The Cloister Ocean Residences have sold more than $18.8 million in luxury, shared ownership real estate since summer 2015. The oceanfront development, located on the exclusive Southern coastal resort of Sea Island, touts inclusion of the coveted Sea Island Club membership, its ideal location, expansive and spacious floor plans, and recent refurbishments for its success. The gated community is now 70% sold out, with some ownership categories having only one or two ownerships left and some being completely sold.
Randy Burgess, Project Director for The Cloister Ocean Residences, said current owners and potential buyers have shown an increased interest due to limited availability. “Demand for The Cloister Ocean Residences has increased dramatically this past year. We attribute much of that to repeat Sea Island guests recognizing our incredible value, convenience and carefree lifestyle. Potential buyers also don’t want to miss the last of this unique opportunity to own Sea Island oceanfront real estate for a fraction of the initial and ongoing costs of traditional whole ownership vacation homes.”
Recently, each of the 22 one-, two-and three-bedroom residences was refurbished along with most of the public spaces as part of the property owner association’s ongoing commitment to maintain the property at the highest level. New interiors were designed to lighten and brighten the residences in a seaside motif while retaining the elegance of the signature Addison Mizner Mediterranean design seen throughout Sea Island. In addition, a new oceanfront infinity-edge swimming pool pavilion was unveiled. The residences are sold in deeded quarter-ownerships with just 88 total owners having use of their respective residence each month, experiencing all the various seasons at Sea Island.
The Cloister Ocean Residences are one of several real estate opportunities at Sea Island, where sales continue to be strong and increasing in recent years. In 2016 more than $123 million in sales were made by Sea Island Properties, up 21% over the prior year.
About The Cloister Ocean Residences
The Cloister Ocean Residences, just south of the Sea Island Beach Club, are a short walk or bike ride to The Cloister, the Spa at Sea Island, the Fitness Center, and the Tennis Center, close to dining, pools, theater and children’s Meeting Place at Sea Island. The residences are sold in deeded quarter-ownerships, providing 13 weeks of annual access— one week each month, each year. The 22 fully-furnished and equipped one-, two-and three-bedroom residence range from 1,104 to 3,102 square feet and sell for $375,000 to $1.1 million per quarter ownership.
Sea Island Club membership, which is included in a purchase at The Cloister Ocean Residences, provides privileged access to all the amenities and activities Sea Island has to offer, including 54 holes of championship golf,, access to the 65,000-square-foot Forbes Five-Star Spa at Sea Island and the Fitness Center, the Beach Club and five miles of private Sea Island beach. For more information about The Cloister Ocean Residences, call 912-634-4351 or visit cloisteroceanresidences.com.