Second Homes 411

For more than 15 years, equity residence clubSM properties have been dubbed “a smarter way to own vacation
real estate”. The Residence Club at Fisherman’s Cove will debut as the first and only residence club of its kind in the Keys. An exclusive waterfront property on the Gulf of Mexico at Mile Marker 104 Bayside, the six-residence Club is an ideal way to own luxurious
vacation real estate in the Keys at a fraction of the price. As Florida’s property tax and insurance costs have slowed down the real estate market,
residence clubs have proven to be an attractive alternative to whole ownership because several owners share those costs.
“We discovered this vacant property that used to be the home of the famous Italian Fisherman Restaurant, and we saw
huge potential,” says Bill Thies, co-developer of The Residence Club at Fisherman’s Cove. “Given the current real estate market,
fractional ownership was the natural choice. Owners are purchasing a luxury lifestyle to pass along to future generations. It’s a vacation
home with use of private club boats and the marina, direct access to some of the world’s best sport fishing and reef diving and an
on-site concierge to book dinner and spa reservations, fishing charters, and arrange for pre-arrival grocery service. Plus you don’t have
the risks and hassles associated with whole ownership, and you’re sharing tax and insurance costs with other club owners.”
Equity residence clubSM properties allow owners to purchase a deeded interest in a luxury home, and pay a price that’s proportionate
with the amount of time they use it.  For example, a comparable 3-bedroom whole ownership condo on the water in Key Largo
currently sells for at least $1.8 million.
At Fisherman’s Cove, residence club owners purchase a spacious, fully furnished 3-bedroom, 3-bath residence for a fraction
of the price – just under $300,000. Use of the club’s Hydrasport center-console boats for fishing and recreation comes with the purchase,
along with convenient access to on-site waterfront dining at The Big Chill restaurant. Members will also enjoy live entertainment on
the deck, a tiki bar, club pool, rooftop terrace, and a state of the art fitness center overlooking the pool and the beautiful gulf.
There’s no worrying about lugging equipment and gear down to the Keys…the club will store personal belongings and have them ready
for owners when they arrive.
For avid fishermen and boaters, a private concierge will be on hand to fuel boats and stock them with fishing bait, drinks, ice,
meals and snacks to make for a perfect, hassle-free excursion on the water. Just ten minutes away by boat, scuba divers will
enjoy world-class reef diving at John Pennekamp State Park. A dedicated on-site management team at Fisherman’s Cove
will ensure that owners receive exceptional service and attention during each stay.