Realtors want almost $60m for South Sound house

| 10/08/2010
(CNS): The Cayman Islands office of Sotheby’s real estate agents is looking for $59.5 million for a single home on the beach at South Sound. Castillo Caribe is being described as one of the finest beachfront estate homes in the world offering endless luxury. The realtors are also using the government’s recent move to encourage the rich to make Cayman their home as one of the property’s selling points. Sotheby’s says that Cayman’s tax neutral environment makes it “very appealing to people of high net worth to seek residency here – a position which is actively encouraged by the local government.”

 
 The 48,000 square feet property on South Sound has its own helipad as well as a wine Cellar/Grotto and an outdoor Kitchen. The list includes a pool, gym, tennis courts, four car garage, media room and the other usual requirements of the rich including indoor golf.
 
Anyone who wants to buy it or just see more pictures can log on to www.sircaymanislands.com
http://www.sircaymanislands.com/database/pptydetails.php?pptyid=298

 

 
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Comments (48)

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  1. Turtle's Head says:

    From the ghastly decor, I reckon they should try to sell it to the richest blind man in the world.

  2. Anonymous says:

    Wonder if this will be the Royal Cayman Palace for King Mac? He’ll need at least 40 staff including two 3* Michellin Chefs so we’ll need to add another $2million for labour and operation cost. Good luck

  3. Anonymous says:

    Great post, I agree 150%. 

    Grow up Cayman, be happy that someone is making an effort to keep our standards high and STOP dragging them down with you’re classless, ingnorant comments ๐Ÿ™‚ 

    I’ll have all of you know that this home was in the list of the top 100 mega mansions in the WORLD! That is great publicity for our islands to be featured in such a prestigious list! It will help others to see that this is a place still worth living in. 

    CNS: I would love to know what the home owners reaction is to you posting their home on this website, a public forum. You are not a licensed real estate company so but out of this one. AND of course people are going to be intrested in it, because this is Cayman and people LOVE sticking thier noses into what is nothing of thier concern.

    Kiveh. 

    =======================================================

    Any publicity is good publicity – so wonder no more about the owner’s reaction.  Just in case you don’t know, the correct spelling of "their" is "their" not "thier"…  And if you want CNS to stay out of people’s business, tell them to "butt" out of someone’s business, not "but" out.  In case that you’re interested, not your "intrested", but mine, "you’re" is the short form for "you are" and "your" shows possession.  Lastly, if you want to insult and call people ignorant, learn the word’s proper spelling – nobody is going to take you very seriously when you call them "ingnorant"… 

    • Anonymous says:

      In future, Kiveh Install the Google toolbar in your browser and use the spell check. This may alleviate any embarrassment to yourself. However, it may put the Professor out of a job. LOL

  4. Anonymous says:

    Why the emphasis on the homeowner/house? I’msure its the realtor that suggested the price. Realtors are like government – shortsighted. They keep going after the next big fish rather than price things fairly  and rely on volume / turnover. Its typical, in Cayman, to build then ask double the price – at least. Its always been this way. The only difference now is that its hard for outsiders to justify purchases when in their own country the $600k home is selling not for $1,200k, but for $300k. How long can Cayman’s real estate prices be immune to the global recession?

    • Anonymous says:

      Don’t you know "Cayman" is synonymous with "Value for Money"."Its a buyers market – this house will go in no time." Two weeks after you view you will get the inevitable call – "Someone else is interested, you need to make an offer." Why don’t we have more Caymanian realtors? I truly believe they would be more honest.

       

  5. Right ya so says:

    To each their own. 

    Not sure how these people made their money but I, for one, only wish I had the brains and wherewithal to do the same!

    Oh for a life not worrying about providing my children with the best education possible, my family and parents with enough to ease them into a comfortable old age, and enough left to provide education, food and clothing to those in Cayman so desperately in need.

    I wish them well.

  6. Anonymous says:

    It’s among one of the most beautiful houses in the world. When pictures of it came out on the web, they made their way all over the world, litteraly!!

    We should be proud it is located in Cayman.

  7. O'Really says:

    I am surprised to see some posters suggesting CNS should not have run with this news item. Surely a house in Cayman with an asking price of $60m is news.

    In any event, the owner is no shrinking violet, since love it or hate it, there is little doubt it is ostentatious in the extreme and I suspect the owner is fine with this. This is the same individual who decorated his London penthouse to achieve a style he described in the London Evening Standard as " Austin Powers meets James Bond". Groovy baby!

  8. Hallowe'en Jack says:

    So the seller is looking for someone with $60m dollars and a complete lack of taste and class.  Presumably the marketing will be targeted at the US and Russia?

  9. Anonymous says:

    Realistically, someone in this category could acquire their own island (with airstrip) and plenty of change to build their dream home…

    http://www.jameslist.com/advert/141108/for-sale-private-island

     

  10. Anonymous says:

    In my opinion, that property is absolutely stunning.It sets a new standard of living in South Sound.I hope that future new developments in that area are of the same caliber.

