Former Morgan Stanley CEO lists luxury Virgin Islands estate for $29.5 million after $18 million overhaul

Former Morgan Stanley CEO John Mack and his wife, Christy, are parting with their ultra-luxurious beachfront estate in the British Virgin Islands, listing it for $29.5 million after pouring $18 million into a massive renovation.

The couple’s journey with the property began in 2011 when, while on a yacht in the area, the captain suggested they look at a plot of land slated for development into a high-end resort, Bloomberg reported.

Despite a miserable, rainy day, the Macks took the plunge and bought a raw lot in the developing community of Oil Nut Bay on the northeastern tip of Virgin Gorda. What started as a dream, however, quickly turned into a years-long design nightmare.

In 2011, John Mack, the former CEO of Morgan Stanley, and his wife, Christy, were introduced to the idea of ​​developing land in Oil Nut Bay, a 400-hectare low-density enclave in the British Virgin Islands. Media DOES
They bought land but struggled to find an architect and later traded it for a specific beach house. Media DOES
Stephen Mack, Jenna Mack, John Mack Jr, Christy Mack and John Mack attend the 2016 International Rescue Committee Rescue Dinner at the Waldorf Astoria Hotel on November 2, 2016 in New York City. Getty Images

The couple struggled to find an architect and a design they liked. In 2015, they traded their empty lot for a spec beach house, but soon realized it needed a total makeover.

“I can’t do this. We have to take it down,” Christy told the paper, recalling telling her family after spending just a few days in the house. And they made it difficult — they knocked down walls, moved doors and redesigned the whole space.

The result is a 6,000-square-foot oasis with six bedrooms, a pool, a hot tub, and direct beach access.

Dissatisfied with the interior of the house, Christy decided to fix it up and renovate it. Media DOES
Overcoming challenges like a hurricane, the renovation cost $18 million and took years to complete. Media DOES
The house occupies 6000 square meters. Media DOES

“It was nice to have everything at your fingertips,” Christy said of the property’s prime location, which is just steps from the community clubhouse, tennis courts and gym.

Despite the gorgeous setting, the interior was a different story. Christy hated the original design, calling it impractical and a waste of space.

“It wasn’t to my taste,” she told Bloomberg.

To transform the home into something that can host everything from intimate family gatherings to cocktail parties, the Macks gutted everything.

Formal dining room. Media DOES
Theater at home. Media DOES
The theater hall is visible during the day. Media DOES
The swimming pool. Media DOES

They even had to rebuild some of their renovations after a hurricane hit the island in 2017.

Four years later, the couple finally moved in permanently, spending long periods at home during the pandemic.

But now, they are ready to move on.

“Our kids want to do other things and they don’t want to feel forced to go there every winter,” Christy said.

One of six bedrooms. Media DOES
A private bathroom. Media DOES
Another bedroom. Media DOES

As they seek to simplify their lives, the property—complete with custom furnishings and everything from Teflon-coated wallpaper to soundproofed media rooms—is available.

“We’re not trying to lie to anybody,” says Christy. “I think it’s a very fair price.”

Meanwhile, this isn’t the only Oil Nut Bay listing coming up for sale. In July, former New Hampshire Gov. John Lynch listed his island home for $15.9 million.

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Image Source : nypost.com

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