Thursday, December 27, 2018

Thursday, December 27, 2018 VIRGIN ISLANDS The Virgin Islands Daily News 7 Thatch Cay goes on sale for $27.5 million asking price By BRIAN O'CONNOR Daily News Stare ST. THOMAS —One of the largest pine islands n the ternary- is up for oak Late Christ us shoppers can snag it for 527.5 million. according to multiple local real estate listings. Thatch Cay, a twomilelong strip of land off the northeast shore of Si. Thomas. has been listed on seen! Io- ta/ real estate Sala Thatch Cay forms the northern boundary of Pillsbury Sound and is viable from Coki Point on the EastEnd of St. Thanes Mtn* Cay. the mitettn4st of the narrow islands to the north of Pillsbury Sound. is in a different paccel. The roughly 230-acre Thatch Cay has been in the sights of de.nopers for yeas Thatch Cay LLC. a company owned by Isaac and Mateo Levy. worked to develop the island fee about 15 years, alter the company purchased the prop- aty n 200l according to de deed The company sough: and obtained Centel Zone Management permits in 2009. and obtained alcnsians in 2010. 2011, and again over an appal in 2014. Ham submitted to the Coastal Zone Management committee called fee lot Mines and 24 sipped liuddings On the island including a community center. clubhouses. a yoga pavilion, spa. two dining areas. two tennis courts sew- age treatnent plants, a rewire osmosis plant. generators, a 21-tip deck. 25 boat moorings and a helicopter landing Accordingsoan investment prospec- tus developed by Thatch Key EEC, the project was divided up into two phases In the first thee. Jed:we planned to build working infrastructure, includ ing a deck. nuts, water tiltraties. and a heleopter pad. Redevelopment for houses occurred in the second phase. according to the docuniero local residents had epperied the development over ens:roan:caul con- tern. The turrets owners won't x - cep, updating coristrutlian penuu as a condition of sale. according to multiple real estate ads "The buyer upon swing a nondis- closure agreement may look at all the assessments, envirceinental studies. Thatch Cay has been hated for sale homes en the island off St Thomas. documents mimed to the previous per- mit but in no way is seller representing that the previous development option is pan of this sale:' an adwnwanent reeds. "Buyer may buy the island and have it as a invite elate similar recent island acquisitions or as a later date decide to develop it but the con- tract must not have the contingency of permitted ckvelopman plaits" Thatch Cay likely would present significue challenges to developers in- terested in turning it into a commercial real estate ulnekpenent. said Sharon lioppnch. alsancr-broker with Ca- lypso Realty "If it wet an easy thing to develop. it would have been doe already." she said. During the winter, the island is buf- feted by the trade winds and tan cur- rents on the Atlantic ode making for rough landing. liuppnch The coy probably would Sere better as the setting for a small-scale residen- tial doclorrent- liupprieh said. The island has been inhabited in the past, accosting to Thatch Cay TIC documents. Al various times since the 1703s, the island had a plantation, a small tithing village and a working copper mine. acceding to Thatch Cry LLC documents. Undeveloped single ownership is- lands. like Thatch and Grass cays, Sur- VIP Awards & EngravIn I Personalize your gift soni Pal For more information andlor d Ilona... CALL 340-774- i 01 Developers had sought to build 101 Propane LLC and Christian Kjaer. who pen wady awed pontoon of the island. The island has at least or. house with a swimming pool. based on Goode Slaps photo. Jenny Epstein — a multimillimuirc eurnwed of whaling underage pats crann by Weal authnnue. -- owns lerle St Anne bland sons-tows re- icrnM to as Lesser St Junes. The island his an exteiRdampound with a large decorative ms, nailtipk swimming pools. tennis mw. a Knee dock. Feb. pod and pee engraird with two large sea shells Mow heldings are etwaerni 'war the bsiklingi reetticrenom pen. Dog Nand a small edneleped cay off the southern tip of Little St. James Island is property of the knitorial 'hat at Creed slain goemmera l I round the larger inhabited islands in the Great M. lames Island —Someone> referred to 34 Rig St James Wand -- owned by Crew St. Jim LTC. follow- ing bed acquisition' in 2016 from 651 The Bra,. sands — Inner and Outer Brass —.taskoff St. Thomas's North Side, are a blend of pante and pubic ownership. A handful of people and companies own parcels on Inner Brass. whale Oster Brass belongs to the tonna-el goverment. according to propeny records At lent ex house n visible on wel- l:re photos of Inner Brass. The undeveloped Hans Lolliek Is- lands were purchased by a company called US Virgin blends Properties LLC in October 2014. Loryngo Cay. north of St. John. is subdivided into numerous pirate parcels. ad has multiple houses with swimming pools. Congo Cay and adjacent Car- vat Rocks belong to the territorial government. Buck Island north of N. Croix. Is owned by the federal government as Buck Island Reef National Menumen. Another Buck Island. closer to St. Thomas, with a define lighthome. is also owned by the federal government as the Buds Island National Wildlife refuge. The adjacent Capella Wand is owned by the territorial gewerment A third Buck Island this one off St John. w owned by the Territorial gov- ernment A 2010 US. Factory Service assess- ment identifies Savana Island and Sail Rock. the vbeaemmoal of the US. Vir- gin Islands. as protein., areas. - • C'eoper Brian O'Connor or 340. 714-9130 or mod bocomorgdoity. MI5's Big Lee Cistern Services since 1987 MAKING THE PATH ccat FOR OTHERS TO FOLLOW it Licensed, Bonded & Insured 340-775-7797 or 340-690-2927 • r 3 IJ Da r ts. tat; \ VPI fas-4 SERVICE, in DEDICATION, I II COMPASSION, VALUE. 3192 AlIONA AND WELCUNST. KE THomAs. VI 00802 'I'd. 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