The World, the only existing residential
community at sea is now sold-out, James St. John III, President of
ResidenSea Ltd, the management company behind the vessel, has announced.According to St. John, the final few residences aboard the 165-home
vessel were recently purchased, completing the sale of the inventory. The
world’s largest private yacht is now owned by its Residents, free and clear
of any debt.
  “We are delighted to announce this major milestone for the ship and our
Residents,” says St. John. “We created this lifestyle concept and have
always believed in its success. Now, we have attained a goal which many
critics thought was impossible. This is the ultimate confirmation of our
credibility.”
  It is also significant news for the vacation home industry. “While we
remain the first and only private residential community at sea, we know
others may try to emulate The World. With this news, we recognize that our
existence, which was already very compelling, will perhaps be even more so.
It is an exciting time for this unique vacation home lifestyle and we are
proud to have been its architect.”
  While original inventory sales are complete, there will still be two
ways to experience life aboard The World. First, currently owned homes may
become available for re-sale. As is the case with most private vacation
communities, St. John says he expects the vessel may have five to 10
percent of its homes available for resale at any given time. The current
rental program, operated by the management company ResidenSea, will also
continue to offer Guests an opportunity to rent private residences for
minimum six-night stays (rates range from $1,200 to $5,000 per residence,
per night, including most meals, beverages, port charges, gratuities and
taxes).
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