Friday Billy attended the broker update for the Baccarat Wailea Resorts & Residences. A little more light was shed on the exciting new development including pricing, floor plans, a timeline and information regarding theGrand Opening Sales Event and potential subsequent lottery. We were also provided with a limited number of information packets and website information that we may provide to serious and qualified prospective purchasers.
The initial release for Baccarat Wailea Resorts and Residences will consist of 100 condominium units ranging from 1 to 4 bedrooms. Units are priced from $1,836,000 for a 1 bedroom 1 bath, first floor unit with its own plunge pool to $9,758,000 for a spectacular 4 bedroom 4.5 bath beachfront suite.
The Grand Opening Sales Event for the Baccarat Wailea Resorts and Residences is scheduled for July 27 at 9:00 AM. It will be similar to the event held for the Wailea Beach Villas a few years back. It is an all day event where offer sheets will be presented to the developer’s sales team. The terms of offers will not be disclosed, however, the number of offers for each particular unit will be posted. Prospective purchasers or their designated agents will have until the Offer Deadline, 5 PM July 27, to submit any best and final offers for the units of their choice. It is an interesting, fair, market driven approach and should lead to a fun day. After the offer deadline, the Seller will review and accept the best offers to purchase. Winning bids will be posted by 9 AM on the 28th of July. If there are multiple offers on particular units where there is no clear best offer or units that went unselected, there will be a lottery held beginning at 12 PM on July 28th.
Details regarding features, pricing and the overall feel of the development are still evolving. This is a new brand. Mr. Sternlicht has developed one of the finest reputations in the hospitality industry so the resort should fulfill its potential. If you are interested in learning more about the Baccarat Wailea Resorts & Residences or would like the Jalbert Brothers to help you secure a unit at the Grand Opening Sales Event, please call or e-mail us immediately.