A home in Puerto Rico is coming on the market for $44.95 million, which would set a record for the U.S. territory, said listing agent Ricardo Rodriguez of Puerto Rico Sotheby’s International Realty.
The roughly 1-acre property is located in the Dorado Beach Resort, a luxury community about 25 miles west of San Juan with some of the most expensive homes in Puerto Rico, Mr. Rodriguez said. Within the resort, the house is one of 19 single-family homes at the Dorado Beach Ritz-Carlton Reserve, said Mr. Rodriguez.
The seller is Christopher Harding, 50, an entrepreneur, professional sports-team owner and art collector who moved to Puerto Rico in 2018 from Florida.
A native of Louisville, Ky., Mr. Harding is a founder of Intelligent Brands, a food and supplement company, and a co-owner of Hodges Bay Resort & Spa in Antigua. Mr. Harding also has a controlling stake in the parent company of two professional soccer teams, Louisville City Football Club and Racing Louisville Football Club.
Mr. Harding said he initially decided to move to Puerto Rico for the tax benefits, but has stayed for the climate, culture and lifestyle. After owning a condo in San Juan, he said, he bought the property in Dorado, paying $10 million for it in 2020, records show.
The Dorado Beach Resort was originally developed by Laurance Rockefeller, son of John D. Rockefeller Jr., in the 1950s, according to the resort’s website. Owners at the Ritz-Carlton Reserve have access to the hotel’s amenities, which are within walking distance from Mr. Harding’s house, Mr. Rodriguez said.
Built around 2014, the house overlooks a golf course and is located about 50 yards from the ocean. It has about 5,600 square feet of air-conditioned space and extensive outdoor patio space, said Mr. Rodriguez. There are four bedrooms plus staff quarters. Two of the bedrooms are considered primary, and each has a private outdoor patio with a volcanic stone bathtub and shower. The single-story house has 15-foot-high ceilings, a chef’s kitchen and floor-to-ceiling glass walls. Outside there are covered patios, a pool and hot tub, and an outdoor kitchen.
Mr. Harding said he has approved plans to add a second floor and rooftop terrace to the house, but decided not to move forward.
He filled the house with art from his collection, including pieces by Domingo Zapata, Brendan Murphy and others. The furniture is included; the art isn’t.
Mr. Harding said selling the house will be “bittersweet,” but he wants to experience other parts of Puerto Rico, such as Culebra, a small island to the east of Puerto Rico. “I’m in Puerto Rico for the long term,” he said. “It’s the adventure of trying something else out here.”
Mr. Rodriguez said the asking price is justified by massive price appreciation in Puerto Rico in recent years, driven by an influx of buyers drawn by tax incentives and remote work opportunities. In Dorado Beach, the median sales price for the first three quarters of 2022 was $6.22 million, up from $3.4 million a year prior, according to data from Sotheby’s.
In the past three years, several homes in Dorado Beach Resort have sold for north of $37 million, Mr. Rodriguez said. Five years ago, he said, those properties would have traded in the $20 million range. The island’s sales record, $40 million, was set last year, according to the local multiple-listing service. Currently, an estate on the southeastern side of the island is listed for $48 million.
Originally published on Wsj.com