The real estate developer behind a $50 million Beach Resort project in Nassau County, Bahamas, has said that his firm has begun a new process to sell the property.
The developer, Richard C. Riddick, said on Friday that he had begun a “reconsideration of the Beach Resort” to determine whether to move forward with a second sale.
The second sale is still expected to be finalized by the end of this month.
According to Riddack, the first sale would occur on the second floor of the property on the south end of the Bahamas National Seashore.
According to a statement from the Bahamas Office of Tourism, the property is located in the southern part of the island, and the southern half of the landmass of Nassau is also part of that area.
“The property is in the very southern part, and it’s very small and it has a very small footprint,” Riddock said in the statement.
“The property, if it does sell, is going to be very small in size, but it will be very nice to have the opportunity to live there.”
Riddick said that, as of Friday, he has not yet had an offer for the property and has not even received an invitation for the sale to begin.
The Bahamas Office for Tourism said that it has not received any offers for the project and had no immediate comment.
The Beach Resort is the second new resort planned for Nassau after a luxury hotel, which opened in the same location last year, was purchased by a different developer.
R.J. Rittenhouse was behind that project.