The Residences at The St. Regis Los Cabos Surpass $135 Million in Sales
LOS CABOS, MEXICO – JAN. 4, 2023 – Co-investors, Olarena Hospitality Group (Olarena) and Ernesto Coppel (Ernesto) today announce that The Residences at The St. Regis Los Cabos surpassed $135 million in sales. With $90 million in sales this past year alone, 2022 was a banner year in residential sales for Olarena and Ernesto.
“As we enter the final stretch before our opening later this year, the demand for residences has remained incredibly high not just from U.S. buyers but also from domestic buyers in Mexico,” said Myles Newell, Principal of Waypoint Resort Real Estate, the company leading sales and marketing for the property. “With Cabo recently setting sales records for its real estate market and the destination setting new highs for its visitation numbers, our timing to bring this spectacular luxury property to market could not have been better.”
What’s more, a selection of direct ocean view, standalone townhomes have just been released. Each of the five-bedroom townhomes, which start at $6 million and range from 4,645 to 4,689 interior square feet, includes an outdoor kitchen, private gardens, terrace, and a private pool and hot tub. The townhomes’ extensive outdoor areas are ideal for entertaining.
Sales success at the development has resulted in Phase 1 and Phase 2 selling out completely. Due to demand, Phase 3 condo residences were released to market at the end of last year, two years ahead of schedule, and have already exceeded 70 percent sold. These condo residences currently start at $3.3 million. Phase 3 also includes the only five-star branded direct oceanfront single-family villas available in all of Los Cabos, ranging in size from 10,226 to 17,028 square feet. The six-bedroom direct oceanfront villas have surpassed 50 percent sold, leaving only five remaining. The remaining villas currently start at $11 million.
Designed by SB Architects and Hirsch Bedner Associates San Francisco (HBA), The Residences are located on a 33-acre site at the Southern tip of the Baja Peninsula that features 1,200 feet along the ocean. Ultimately, the new property will feature a 120-room hotel and 74 St. Regis Residences.
Purchasers of The Residences will have access to all the bespoke amenities and services of St. Regis, along with access to the award-winning Jack Nicklaus Golf Course and Quivira Golf Club. Additional amenities include concierge services, seven resort pools, three distinctive dining experiences, exclusive St. Regis Spa featuring 10 massage rooms, state-of-the-art fitness and wellness center, Astor ballroom with 30,000 square feet of meeting space, a children’s club, and distinctive, privacy enhancing landscaping throughout the resort which includes art gardens, courtyards and natural areas.