“Old Fort Bay is an exclusive, marina community on what’s often considered to be the prettiest beach in New Providence. It is close to prestigious schools, and both ownership and rentals are popular. Cohesive architectural styles that are unique to each sub-community lend a sense of harmony. Lush tropical landscaping and mature trees add to the old world feel.” Claire Thackray
Old Fort Bay’s marina, canals, and beach on New Providence provide a choice of prime properties by the water – and are particularly sought-after by boaters and beach lovers. Filled with romance and history, Old Fort Bay is the site of a fort dating back to the late 1700s, built by the British Crown.
Today, the private community exudes casual elegance, and property buyers have a selection of luxury properties to choose their ideal home.
Prices of Old Fort Bay listings at the start of November 2020 range from $2 million to $32 million for single-family homes (detached homes). In the last three years, luxury homes have been sold in Old Fort Bay for between $1.8 million and $4 million.
Listed lots on the Multiple Listing Service range between $1.6 million to $3.7 million, while those sold in the last three years were priced between $800k and $2.8 million.
Owners renting out their properties can expect a monthly income of around $15,500 to $18,500. The median home sold in Old Fort Bay was priced at $3.32million and was 5,926 square feet in size; it had 5 bedrooms and 6 bathrooms and was on a 24,248 square feet lot.
Owners in the secure, gated community can enjoy amenities such as tennis courts and a playground. Additional amenities include the clubhouse, restaurants, spa and gym, beach, and pool with the optional membership.
Here is a more in-depth look at some of the more popular real estate available in different areas of Old Fort Bay.
Canal Beach, Key-West Style Homes
Canal Beach comprises 22 home sites, of which 90% are already developed. The average price of homes sold in the last three years is around $2.75million and the active listing price averages $3,422,500. Claire Thackray says, “The architecture follows Key West and out-island-style, with wood sidings and metal or cedar shingle roofs. Canal Beach is attractive for its entry price point for waterfront properties within Old Fort Bay.”
Charleston, Period Homes
There are 14 homes on Charleston Drive, with only one on the market at $3.2 million. The community is fully developed. Claire says, “Charleston is an established community, set back from the main road for privacy and is within easy reach of Old Fort Bay’s playground.” The architectural influence in Charleston is based on period homes, with some influence of Georgian Colonial Style and decorative accents.
Charlotte, Caribbean-style Homes
One of the most active communities in Old Fort Bay, Charlotte island, comprises 31 home sites, of which around half are developed. Claire says, “Most properties here are traditional Caribbean-style architecture and have cedar shingles.” The average selling price for a house in the last three years was $3.67million, while land fetched $780,000.
The average price per square foot for lots sold in the last three years is $67 and for active listings is $81. Sold per square foot prices are 200% up on 2012 levels.
Club Villas, Villa Charm under the Trees
In total, there are 14 properties in Club Villas, with 1 home on the market attractively priced at $2 million. The average price of properties sold in the last three years is $2.77million. Claire Thackray advises buyers, “The most affordable homes within Old Fort Bay are those that are close to the clubhouse.”
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