St. Barths Paradise for the Connoisseur

[highlight_text] Chef Jean-Denis Le Bra’s specialties of fresh seafood and a large selection of organic wine keep this restaurant a favorite amongst locals and visitors alike. [/highlight_text]

Forging a proximate alliance with the Leeward Islands, St. Barth’s aura of subtle sophistication is first noticed by its lack of massive cruise liners, ubiquitous on other islands. An impressive gastronomic selection, world-renowned resorts, and a stream of luxury boutiques compliment its welcoming discretion. A barren version of St. Barths greeted Greta Garbo and Howard Hughes in the 50s; Garbo supposedly mocked her host for buying the useless land. By the 60s the island had gained interest from the Rothschilds and Rockefellers, who purchased strategic plots to prevent major development. By the late 70s, Aristotle Onassis had moored the first megayacht on St. Barths-the 325-foot Christina O.

Today, Gustavia’s Quai Général De Gaulle is no stranger to megayachts. Paul Allen’s 488-foot Octopus, Larry Ellison’s 453-foot Rising Sun, and Ron Perelman’s 188-foot Ultima III-a staple of the harbor during the winter months-are as common here as neon Gallardos are on South Beach. Recently the 282-foot Ecstasea, one of many yachts belonging to Russian oligarch Roman Abramovich, anchored in Gustavia while the 42-year old billionaire checked out local real estate. A work in progress, the 525-foot Eclipse, will soon join Abramovich’s fleet. The $300-million vessel comes equipped with two helicopter pads, three tenders, and a submarine-for a quick getaway. March and December are epic months for many of these sea-trophies. St. Barth’s Bucket and New Year’s Eve Regatta epitomize the island’s healthy economy as an impressive armada competes around its harbor.

Private navigation undoubtedly saves time, but if deciding on a commercial route, a connecting flight awaits you at St. Martin’s Juliana airport. The flight to St. Barth’s miniature airport, which cannot accommodate commercial planes, takes about 10 minutes. The last connecting flight to St. Barths is at 5pm. Miss it and you will be humbled by the ferry experience, which leaves Marigot or Oyster Bay, depending on the day of the week. The choppy voyage takes over an hour and robs you of a bird’s eye-view of Baie de St. Jean-a popular beach on the island. Aside from the visual experience, flying into SBH is simply more convenient than inching into Gustavia while eight seasick passengers push their way to the dock.

Regardless of how you get to the island, where you stay once you’re here is what matters most. St. Barth’s real estate is best compared to a well-heeled socialite. Veiled in muted tones, without a hint of ostentation, her simple gray turtleneck is in fact Hermès. And so an unassuming one-bedroom villa, with little space but plenty of room for imagination, costs about $1 million. Its location doesn’t provide the best views, but for $5 million you can have a three-bedroom with an infinity-edged pool overlooking the ocean. You may feel like you have arrived until you happen to catch a glimpse of the villa down the road, Gitana Bay. In 2005, the 7.4-acre Marigot estate sold for $21.4 million, setting a precedent for the island. The property, which included a four-bedroom villa, three-bedroom guesthouse, and a caretaker’s cottage, was previously home to Baron Benjamin de Rothschild. An industrious fellow, Rothschild kept himself busy by renting out one of the properties as a luxury hotel. The $50,000-per-week rental was promptly booked for every holiday season. Today there are several properties that carry a similar price tag to Gitana Bay, but you must be pre-qualified to even see a photo of the unpublished listings.

If buying another home isn’t on your immediate agenda, there are many less binding options. However, as of January 1, a five percent tax now applies to all rentals-which will more than likely elude a majority of the island’s visitors. But if any rental is worth a few extra dollars, it’s Eden Rock, a landmark hotel unparalleled by its view and location. A vision of Rémy de Hanaen, father of St. Barth’s tourism and its former mayor, the hotel was purchased as a private residence in 1995. Today it is part of the Relais & Châteaux group, which admits only the most luxurious properties, most of them holding historical significance.

Boldly situated on a promontory overlooking the turquoise lagoon of Baie de St. Jean, Eden Rock’s glamorized façade is an exception to St. Barth’s whitewashed refinement. Featuring 33 properties, Eden’s Rock’s latest addition is Villa Nina. The six-star luxe accommodation includes a private art gallery, two swimming pools, and a home-theater. A butler is readily available to ensure that your stay is flawless. Some, however, may already expect perfection when paying $100,000 per week. Don’t worry, that’s only during the holiday season; rates start at $70,000 during the slower months. The hotel also offers fractional ownership through the Eden Rock Owner’s Society, which guarantees four to five weeks per year for a total of 75 years.

