Back in 2018, the Bahamas island of Little Pipe Cay went on the market for $85 million. Now this luxurious Caribbean retreat is back on the market, with a brand new asking price of $100 million.
Little Pipe Cay is part of the Exumas, an archipelago in the Bahamas of 365 small islands or cays stretching across 130 miles. The private island was owned and developed by the late Michael D. Dingman, an international investor and president of the Shipston Group, which was based out of the Bahamas.
The island is approximately 40 acres. The island has a total of 22 different structures, including its own power and water filtration systems. The main residence comes in at roughly 5,300 square feet with three bedrooms.
Then there is the Refectory, an 8,900 square foot structure geared towards entertaining, with a pub, substantial dining area, and spa. There are also four guest cottages on the island, each with two bedrooms. All are built in a traditional style with brilliant copper roofs.
The island is designed to be as close to self-sustainable as possible. It is accessible by seaplane to Miami, which is only around 270 miles away. The family poured years of development into the property, making it “like a small town” according to one of the listing agents. All told, the island costs around $1.5 million per year to operate.
The market for luxury homes has taken off considerably over the last two years, but especially in regions like South Florida. In Palm Beach, for instance, the price of a luxury home rose by nearly 80% year over year in the third quarter of 2021. Currently, there are around 75 private islands in the Bahamas on the market.