Wednesday, May 23, 2007

BUYING PIECE OF PARADISE By LOIS WEISS - Business News | Financial | Business and Money 

BUYING PIECE OF PARADISE By LOIS WEISS - Business News | Financial | Business and Money

Donald Trump is involved with a project in the Dominican Republic. On average, 1.5 acre lots will go for $6 million.

The $350 million in sales in just four hours - a record for the Caribbean - can be explained by the fact that the parcel is called Trump Farallon. Donald J. Trump was on hand to meet and greet buyers, including an unidentified woman who already owns a condo at Trump Park Avenue.

From the signature bluff, the site stretches as far as the eye can see along the Mona Strait, which separates the country from Puerto Rico. Cap Cana's northernmost edge is next to Oscar de la Renta's Tortuga Bay resort, which will be left in the dust once Cap Cana comes into its own over the next five years.

Already under construction is a marina for 1,000 boats, including the world's largest yachts, as well as multiple condo and villa projects - some under the auspices of the Golden Bear himself, golfer Jack Nicklaus - and a handful of hotels.

The peaceful Sanctuary Hotel should be up and running in September, with suites and bungalows carrying a tab from $500 to $5,000 per night. This Alto Bella-owned hotel will have eight restaurants, including one by Alain Ducasse, hotel President Felix Felipe told us.

The Donald was also there to play golf on one of the three Jack Nicklaus-designed courses at Punta Espada Golf Club, which includes an already infamous 13th hole: an approximately 125-yard stretch over the sea that eats balls for breakfast, lunch and dinner, and which sources tell us ate Trump's ball as well.


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