Home News A $44.95 Million Home Lists in Puerto Rico, as Property Prices There Reach New Heights

A $44.95 Million Home Lists in Puerto Rico, as Property Prices There Reach New Heights

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A Puerto Rican home is on the market for $44.95 million, which will set a US territory record, said Ricardo Rodriguez of Puerto Rico Sotheby’s International Realty.

The roughly one-acre site is in Dorado Beach Resort, an upscale community about 25 miles west of San Juan, home to some of Puerto Rico’s most expensive homes, Rodriguez said. Rodriguez said the home in the resort is one of his 19 single-family homes in the Dorado Beach Ritz-Carlton Reserve.

The seller is Christopher Harding, 50, an entrepreneur, professional sports team owner, and art collector who moved to Puerto Rico from Florida in 2018.

A native of Louisville, Kentucky, Mr. Harding is the founder of Intelligent Brands, a food and supplement company, and co-owner of Antigua’s Hodges Bay Resort & Spa. Harding also has control of the parent companies of his two professional football teams, Louisville City Football Club and Racing His Louisville Football Club.

Harding initially decided to move to Puerto Rico because of the tax benefits, but said he stayed because of the climate, culture and lifestyle. Bought and paid $10 million in 2020, records show.

According to the resort’s website, Dorado Beach Resort was developed in the 1950s by Lawrence Rockefeller, son of John D. Rockefeller Jr. Rodriguez said the Ritz-Carlton owner of his Reserve will be able to take advantage of hotel amenities within walking distance of Harding’s home.

Built circa 2014, this home overlooks the golf course and is about 50 yards from the ocean. Rodriguez says it has about 5,600 square feet of air-conditioned space and a huge outdoor patio space. There are four bedrooms and staff quarters. Two of the bedrooms are considered primary and each have their own outdoor patio with volcanic stone bath and shower. The one-story home has 15-foot high ceilings, a chef’s kitchen, and floor-to-ceiling glass walls. Outdoors include a covered patio, pool and hot tub, and an outdoor kitchen.

There are two primary bedrooms, each with its own outdoor bath and shower. Brock Sorenson (2)

Harding approved plans to add a second floor and a roof terrace to the house, but decided not to move forward.

He filled the home with art from his collection, including works by Domingo Zapata, Brendan Murphy and others. Furniture included. Art is not.

Harding said selling the house would be “bittersweet” but would like to experience other parts of Puerto Rico, such as Culebra, a small island east of Puerto Rico. I’m in,’ he said. “Here’s an adventure to try something else.”

Rodriguez said the asking price is justified by significant price increases in Puerto Rico in recent years. influx of buyers Drawn by tax incentives and remote work opportunities. Dorado Beach’s median sales price in his first three quarters of 2022 was $6.22 million, up from his $3.4 million a year earlier, according to Sotheby’s data.

Over the past three years, several homes at Dorado Beach Resort have sold for more than $37 million, Rodriguez said. Five years ago, these properties would have fetched him in the $20 million range. An island sales record of $40 million was set last year, according to a local multi-listing service. Currently, a property on the southeastern side of the island is listed for his $48 million.

write destination EB Solomonto [email protected]

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