Cape on Kiawah condominiums, due to reopen later this summer, have sold 90 percent of their first phase homes, and leading developer East West Partners has accelerated its plans for a second phase of the oceanfront enclave.
The second phase of development will include 38 more units, resulting in a total of 78 residences in six buildings. Cape on Kiawah, which has sold 38 of its 40 Phase I properties – 35 of which will be completed on the first day – will be the first new beachfront condominium development on Kiawah Island in more than 30 years.
Located on 14 acres in the original West Beach area of Kiawah Island, Cape on Kiawah currently offers three and four bedroom oceanfront floor plans ranging from 2,296 to 3,795 square feet. Prices start at $ 5.9 million.
The first phase will be laid this summer, and the estimated timeline for the second phase will be announced in the coming weeks. Buyers for Phase One Residences at The Cape on Kiawah include existing Kiawah property owners as well as New Yorkers, North Carolina and Kentucky residents. The project will also include an oceanfront beach club with an infinity pool, fitness center and spacious sun deck.
“We are very pleased with the overwhelmingly positive response we are receiving with the development of The Cape on Kiawah, but we are also not surprised,” said Miller Harper, Managing Partner at East West Partners in Charleston. “Keiawah is a very attractive area for shoppers because of its scenic nature, proximity to Charleston and abundant amenities, and the headland is another example of this. We look forward to building these residences and continuing East West Partners’ long tradition of creating stunning communities in world-class locations. ”
$ 134 million – the first half of the record for Maison
The agency announced that Maison Real Estate set a record for the company for the first half of the year in 2021, with deals concluded at $ 134,595,370 as of July 1.
The all-female real estate team is led by founding partners Leslie Turner, Mary Lou Wertz and Olga Page, all renowned for their deep knowledge of the local market. Maison’s first half ended with an explosion on July 1, when Turner and Jennifer Davis represented the seller and buyer at the closure of 60 Church Street, a 1754 home that sold for $ 5.025 million.
Other notable Maison deals in the first half of the year include 16 Tradd St. (sold for $ 1.384 million, buyer – Paige); 59-B Barre St. (which sold for $ 1.7 million and Werz represented the buyer and seller), 178 St. Margaret St. (which was sold for $ 599,000 and Wertz represented the buyer and seller); 14 Queen St. (which sold for $ 1.6 million and Turner represented the seller); 143 Queen St. (which sold for $ 1.55 million and Turner represented the seller); 32 N. Adgers Wharf (sold for $ 1.7 million, sold by Laura Farish); 53 Church St. (which sold for $ 2.9 million, buyer and seller represented by Johnny Hazelton); and 66 Poplar St. (which sold for $ 810,000, represented by Eleanor Smythe).
In addition, Page represented three buyers who submitted invisible bids at 59 Dereef Court, sold for $ 745,000, 190 President St., sold for $ 655,000, and 21 George St., Unit 402, sold for $ 785,900. Turner represented the buyer of Ion, 59 Creer Lane, which sold for $ 2.150 million. And Wertz represented the seller of 116 South Battery, a charming 1925 home a block from the tip of the peninsula that sold for $ 2.85 million.
RealTrends Wins 13 Carolina One Awards
Thirteen individuals and teams representing Carolina One Real Estate Services have been recognized by RealTrends and Tom Ferry International Coaching as some of the finest American real estate companies and professionals.
In the RealTrends and Tom Ferry rankings, Carolina One was ranked 64th in the country in terms of volume of deals closed in 2020 (from 9,095) and 65th in the country in terms of total sales ($ 3.53 billion). Locally owned and operated, Carolina One has over 50 years of experience in the Charleston market and today has 12 offices and more than 900 channel partners.
The following Carolina One agents and groups, ranked in order of sales volume, together generated $ 459.4 million in sales and 1,321 completed deals: 1, Chris Facello Group; 2, the Fox Family team; 3, Lowcountry Elite Group; 4, the team of Dede and B.V. 5, Everett Presson Group; 6, Jim Kempson; 7, Nancy Hoy; 8, Charleston Pier Partners; 9, Team Deb Walters; 10, Kieslinger Group; 11, Nienstedt, King & Associates; 12, Jay Costa; 13, Nicole Samios.
“The sales that these teams and individuals have achieved is an incredible achievement,” said Dave Sansom, Chief Financial Officer and Chief Operating Officer of Carolina One. “We are proud of all of them and are grateful that they have chosen Carolina One Real Estate Services as their real estate business partner. We look forward to continuing to play a key role in supporting all of our agents, and I personally look forward to seeing what they can achieve in 2021. ”
Local commercial terms are among the best in the USA
The Greater Charleston area ranks among the top 20 urban areas in the country with the most favorable commercial real estate conditions in 2021 according to an analysis by the National Association of Realtors for the first quarter.
According to NAR researchers, from a commercial point of view, the Charleston-North Charleston market is stronger than the US market as a whole. There are more jobs in this area than nationwide, especially in the retail sector. The unemployment rate is also lower than in the country, the population is growing faster than in the country, and more construction is underway than in the country, especially in the office sector. A large proportion of hospitality jobs have helped the region recover faster than anywhere else.
But wages in the Charleston-North Charleston market are also lower than in the country and are not growing as fast as in other countries. Job creation is outpacing the rate of obtaining housing permits at a faster rate than nationwide. And rent growth is growing faster than the nationwide rate, which means that tenants in the Charleston area are spending more of their income on rent than tenants in the rest of the country.
Overall, however, the NAR expected that the creation of large jobs and favorable economic conditions would bode well for the Charleston region in the future. “Commercial operations are likely to increase in the second half of 2021 and 2022 as more people are vaccinated, more businesses work at higher workloads, personal travel and business travel will increase, and consumer spending will rise,” the report said.
Two other neighborhoods in South Carolina were also named among the 20 best-selling neighborhoods for commercial real estate in the first quarter of 2021: the Greenville metro area and the Greater Charlotte, North Carolina neighborhood, which includes parts of York, Lancaster and Chester counties in Palmetto. Condition. Jacksonville, Florida, topped the NAR list.