NASSAU, BAHAMAS — A legal battle has erupted over a high-end real estate project on Paradise Island, as Soho Development Co., LLC, led by real estate attorney and developer Roger Stein, filed suit against Two Roads Development LLC, accusing the Florida-based firm of breaching a confidentiality and non-circumvention agreement to cut Soho out of the $350 million luxury Four Seasons Residences development on Paradise Island.
In court documents filed in New York State Supreme Court this week, Soho alleges that after selecting Two Roads as a co-sponsor for the residential development—now branded The Ocean Club, Four Seasons Residences, Bahamas—Two Roads unlawfully leveraged Soho’s proprietary materials, years of pre-development work, and local government relationships to pursue the project independently, in direct violation of a 2021 agreement. The development, situated next to the famed Ocean Club resort, has already reported over $150 million in pre-sales, with Two Roads potentially earning upwards of $50 million in profit, according to court documents.
Soho contends that Two Roads signed a binding Confidentiality and Non-Disclosure Agreement in July 2021 that explicitly barred it from pursuing the project, or engaging any related parties, without Soho’s written consent. The agreement also required Two Roads to treat as confidential a trove of materials—budget models, renderings, consultant rosters, and market research—provided by Soho. Stein and his firm claim they introduced Two Roads to key stakeholders, including Access Industries, the project’s equity partner and landholder, as well as the architecture and interior design teams.
However, after early joint negotiations, Two Roads allegedly began working directly with Access to finalize a joint venture agreement without Soho’s involvement. Soho argues that Two Roads concealed this pivot, continuing to assure Stein that he remained central to the deal. The complaint details how Soho was gradually sidelined while Two Roads advanced the project and monetized the very introductions and development strategies Soho had originated.
At the heart of the dispute is the project’s coveted location—six acres of beachfront property adjacent to the Ocean Club, a Four Seasons-branded luxury resort. The site was pitched to Soho by Access Industries as early as 2017, with Soho later selected to lead development due to Stein’s two decades of experience navigating Bahamian real estate and government approvals.
Soho is seeking damages for lost profits, development fees, and unreimbursed expenses, along with an injunction against the continued use of its proprietary materials. The company is also asking the court to order a full accounting and disgorgement of profits Two Roads has earned from the project, along with attorneys’ fees and interest.
Back in January Four Seasons, along with the Two Roads Development and Access Real Estate unveiled plans for The Ocean Club, Four Seasons Residences in the Bahamas.
Scheduled to open its doors in 2027, the residential community will comprise 67 turnkey Private Residences managed by Four Seasons, situated near The Ocean Club, A Four Seasons Resort.
