The Real Deal Miami

Key Largo’s Ocean Reef Club closes $83M in real estate transactions

March 18, 2013 03:00PM

Ocean Reef Club

Ocean Reef Club, a 2,500-acre private community in Key Largo, closed more than $80 million in real estate transactions in just under three months, the firm announced today.

From December 1 to February 20, 2013, Ocean Reef closed $83.4  million worth of condominiums, single-family homes, lots and boat docks — a record for the company — a statement from the developer today said.

“We are experiencing tremendous growth and activity across all categories and price points,” Paul Astbury, president of Ocean Reef Club, said in the statement. “Ocean Reef offers the best value proposition of South Florida private clubs by far, with unparalleled access to medical, cultural, educational, creative and athletic facilities.”

The 1,700-unit waterfront development features an oceanfront inn,  spa, salon, a 175-slip marina, two 18-hole golf courses, tennis courts and “nature centers.” The club is also equipped with a fully staffed medical center, gourmet grocery store, veterinary care, a pre-K through 8th grade school and a 4,456-foot lighted runway.

The development is located one hour outside Miami International Airport at 35 Ocean Reef Drive. —Christopher Cameron