In luxury real estate news, the hottest trend for the super rich like Tyler Perry, David Copperfield, the LVMH chairman Bernard Arnault, Tim McGraw and others is building out your own island on one of the 365 bits of heaven that make up the Exuma Cays outside of Florida. In case like most of us you never make it there, close your eyes and imagine:
During the 1970s and 1980s, however, the area’s reputation was marred when drug smugglers used the islands as a key trafficking point to smuggle cocaine to the U.S. from South America. Norman’s Cay was once the headquarters for Medellin cartel leader Carlos Lehder, before he was arrested in 1987. The Bahamian government eventually stabilized, and tourism in the country began to thrive in the late 1990s with the construction of massive resorts on Nassau and Paradise Island.
Perhaps the best-known private-island compound is magician David Copperfield’s 700-acre resort Musha Cay, which is spread across 11 islands. He purchased several of the islands a little over five years ago for more than $50 million and spent almost another $30 million gut-renovating and expanding his ultra-high-end resort there. There are five guest houses with private beaches, an outdoor movie theater and an on-site staff of 30 that includes a masseuse and sommelier. Visitors can rent the entire property, which has 40 private beaches and sleeps up to 24, for rates starting at $37,500 a night, including meals and beverages. (Penélope Cruz was married there, as was Google co-founder Sergey Brin.)
Tyler Perry’s island retreat, White Bay Cay, was also previously undeveloped and consists of a 25-acre island and a seven-acre island relatively close by; both are near Mr. Depp’s island. (The 25-acre island was listed at one point for $7 million.) The spread, which is still being completed, includes a 14,000-square-foot main house and five to six smaller guest bungalows. There’s also a spa, a tennis court and a marina. Mr. Perry’s representative said he had no comment.
The projects typically take 2 years to complete and because there’s obviously no nearby shops all materials and power generators and workers must be shipped in, which can be very expensive. But when you’re out there, who’s counting???
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