In the News from Panama

Too Late! Last Penthouse Sold in Beach Club Residences

We were about to make a big announcement about the last penthouse available in Beach Club Residences, the waterfront development on Ocean Reef. But there has been a change in plans–the last penthouse has sold!

 This rooftop apartment was in Phase 2 of the BCR, which is located next to the site of the yacht club on Ocean Reef’s second island. The other penthouse units in the three phases have already sold and this one came on the market unexpectedly a few weeks ago, when it was added to the development plan.

I’m not surprised it sold so quickly. It is a beautiful 3-bedroom, corner duplex with a rooftop terrace, an option for a Jacuzzi or plunge pool, and spectacular, unobstructed views of the city skyline. It really shows off all the best attributes of BCR–top-quality amenities and style in a spectacular location.

The sale of the penthouse demonstrates what can happen at BCR. So many beautiful units have sold quickly, as investors recognize the solid fundamentals of Ocean Reef and the availability of price points that are unlikely to be seen again on Ocean Reef.

Two weeks ago we announced that six units were sold in the 30-day pre-launch window when PPR clients were given access to units in the third and final phase.  It’s really been exciting to see people react to the opportunity. There has been very little advertising–almost all the sales have come from word of mouth and our exclusive clients.

At this point, we only have one unit left at our “friends and family” pricing of phase 3. If you’re interested, please contact me and I’d be happy to offer the latest update on activity and availability. Things can change quickly.

Brian Kelly is a Project Manager of Punta Pacifica Realty, the largest sales, rental and property management firm in Panama City.