A new Residence has just been listed at the Montage Residences Kapalua Bay. Residence 2602, listed at $4,600,000, is the first condominium offered for resale at the Residences since 2011.
Originally branded the Ritz-Carlton Residences at Kapalua Bay, the developer sales began closing in 2009 and ended in 2011. The Residences are some of the largest condominiums offered for sale in Maui, with floorplans ranging from 2789 sq. ft. to 4055 sq. ft.
The Residences at Kapalua Bay Sales History: There has been only one resale, 1305, which closed at $2,850,000 in 2011. Original developer sales prices ranged from $2,800,000 to $5,735,000, the highest price paid for a condominium in West Maui.
Over the past decade there have been close to 40 condominium sales over $5,000,000 on Maui. Sales have been at properties such as Kaanapali Alii, Honua Kai, Coconut Grove, the Ironwoods, and The Residences at Kapalua Bay in Kaanapali and Kapalua, and the Wailea Beach Villas, Wailea Point, Maluhia, and the new Andaz Residences in Wailea. In 2013, two oceanfront condominiums at the Andaz, similar in size to the Montage Residences Kapalua Bay, closed for $10,730,250 and $11,395,000.
The new ownership group, who purchased the property in foreclosure, is in the process of registering the property with the appropriate licensing boards and will begin sales very soon. Perhaps as soon as the end of April, beginning of May. At this time, Pre-Registration Agreements and Planned Pricing for the Residences are both available for the remaining unsold inventory of 54 condominiums.
Contact me for more information on the Montage Residences at Kapalua Bay, including planned pricing, the Pre-Registration process, and to receive updates on the upcoming sales launch for the remaining condominium residences.
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