Home Run: Luxury Homes Super Salesman Mario Carey Sells Barry Bonds Paradise Island Home for $11.5 million

Posted by W. Larry Roberts — October 29, 2006

Larry Roberts, CEO of Bahamas Realty in Nassau, Bahamas reports that San Francisco Giants legend Barry Bonds has shattered more than the home run records of Babe Ruth and Hank Aaron – the slugger’s scored a home run in the real estate world. The seven-time National League Most Valuable Player sold his 5700-square foot, beachfront Paradise Island home this month for $11.5 million official records show. The sale was handled by Mario Carey, Managing Director of Bahamas Realty. “It’s unfortunate to lose Barry as a resident of Ocean Club Estates, but he was on the road so much he was rarely here. Now after surgery to his left elbow, he has to focus on physical rehabilitation, leaving him even less time in the immediate future,” Carey said. “On the business side, the speed of the offer on his residence -- which was very close to the asking price -- reinforces what we have been seeing in Paradise Island trends. While prices are beginning to soften in some markets in the U.S., including South Florida, Paradise Island and high-end properties are hotter than ever.” In September, Carey listed another residence at $15.75 million. He had the first offer in less than 24 hours. Although that offer was declined, it demonstrated how active the market for Paradise Island property is, said Carey, one of two brokers in The Bahamas to hold the designation of Certified Luxury Home Marketing Specialist. The other being Bahamas Realty CEO Larry Roberts. Even before the sale of Barry Bonds 5-bedroom, 5 ½-bath home, Carey was seeing real estate sales records on Paradise Island fall as fast as Bonds was knocking out baseball legends. Most sales, including $35 million in recent months in undeveloped lots, were in Ocean Club Estates, the 300-acre golf course and country club community at the eastern end of Paradise Island where other sports stars -- Michael Jordan and Jim Courier – remain among the celebrities and business giants who own property. New York Yankees up-and-coming star Gary Sheffield is building a home. Sales in the new four-building, four-storey condominium complex add to the strength of the Ocean Club Estates market. Lifestyle, location and confidence in the Kerzner product have a magnetic appeal, says Carey, who also holds the designations of CRS (Certified Real Estate Specialist) and CIPS (Certified International Property Specialist). “You can credit the success of Ocean Club Estates to a combination of factors, but outstanding among them are lifestyle, confidence in what Kerzner has created and limited supply. It’s a small island with limited land on which to build and a lifestyle that is hard to beat.” Adding appeal to Ocean Club Estates, Carey said, is membership in the Ocean Club Golf Club with its 18-hole Tom Weiskopf-designed course. “Buying property in Ocean Club Estates, whether a lot, home or condominium, entitles you to immediate membership in the club,” he said. “That’s huge because in many other high-end places, once you buy, you still have to apply for membership in the club, wait, pay extra fees and there is also a possibility that you will not be admitted. Because Ocean Club Estates caters to those who want an active lifestyle and the companionship of others like themselves who enjoy golf, tennis, boating or the spa, having immediate access to those facilities and membership in a club with a beautiful clubhouse is a real advantage. Plus they are minutes away from Atlantis with all its amenities – casino, dining, shopping, sports and entertainment.” It’s a package, says Carey, with all the right components. “In recent months more than $100 million in property sales have been contracted on Paradise Island where,” says Carey, “whatever is affecting some North American markets seems to be driving buyers this way.”

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