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Thursday, March 12, 2009

Pssst! I've got a Deal for You!




The house at 409 William Street is located on one of the best blocks in Old Town Key West. Some of the oldest and most beautiful houses in Key West are located in the three, four, five, and six hundred blocks of William Street. 409 William Street is known as the Gideon Lowe House. Several years ago it became Whispers Guest House. And then in June 2005 the present owner purchased the property for $2,000,000 and began the renovation process.

That's not a typo dear reader. The owner paid $2,000,000. The property is offered at $1,995,000. The owner put over one million dollars in to the renovation. The math is simple. The seller is going to lose a lot of money no matter what the price is paid for this house. Read on.

The house was built in 1908. The Listing Realtor shows the square footage as 3442 sq ft on three floors. The lot is very large: 44.2 x 100 or 4422 sq ft on a great block. The house has four bedrooms with one master suite on the main level, a second full master suite on the second floor, and two good sized bedrooms with one shared bath on the third floor. The ceilings are tall and the rooms large on each floor level including the third floor. There is a front porch on the first and second floors off the bedrooms so the owner can sit and watch the world go by or watch sunset without leaving the house.

The entry way is tall and impressive and immediately lets you know upon entry that you are in a very special house. The great room and kitchen-dining area are located at the back of the house with French doors that open onto the rear deck, gardens, and pool. This house is not for the buyer who wants a Key West cottage. This is far from that type of abode. Instead, this place is for a family that needs a big house. The rooms don't ramble. They are people and furniture sized.

Quaint it ain't. But charming it is. And pricey for all but a few. 409 William Street is now offered at $1,995,000 or $580 per sq ft. CLICK HERE to view an unedited list of eleven comparably price properties in the Old Town, Casa Marina, and Meadows areas. Compare the size, amenities, and location for yourselves. With a couple of exceptions, 409 William Street is priced lower than the majority of the homes on a price per sq foot basis and it is much larger than all but three.

CLICK HERE for more detailed information and a lot of interior and exterior photos of this dramatic property.

If you are in the market for a genuine Historic Key West property or simply a very fine restoration property, please call me, Gary Thomas, 305.766.2642 to schedule an appointment to see 409 William Street. CLICK HERE to search the Key West Association of Realtors MLS database. Who knows, you might end up owning a great property in Key West at a bargain price. They don't make houses like 409 William anymore. And these bargain prices will not be around forever.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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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.