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Friday, November 16, 2007


"chutzpa" noun
(Yiddish) unbelievable gall; insolence; audacity

The house at 1224 Duval Street was just listed at $5.9 million. I don't know who has more chutzpa the owner or the listing Realtor. I watched the renovation of this house since 2003. It was a long and arduous process. The property appears from the street and the attached photos to be very special. But I cannot fathom how anyone could justify an asking price of $2,657.66 per square foot for a house on Duval. CLICK HERE for the full details.

These are the facts as told by the listing office "Stately home with transient license on world famous Duval Street, just completely restored to its former grandeur. Viva on Duval also includes two homes, 1227 and 1229 Duval Street, one, is a two bedroom two bath with transient license and the 2nd on the corner of United and Duval, is a commercial space, with possible conversion to a home with two bedrooms, two baths and transient license. This grand property is being offered turnkey with all new well appointed furniture/furnishings and the web site for Viva on Duval. Two pools, lots of off street parking, and a separate office with storage complete this is a one of a kind property in Old Town Key West."

There are bunch of photos at VIVA ON DUVAL.

Back on January 16th I wrote about Home Ego-Nomics Key West Style. I think what I wrote back then is right on when you look at the price for this property. I'd love to sell you or anybody else this property. The commission would be great. But there is no rational way to justify this kind of price for a single family home on a busy street that may be used for transient rental purposes. If you have $6 million that you want to spend, give me a call.

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.