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Saturday, May 9, 2015

Bank Owned - 107 Front Street #317 - Harbour Place Condominium - Key West Waterfront

Just Listed, but not by me, Units # 317 and #318 at Harbour Place Condominium in Key West. This property is actually two units which were combined to create this quite large top floor residence with direct ocean views of the Key West waterfront.  Even though Key West is a small island, you simply don't get views like this. And rarely do you get this much quality space and construction for the asking price of this Bank Owned property.  The listing Realtor describes this unit this way:
"Enjoy Spectacular Key West Sunsets From Your Own Rare 4 Bedroom 3.5 Bath Condo With Unobstructed Waterview In The Prized Truman Annex. Wood floors and carpet throughout unit. Large kitchen, marbled bathrooms w/ Jacuzzi tub, walk in closets and spacious bedrooms."
This home has 2580 sq ft of living space divided between the principal living areas which face the ocean and the bedroom areas on the rear side. Two large windows and a door with Plantation Shutters provide water views from the kitchen and the living area. The door opens out to the top floor terrace which has great views looking out toward the "outer mole", Sunset Key, and Ft Zach Taylor in the distance. There will never be a day when you won't have something new to see.  I took the photos below on Friday afternoon when the port was empty and the sky was a bit murky. In the not too distant future the City of Key West is going to create a new waterfront park in the open space viewed below. There will be some more trees and tropical foliage but no buildings to impede the view.
Two units were combined to create this top floor unit with 2580 sq ft of living space. The dining area sits in an alcove at the far end of the living area where there is a bar or serving area.
The kitchen opens out to the living room so the chef, be it a man or woman, will always have both a view and can be a part of what is going on in the living area. The combined laundry room and walk-in pantry are quite large. I noted extensive use of copper piping in this area.
Two of the three bedrooms on the city side of this unit have terraces. You will note that all rooms except the have crown molding. The living, dining, and kitchen have wood floors and the bedrooms are carpeted. The baths have marble and tile. All windows and doors have Plantation Shutters. CLICK HERE to view more photos that I took of this bank owned unit.
This unit has a valuable special Truman Annex Transient Rental License which allows for 25 weekly rentals at any time throughout the year.  CLICK HERE to view the Key West mls datasheet on this property which is offered for sale at $1,326,000 or $513 per sq ft. I showed a different unit in this same building a few weeks ago. It had only a city view and was priced at $750 per sq ft.

Please call me, Gary Thomas, 305-766-2642 to set up a private showing or to assist you in writing an offer on this buying opportunity. I am a buyers agent and a full time Realtor at Preferred Properties Key West. This bank owned unit will not last long.  It sold for $2.8 million in 2005.  Somebody is going to snatch this property.


Anonymous said...

Heard this unit went for close to $2M.
Things are getting a little nuts in Key West!!!

Gary Thomas said...

Dear Anon - Where did you get that info? I submitted two offers on it. Both good. One very good! This was an incredible deal for somebody.


Anonymous said...

Hi Gary,

One of my good friends submitted a $1.9M all cash offer and the bank "took another offer".

Special times in Key West when nearly $600,000 ABOVE ask doesn't take the prize.


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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.