The under-construction home at Residences at the St. Regis Los Cabos at Quivira was the most expensive villa for sale in the development.
An under-construction home in Los Cabos has sold for $15.5 million.
With original price of $16 million, this oceanfront villa was the most expensive home at the Residences at the St. Regis Los Cabos at Quivira, a brand new development in Los Cabos, Mexico.
The buyer of the luxurious home is Mr. Ramesh Cherukuri, a cardiothoracic surgeon at McLaren Health Care in Michigan, who said he purchased the villa as a vacation home to spend time in the destination.
The villa is scheduled for completion in 2023,and will be finished with input from the new Owner. Being built on the Pacific Ocean, it will span about 13,000 square feet of construction, with six spaceful bedrooms.
Dr. Cherukuri said he and his wife, Radha Cherukuri, fell in love with Los Cabos during their vacation last summer. He said he liked very much the concierge services at the St. Regis and that this home will be directly on the beach with its back against the cliff rocks. “I love that combination,” he said.
The home is designed to have a large game room,wine cellar, media room, service kitchen, chef’s kitchen, yoga area, gym, steam room and sauna. Outside, the roughly 0.4-acre lot will have a summer kitchen, multiple pools, a putting green and two fire pits.
There are nine additional villas in the developemnt, two of which have sold, and 25 condominiums, 16 of which have sold as well.
Olarena Hospitality Group, a Los Cabos-based developers, Mr. and Ernesto Coppel began construction on the project in January 2020, and sales began in January 2021.
The Los Cabos area, which includes San José del Cabo and Cabo San Lucas, is known for its resorts and beaches. This purchase is the priciest home real estate transaction to date on the Pacific side of Los Cabos, which has fewer luxury developments than the Sea of Cortez side.
The Pacific side of the peninsula is creeping up in price and branded resort residences are keep pushing numbers upwards.
Credits: Mansion Global/ Photos: The Internet