One of Eden Rock’s restaurants, On-the-Rocks, blends exemplary cuisine with scenic beauty and an atmosphere of relaxed, tanned diners enjoying complimentary samples sent from French Chef Jean-Claude Dufour. Paying homage to the island’s Caribbean culture, Dufuor’s spicy duck bouillon is the tastiest item on the menu. However, if bouillon is much too dainty, the Kobe beef or seared tuna will surely satisfy any palate. Right next-door to Eden Rock is Nikki Beach, a trendy spot to have lunch and people watch. Casa Nikki, its nighttime counterpart, is located in Gustavia. The latter provides the perfect ending to a lazy day on the beach. If you’re still in the mood to party, the Yacht Club is not far and is considered the club on the island. Do save a night for Le Ti St. Barth on Point Milou. After dinner the tables are used as a dance floor, which is hard to imagine when you first encounter the restaurant’s docile vibe.

Fine dining on St. Barths is not hard to find but many agree that Françoise Plantation on Colombier is the best place for dinner. Chef Jean-Denis Le Bra’s specialties of fresh seafood and a large selection of organic wine keep this restaurant a favorite amongst locals and visitors alike. Françoise Plantation also offers 11 private, no-frills villas with views of Flamands and Point Milou. The hotel’s tree-lined entrance and antiquated stone fence capture the mood of Provence, and for a moment you forget that you are in the Caribbean. Its low-key vibe and sea-salt smell is the antithesis of trendier restaurants like Le Strand or the newly added O’Corner. Both situated on Gustavia’s Rue Fahiberg, they are lively, modern lounges. Le Strand offers a vibe reminiscent of summer in the Hamptons, while O’Corner has a sportier feel. If you’re not a heavy drinker you must make an exception to try the island’s specialty-Vanilla Rum. A shot is all you need to experience why everyone raves about this delicious concoction.

An eventful night brings many to unwind on Saline beach. Just as popular as St. Jean, but unlike the sleepy lagoon, Saline’s ocean current makes its water more turbulent. The beach offers a picturesque descent from its rocky path unto the sand littered with semi-nude sunbathers. Most of the beaches on St. Barths uphold the European standard, but Saline just happens to attract the majority of the tan-line-hating population. It is not uncommon to spot part-time resident Jimmy Buffet sunbathing fully nude, surrounded by a fishing net and casual stares, which are mostly directed at the naked man hiding behind a fishing net rather than Jimmy Buffet the musician. More social once clothed, Buffet has surprised many with impromptu performances at La Bête à Z’ailes, also known as Baz Bar, on Gustavia’s harbor. Le Select, a popular bar nearby, even named its outdoor restaurant “Cheeseburger[s] in Paradise,” after Buffet’s hit song.

A short drive from Saline beach is Hotel St. Barths Isle de France. More secluded than Eden Rock, it’s a favorite amongst celebrities. Recent guests have included Christina Aguilera, Arnold Schwarzenegger, and Sylvester Stallone. The white veneered villas of Isle de France envelop 10 acres on Baie des Flamands and are directly on the beach. The hotel’s Molton Brown Spa features the signature Shiatswe massage, which you can enjoy on the Garden Pavilion. To the delight of its childless patrons, Isle de France provides a sanctuary with its strict “No Children Under 8” rule. Like Eden Rock, the villas of Isle de France are available for purchase through the Folio Collection. The private residence club specializes in part-time ownership of the most sought after properties around the world.

Regardless of whether this is your first visit or if you have been coming here for years, St. Barths is truly unlike any other island in the Caribbean. The familiar image of a cobalt sea and red rooftops is just a glimpse of the island’s charm. It’s a destination that is mildly hard to reach, but once you’re there, anything is possible. Champagne lounges are minutes away from bar counters and haute cuisine is close to several local hangouts like Andy’s Hideaway, Santa Fe, and Do Brazil. The island’s spas and boutiques are also a perk, but why come here to shop for beachwear when you can sunbathe au naturale?

After Peg Walsh purchased a second home in Gustavia on St. Barths, she was unsuccessful in listing it with a local renting service, leading her to launch her own real estate company. After a few years, Walsh brought her son Tom Smyth, armed with entrepreneurial spirit, into the operation. Today, after nearly two decades and an affiliation with Sotheby’s International Realty, St. Barth Properties Inc. is a full-service company that represents the most exclusive properties on the island. Smyth, now the company’s vice president, and Walsh share some of the island’s elusive secrets with Haute Living.

