An oceanfront villa in Mexico has sold for $17.5 million, setting a record, according to the developer, RLH Properties, for the Riviera Nayarit region, which is on the country’s west coast.
Part of One&Only Mandarina Private Homes, the home was purchased by a Boston-based partner at a private equity fund, according to Mandarina. Mansion Global could not independently confirm the sales price or the identity of the buyer.
The deal for the villa, one of the largest oceanfront parcels at the Mandarina resort, was made in advance of the official launch, according to Catherine Martin, sales director at Mandarina.
Boasting views of the Pacific Ocean, coastline and jungle, the more than 12,000-square-foot home—which is still under construction—will feature oversized windows to frame the vistas, plus retractable doors that expand the living space. The villa is set to be completed in about two years.
The layout will offer eight en-suite bedrooms, plus three powder rooms, according to marketing materials. It also boasts another 6,164 square feet of outdoor space, and is surrounded by the green mountains of the region.
The design was helmed by Tucson, Arizona-based architecture firm Studio Rick Joy, which used natural and locally sourced materials throughout the build.
Article Source: Mansion Global