Sotheby’s International Realty is growing in the Caribbean with the establishment of a new office in Puerto Rico and the signing of a new partner in the Dominican Republic, the luxury real estate firm announced this week.
Puerto Rico Sotheby’s International Realty Affiliates LLC recently added a second office at Palmas del Mar Resort, Humacao to service its ongoing luxury real-estate business. will serve clients from around the globe as they discover or rediscover Puerto Rico’s many offerings including properties of nearby islands, Vieques and Culebra.
The opening of this new office, which joins the first one Sotheby’s opened in San Juan in 2012, represents an investment of $750,000, including real estate and marketing.
High-end properties that will be highlighted from the Resort include Solarea Beach Resort & Yacht Club, the newest development of Palmas.
“Our goal is to bring attention and exposure to Palmas as one of the most beautiful settings on the island with a large diversity of offerings and lifestyles. The attributes of Palmas are many, but, its location directly across from Vieques and Culebra is a boater’s paradise,” said Margaret Pena Juvelier, owner of the local firm and a 32-year veteran in residential sales and property management, many of them with Sotheby’s in New York.
Since arriving to Puerto Rico, Sotheby’s has steadily reached its goals growing at a healthy pace with 2016 sales reaching more than $42 million, the company said. Southeby’s Puerto Rico operations has a team of nine brokers who have set new real estate standards selling properties in the island as high as $10 million, the most expensive sold in Puerto Rico.
Over in the Dominican Republic, Sotheby’s announced Thursday that Sergio Llach Luxury Dominican Properties os the newest member of its network and will now operate as Sergio Llach Sotheby’s International Realty.
Sergio Llach is the owner and operator of the boutique firm established in 2002 that serves the luxury residential real estate markets of La Romana, Punta Cana, Santo Domingo and Dominican Republic.
The Sotheby’s International Realty brand also has an affiliate in northern Dominican Republic, Holden Sotheby’s International Realty. The two brokerage companies plan to work cooperatively to best serve clientele around the island.