$14.6M condo sold at Dorado Beach Resort
Puerto Rican real estate firm The Colectivo Group and its luxury specialist agent, Mónica Gotay, have confirmed the recent sale of a 3,800-square-foot unit at the Ritz-Carlton’s West Beach at Dorado Beach Resort for a record $14.6 million.
The transaction is valued at more than $5,000 per square foot, they said.
This is the seventh resale to surpass $10 million in the history of the oceanfront community, with The Colectivo Group involved in five of those transactions.
“Since the inception of Act 60 tax incentives in 2012, the luxury market has experienced a parabolic rise. Puerto Rico’s allure of island living, combined with its low tax rates, has attracted high-net-worth individuals, successful members of the diaspora, athletes and entertainers,” company officials stated.
For years, the municipality of Dorado has been a preferred destination for tourists. The ongoing development of the Dorado Beach Community by local developer PRISA Group over three decades has established a world-class destination for resort-style living, officials said.
“It’s the perfect combination of a peaceful community, crystal clear waters and being embedded within very generous nature trails that makes it the ideal place for retirement or escaping the stress of daily living,” said Ricky Santana, managing partner of the firm, regarding the West Beach and West Point condos.