Haute Living In the past two decades, what would you say was the catalyst that caused the real estate on St. Barths to burgeon?

Tom Smyth Over the past 20 years, St. Barths has been a subject of increased media attention and the number of celebrities vacationing here has increased as well-which in turn, ups the media focus-and the mystique. It’s the place to see and be seen and to buy a vacation home.

At the same time, there has been a noticeable gain in wealth. This demographic recognizes the attractive nature of St. Barths real estate both as a vacation home and as a solid investment opportunity.

HL Who is the buyer on St. Barths?

TS Age 35-55. There is a mix of family situations and ages of children. The majority of buyers are purchasing their third, fourth, or fifth home.

HL What is the allure of this little island? Why is it more glamorous to own a small villa here than a larger estate on any other Caribbean island?

Peg Walsh St. Barths is unique to the Caribbean. It’s a beautiful island, but I feel its special ambiance is the main attraction. We describe it as casually elegant and as soon you step foot on the island you recognize it. There are so many things that contribute to St. Barth’s mystique including its fascinating history…It has star power but it is as much its Gallic charm that draws people. Most folks here are quite nonchalant about the rich and famous with whom they bump elbows with in the bistros and boutiques. St. Barths is a French island-very much so-with all that implies: fine cuisine, wines, couture, and sophistication. But it is an understated sophistication.

HL Despite the instability of the American market, most home owners on St. Barths are in fact American-is this a sign of immunity for the demographic of buyers or the convenience of proximity?

TS This is more closely related to the financial immunity the demographic of buyers have. The majority are cash buyers with no need to finance their purchase.

HL Villas La Grande Maison des Étoiles and Au Soleil are two magnificent properties that you are currently renting-aside from the Christmas season, are these luxury properties in high demand?

PW Yes they are. If you have four couples at Au Soleil and divide the U.S. dollar cost by four, the villa becomes quite affordable. Much more so than booking four hotels rooms that are priced in euros.

HL As far as sales, when is demand at its highest?

TS The sales cycle closely follows the seasonal rental, with the majority of transactions occurring between November and May. This is a result of simple mathematics. More people visit the island at this time, fall in love with St. Barths, and look to buy a vacation home here.

HL What are some unique factors common only to the island in terms of building/adding on to a property?

TS The local government takes its strict building codes and permitting very seriously. There are height and size restrictions, including the well-known caveat against anything taller that a palm tree. These calculations vary, based upon where on the island the land is located. Example: To build in areas of St. Jean and Gustavia you are able to utilize more of the land area than you would in the domain of Mont Jean.

HL Now that St. Barths is a Collectivity, do you anticipate any changes to the real estate market, aside from the five percent rental tax?

TS We don’t anticipate any major changes to the market except that this may flush out some European owners that may have decisions to make related to their personal tax situations. The American buyers have no need to change their opinion on investing in St. Barths. In fact, the capital gains tax for American buyers has been reduced under the Collectivity.

HL Is fractional ownership popular on St. Barths?

PW Fractional ownership is the same as a time share. Two hotels, Eden Rock and the Isle de France, offer this program. It is not very popular as these are small hotels and they still have blocks of weeks to sell.

HL What is the rental market like in preference of villas and hotel rooms?

PW Many people book a hotel for their first visit. Once they arrive, they fall in love with St. Barths and return year after year. A certain clientele prefers the hotel atmosphere and in turn and will stay loyal to one property. However the majority prefer to stay in one of our private villas. Our villas are priced in U.S. dollars which is an added plus, especially these days.

HL In 2005, St. Barth Properties co-brokered the sale of Gitana Bay for $21.4 million, which set a precedent for the island. Have any properties exceeded the sale of Gitana Bay?

TS At the moment there are opportunities to purchase property exceeding 25 million. Due to confidentially agreements with the sellers we are not able to publicly disclose the properties. We introduce these opportunities to prequalified buyers upon signature of a confidentially agreement.

HL How long was Gitana Bay on the market?

TS Less then three months.

HL What parts of the island are most people interested buying?

TS There is no clear answer to this. It depends on the client’s preference and taste. Some are looking for a specific area say, for example-close to the beach. They are generally looking to match property size, view, sunset or sunrise exposure, and privacy to their tastes and may end up buying in an area of the island they may not have thought they would originally be interested in.

www.stbarth.com
St. Barth Properties, Inc.
800.421.3396