious, large, open windows provide stunning views and an abundance of natural light for the spacious floorplan. Boasting 39 rooms, including eight bedrooms, 10 full bathrooms, two powder bathrooms, a library, two formal living rooms, a great room, a full gym, a theatre room, two master suites, two gourmet kitchens, two laundry rooms, separate nanny suite and two executive offices, combined with expansive outdoor living of nine open and eight covered balconies, the estate is grand. With a dynamic population and a simple yet sophisticated sense of community, political and economic stability, its no wonder the Cayman Islands is one of the finest places to live in the world.