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Friday, February 5, 2010

Open House - Sunday - 1502 Petronia St. - Key West

1502 Petronia Street - The Meadows - Key West
Open Sunday 1:00 pm to 3:00 pm

Originally Priced $1,795,000 Now $975,000

1502 Petronia Street is priced at $975,000 or $568 per sq ft for this 1717 sq ft home. It is owned by a local bank in Key West. Come by and compare what you can get for your money. This property is one of eight completed in 2007. Four units are currently available. This unit is the only two bedroom unit available, and it is a doozy! This home is located on the corner and it has a lot of privacy and great view from the second floor front porch where you can sit and watch the incredible Key West sunsets every night. Only One house sits across the street. That house takes up the entire block. It is priced at $4,795,000. Nice neighborhood! (You will not need to worry about declining property values!)

The home at 1502 Petronia Street is part of The Meadows condo association which is comprised of eight homes. Each home is owned in fee simple and sits on an individually owned lot. The association exists to provide access to rear parking via gated driveway and storm water runoff.

The homes were newly built in 2007 with top of the line materials and craftsmanship. This home features soaring 11' ceilings in the living area and kitchen. The kitchen has top of the line stainless steel appliances, beautiful granite and solid wood cabinets. The kitchen area includes the lower portion of a two story turret. The turret portion of the kitchen is configured as an office or nook area of sorts. There are lots of windows in the kitchen so your cooking will not be a chore but a dream. There is also a wet bar in the living room. The floors on the first floor are travertine marble. The stairway and second floor bedrooms have wood floors. The master bedroom features a second turet. The ceiling is vaulted so that room has an especially large feel, yet the turret makes the space so very special. The master bath is just opulent. I challenge you to find any more luxurious bath in Key West for less than $2 million. You won't find one.

Architectural details including crown molding, high ceilings, porches and solid wood doors. The wood doors on the first and second floor front are massive and of the highest quality. The 8' sliding doors that separate the living area from the pool are hurricane impact resistant to 155 mph that open wide to let the outside become part of the inside. A private, gated drive leads to the carport and a separate entry to the private pool and spa area. Each home is completely fenced and beautifully landscaped. CLICK HERE to see more photos and listing information on 1502 Petronia Street.

This home is located in the Meadows area of Key West. Bayview Park, complete with an old fashioned bandstand and public tennis courts, is located three blocks to the south. The White Street arts district is a five minute walk. The Garrison Bight Marina is located one half block away. Duval Street and the Historic Seaport are each a five minute bike ride. The three large shopping centers (large by Key West standards) are five minutes by car. The Key West International Airport is five to seven minutes depending on traffic.

I think empty nesters or a gay couple would find this home to be just about perfect. Stop by on Sunday to check it out.

CLICK HERE to view a list of of town homes and condos with similar features that were built about the same time. Compare the prices (and the size, amenities, and location) to see why I think 1502 Petronia Street is such a really good buy.


Anonymous said...

Looks like the other corner unit just sold for $750,000. I wonder if that means a price reduction in the future for this location and others in The Meadows. Mid-$700s is a reasonable price point for these homes.

Gary Thomas said...

The house that just sold was foreclosed by another lender. I represented the buyer. The buyer got an incredible deal.


Anonymous said...

An excellent deal! Congrats on representing the buyer. I think this is another sign that if many owners or banks want to move inventory they need to drop their prices by about 20-25 percent. Not all of them, of course, because they're already well priced or just don't really need to sell.


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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.