  11. Voice of Reason says:

    It’s a stunningly beautiful home, and those who prefer to live in shacks and mud huts have nothing to say about it.

    As to those sticking their nose in people’s business and posting it on CNS (which actually reflects badly on CNS given the personal nature of the information), it just might be that the owner is leaving to get away from you and your snoopy ways.  I know I would.

  12. the non-jealous type says:

    Why do people have to be so cruel? Cant we just all realise that one man’s palace may not suit another man style? The architechure of this place is outstanding and the interior is just as decadent and sophisticated. And the inhabitants are good people withgood taste. If thats what they like, then good on them. We do not judge you when you purchase hideous wicker furniture for your homes.

    Any mention of the "owners" baby showers and parties really just shows a side of jealousy…. do we ask what you do in YOUR homes? NO! So mind your own business! This mansion could quite easily be one of the most amazing houses Cayman has ever seen, but still there would be haters.

    Go stick your nose in someone elses business. Or better yet, tell the owner to his face if you really think all these negative things. I think that if you had to show your face, you wouldnt be so cruel.

    The only intelligent comments here before this one were from Kiveh and the person who suggested this could just be market research!

    • Kiveh says:

      Great post, I agree 150%. 

      Grow up Cayman, be happy that someone is making an effort to keep our standards high and STOP dragging them down with you’re classless, ingnorant comments ๐Ÿ™‚ 

      I’ll have all of you know that this home was in the list of the top 100 mega mansions in the WORLD! That is great publicity for our islands to be featured in such a prestigious list! It will help others to see that this is a place still worth living in. 

      CNS: I would love to know what the home owners reaction is to you posting their home on this website, a public forum. You are not a licensed real estate company so but out of this one. AND of course people are going to be intrested in it, because this is Cayman and people LOVE sticking thier noses into what is nothing of thier concern.

      Kiveh.   

    • Wicker Dude says:

      I’m crushed. Why didn’t someone tell me that wicker furniture was hideous when I was outfitting my entire house with it?

    • Fallen Angel says:

      Ah!  people who are minding other people’s business are those who does not have a business of their own to mind.

      Let us always remember that – anywhere/everywhere – there are always those that have, those that have not, and those that have not paid for what they have, yet.

      That’s why it is not good ‘to keep up with the Joneses’ because  you may end up as broke as them.

  13. Retreats Resident says:

    Is it $59,500,00 o.n.o… ? And will there be discount for cash?

    I need to know before I commit.

  14. Anonymous says:

    This could well be the official Premiers residence – surprised it has not appeared in the budget yet?

  15. ex-pat Eric says:

    Sounds like there are a lot of bitter and jealous people discussing this sale!

    If you don’t like it, don’t buy it and go home and stop whining!

  16. "Miss Chief Maker" says:

    Golly G, and they promised me I could have purchased this for a measly $70,000,000.00.  Guess they couldn’t wait on my "Pappie’ Shiek Al Hamid Dada" to turn out his pocket change.

  17. Kiveh says:

    Why is it that every comment which has been posted on this particular article is nothing but negativity? I’ll tell you why! J-E-A-L-O-U-S-YYYYYY is the name of the game!

    People of this country (for the record I am a born and raised Caymanian) absolutly SCORN anyone who has better than them, get over it! If you want somthing as good or relatively close to this then work towards it but dont bash people who have paid their dues and have what you only wish for! It’s none of your business in the first place what people have!

    The house is gorgeous, beautifully decorated and I’m sure if ANY of you had the opportunity to own it you would jump on it faster than white on rice!

    Tacky, ugly, distasteful? You all better be glad that the owners would even think of building such a nice residence in our island which is slowly becoming worse to live in! BE glad for people that have more than you, keep the negativity to yourselves. These types of properties are some of the only things keeping our island afloat and ATTRACTIVE!

    I dont even know why this article was placed on this website in the first place but so it go.

    For this magnitude of a property, it should have been privately listed to clientel who are actually in the pool for this price range and not plastered over CNS for the whole island to view and discuss! Not exactly what I would describe as a professional real estate move.

    Kiveh

    CNS: We picked this story up believing that people would be interested (and they are). It was not suggested by the real estate agents.

  18. Alex says:

    That is the problem with Cayman. Our government rely too much on the rich, Dart, Joe, and the rest of them for everything.

    The rich are just looking out for themselves. This false UDP view that money will just trickle down and benefit the rest of we common people, is FALSE!  It is like the Republican run government of the United States:  Love the Rich to the max – they will in return Love the low-wagers.

    That is why we need an Obama here! 

    • Anonymous says:

      In case you didn’t know, Obama is anti-Cayman. Moreover, the U.S. didn’t create its wealth through socialism. Obama hasn’t been able to fix the economy and is still blaming the Republicans. 

