On Key Largo, Ocean Reef ClubÂ’s real estate is a sign of better times. By, Scott Kauffman
Ocean Reef Club, a private member-owned resort-style community on Key Largo, Florida, describes itself as offering a Â“unique way of life.Â” Indeed, any place with its own lighted airstrip, 175-slip marina, 144-room oceanfront inn, 36 holes of championship golf, and medical center is a world in itself.
Nestled on 2,500 acres, of waterfront land, Ocean Reef comprises approximately 1,700 estates, private homes, condominiums, and boat slips, with real estate listings ranging from $750,000 to $15 million for homes and lots. The club is a far cry from its 1945 opening, when the community was a modest fishing camp and 26-room lodge. What makes Ocean Reef Club as compelling as ever, though, is the clubÂ’s ongoing success in growing its membership base and real estate sales volume. At a time when many private club communities are struggling to find firm footing, Ocean Reef is not only surviving, but thriving: the club added more than 200 new members through the end of MayÂ—nearly matching the total number of new memberships sold in the two previous fiscal years combinedÂ—and saw nearly $60 million in sales through May.
Of life at Ocean Reef, resident Mary Lee, of Russell Post SothebyÂ’s International Realty, says, Â“We have [lived] in Ocean Reef for over 25 years. We have traveled all over the world and owned many homes. We always consider Ocean Reef the perfect home.Â”
Adds Lee of the clubÂ’s strong showing when it comes to real estate sales, Â“Real estate sales at Ocean Reef follow the trend of Club membership sales because the majority of homes here are sold to existing members. With over 350 new members last year, we had our strongest year.Â High demand for membership keeps property values stable.Â”
In terms of what appeals to new members and owners, Â“Buyers appreciate that the Club is 100 percent debt-free, that it is one of the safest communities in the United States, and that it offers an unsurpassed array of lifestyle amenities,Â” Lee says. oceanreef.com.