The Real Deal Miami

Affiliate of developer takes over marketing for 20-story Mystique condo in Naples

Kohlberg Kravis Roberts and Gulf Bay Group of Companies appointed a Gulf Bay affiliate to succeed Premier Sotheby’s International Realty as the exclusive listing agency
December 02, 2018 01:20PM

Mystique construction site in the Pelican Bay area of Naples

Investment firm Kohlberg Kravis Roberts & Co. L.P. and the Gulf Bay Group of Companies appointed a new brokerage firm to market a 20-story condominium they are building in Naples.

Gulf Bay Marketing Group, a brokerage affiliated with Gulf Bay Group, will handle sales and marketing for Mystique, a 72-unit condominium under construction in the Pelican Bay area of Naples.

Premier Sotheby’s International Realty previously was the exclusive listing agency for Mystique.

Construction of Mystique started in July 2017, and the developers expect to get a certificate of occupancy for the condominium in March.

Crews broke ground for Mystique after pre-construction sales of the condominium’s four penthouses totaled more than $32 million.

The development’s “estate” units range from 4,003 square feet to 5,280 square feet of air-conditioned space, and they are priced from more than $3 million to more than $7 million.

The “Jardin” units at Mystique range from 1,370 square feet to 2,396 square feet of air-conditioned space, and they are priced as high as $2.2 million.

Pelican 1 Owner LLC, the developer of Mystique, is an equal partnership between New York City-based Kohlberg Kravis Roberts and Naples-based Gulf Bay Group of Companies. [Naples Daily News]Mike Seemuth