    • Anonymous says:

      Just when you think no one can possibly any stupider that a previous comment you’ve read, you read one like this…. 

  19. Pauly Cicero says:

    Mega Millions only $64 mil tonight. I’m gonna have to pass.

  20. Anonymous says:

    If the rich were buying this government’s story I imagine the owner of the house would not be selling!

  21. Anonymous says:

    That is in no way shape or form a ‘house’! Might as well open it up to the poubic and rent rooms. It could be like a mini resort. Serve breakfast and swim in the pools, have parties.. ๐Ÿ™‚

  22. Anonymous says:

    Is it pet friendly? Im looking for a house to put my cayman mutts in!

    mind you as it has its own helipad why dont the rcips buy it? They are good at spending huge ammounts of money on totally unneccessary items with absoloutely no purchasing knowledge whatsoever!

    You wait n see it will be a substation! LOL

  23. Richard Wadd says:

    The question to be asked should be, WHY (if this was indeed the dream-home of the person who built it) is the owner wanting to sell?

    Is it because Cayman is no longer an attractive place to live?

    Is it because of the HIGH levels of crime?

    Is it because of the EXORBITANT cost-of-living?

    Is it because of the growing hostility towards Expats?

    Or is it because there is just too little to do here without Casinos?

    It would be very interesting to hear the owners’ reasons, if he could be so gracious as to disclose them. 

    • Anonymous says:

      You forgot the number one reason – and that is…  drumroll please…..   It’s because he built it for $25 million…

    • Anonymous says:

      I doubt that this is a liquidation sale. If $60 million is not a good enough reason then I can’t think of anything else that would satisfy you.

    • Anonymous says:

      could easily be none of those reasons, but I got 1 million Cayman dollars that says it’s not the cost of living. 

      I seriosly doubt it’s any of the above because they would indicate that the owner ever wanted or needed to leave his mini mall  err house

    • Pending says:

      Its called testing the market, to actually see if anyone is out there who wold be willing to pay anything close to that. As another person stated, it was built for $25M.

      The reason it has jumped to $60M is simple, do the same equation everyone else does in the area  in terms of pricing by the square foot and voila! When you have a house that is 45K square ft, that is what it comes to. And if anything, the residnets in the area will see an increase in the price of their homes.

      He would accept anything over $30M easily.

  24. Anonymous says:

    Its looks like a hotel (on the inside). Who would want to spend £60m on a home to feel like you’re in a hotel???

    And so tacky.

    If it was not in residential south sound – I agree – it looks like it would be better suited for a casino than a private residence.

  25. Anonymous says:

    Delusional

  26. whodatis says:

    Well, I must say – that is one wompa of a house right there!

    But I am wondering – what is the target market?

    For with those "amenities" (I mean, wow!) it would be a bit of a waste as a family home. This house simply SCREAMS "playboy"! Alcohol and substance fueled parties for the enjoyment of scantily clothed young and beautiful people anyone?

    Ladies, if your man ever surprises you with such a home – don’t get happy … get worried! :o)

    And if you (ladies) are the actual purchaser … "How YOU doin’?"

  27. Anonymous says:

    A 25 year mortgage at 6.5% is only around $400,000 per month.  Pricey yes, but it comes furnished, so I’m thinking about it.   I am having trouble landing my helicopter at Ocean Club, so I might need this place.   Does anyone want to share with me? 

    • Anonymous says:

      LOL! I’m willing to share…..only probably is since I also have a helicopter, where do Iand/park mine?  

  28. genetic mutation says:

    ohhh goodie – i have been looking for a house between 40 and 70 million, set on half an acre, all on a main road.

     

  29. Dennis Smith says:

    Smart move knocking of 500k off tojust squeeze it in under $60,000,000 nothing like being price point sensitive when you want to move it in a down market.

    Too bad really after all the work it took to design and built it and then sell it before you had a chance to really enjoy it. Must have been the CUC power bill that would unsettle just about anyone.

    Only chance now is to apply for a gambling license and turn it into a private casino. Somebody better grab the parking spaces around it before anyone gets that idea.. oops. Sorry

    Anyway good luck, it must have been fun to build.

    • Anonymous says:

       You would be amazed at how many people actually get fooled by the "all for below $60m" thing. Wal-Mart does it everyday. All for under $5……..$4.99 to be exact. Brandsmart is trying to compete so they decided to go with the 88 cents thing. 

      I know it sounds absolutely ridiculous to us island people but you gotta understand to super-rich folks, $60 million is chump change……a shopping spree for the Mrs. in some cases. 

      Sotheby Cayman can retire off the commission on this one!

       

    • Anonymous says:

      That’s a great idea about the casino, as it is a pig-ugly house with interior design that can only be described as infantile. Plus the owners were too cheapskate to buy the neighbouring plots so it sits on a ridiculously small plot of land.60m is ludicrous – they will be exceptionally lucky to get 10.