Honey . . . STOP the Car ! - 1430 Albury Street, Key West

HONEY . . . STOP THE CAR!  You've probably heard that saying or something like it sometime in your life. It's a directive that there is something important that you are about to pass by. It's a plea to stop and take a look else you may miss something important. If you do stop you can then decide if the look was worth the time. If you don't you may never know what you missed.

1430 Albury Street in Key West is a Buildable  Lot 3500 sq ft (50' X 70') with HARC Approved Plans to build a New Two Story 1900 Sq Ft 4 BR/3 1/2 BA home with Classic Key West Conch Style Architecture updated with Modern Building Elements including Hardiboard Siding, Wind Impact Resistant Glass Windows and Doors. Other features include Four Decks, Heated Pool, and Off Street Parking in the Quiet Meadows Area of Key West. FEMA Flood Elevation Compliant for future Insurance Savings. The New House will be located just one block north of Bayview Park and within a short walk or bike ride to all the attractions in Old Town.(Price does not include construction of new house.)  

Readers up north in America may not appreciate the significance of having a building lot upon which an owner could immediately commence the construction of a new home in Key West or even the significance of owning an empty lot. Key West is a little island located at the far end of the Florida Keys. It is the end of the line so to speak.  You cannot go any further west or south without a boat. Havana, Cuba is closer to Key West than Miami, Florida.

Most of the island of Key West is developed, meaning there is very little undeveloped ground on this little land mass. And of the few undeveloped parcels that do remain, most are not capable of being developed due to environmental concerns or other restrictions on growth or development. Most of the new housing is actually new properties being built on lots where another house previously existed.  Such is the case for 1430 Albury Street. The current owner went through the process to obtain permission to take down the previously existing home which sat on this lot. The owner then engaged local architect Carlos Rojas to design a nearly 1900 sq ft home with 4 bedrooms, 3 1/2 baths, a main floor "lock-out" unit, pool, and off street parking. The new house would be built to Florida's strict building code and would be constructed using new energy efficient materials including Hardiboard siding, impact windows and doors, while offering a home that evokes the Key West Conch architectural spirit.

 This lot is located in the Meadows Area of Key West. The lot is located one block north of Bayviw Park, the largest city park in Key West. The park is a lovely place to walk the dog or watch the kids play.  The park is the site of many social events throughout the year including the annual Easter egg hunt, children's Halloween event (post Fantasy Fest), seafood festival, Conch festival, and many more. There are public tennis courts, basketball court, and baseball field. 

CLICK HERE to view the Key West mls datasheet on this property that is offered for sale at $750,000.  I understand a new owner would spend between $500,000 to $600,000 to build the home shown in the approved plans. There are a couple of spec homes in the current Key West mls which are offered at a much higher price (combined lot and building).

Please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com for more information on this listing. I am a full time Realtor at Preferred Properties Key West.  

1430 Albury Street, Key West - Dream the Possible Dream

The above photos show the vacant lot at 1430 Albury Street in Key West which is offered for sale with all necessary building plans approved by various City of Key West agencies to construct a new home.  Now in most parts of America that would not seem like a big deal. But in Key West where there are few building lots and especially lots in such a prized location as this, it is a pretty big deal.  That is because the Historic District in Old Town and much of the Meadows Area and the Casa Marina Area fall under the protective HARC (Historic Architectural Review Commission). HARC is charged with the preservation and conservation of the character, integrity and appearance of the historic districts. All changes, alterations, additions, demolitions or relocations to buildings and sites must first obtain a certificate of appropriateness from HARC before any work can be undertaken. That's kinda easy to write but more difficult to obtain in real life. 

As lovely as the old CBS house was, in reality it was not worth saving. The building had spalling in a couple of locations. The owner went through the tedious process of obtaining permission from  HARC to raze the non-historic structure. The owner worked with local architect Carlos Rojas to design a two story 'Conch' Style home with about 1900 sq ft of living space on a 50' X 70' (3500 sq ft) lot. All plans have been HARC Approved and all City Planning  Department requirements met. A new owner can apply for a building permit the day you close. The hard work has been done. The house will have four bedrooms, three and 1/2 baths, four porches, a pool and deck, and off street parking. The house can be constructed with new and efficient building materials including Hardiboard siding which is easier to maintain than traditional wood siding. The home will include new wind impact resistant windows and doors. This means your wind insurance will be a fraction of what you would pay for a house with regular windows. The new house is FEMA flood compliant which will result in lower insurance costs. Your regular home owner's insurance will be less costly because it will be built to the highest building standards in Florida again as compared to old construction. These savings will be significant in the short and long term. If you don't like the approved plans,  you could revise the plans and build a different version of your own dream house. The site approvals and basic structural approvals are in place and should govern any proposed change. A new owner could revise the plans and build a different version of his or her dream house. The approvals are done. The hard part is over.

The new house will be located within easy biking distance to Duval Street and all of the noise and commotion over there. I know a lot of potential buyers think they want to live within two blocks of Duval. Believe me, you'll be much happier not having to hearing folks walking back to their hotels or rental houses at 3:00 AM or listening to Conch Train conductors re-telling stories about old Key West twenty times a day - every day of the week. 1430 Albury Street is located in a much quieter part of the Historic District, just one block from Bayview Park. You can go there to walk your dog, play tennis, marvel at the glorious Royal Poinciana trees, or participate in one of the civic events which occur at the park throughout the year. Of you can go out the back door and sit on the deck and watch the sun rise or walk the dog down lovely Albury Street which is populated with huge flowering and fragrant trees. You will fulfill your dream of living life in Paradise.

1430 Albury Street is offered with approved architectural plans at $750,000. The price does not include the cost of construction of the new home but it does include all architectural plans, surveys, approvals, etc.  CLICK HERE to view the Key West mls datasheet. I can provide more detailed information on the plans to interested buyers. Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Key West.

Key West - Casa Marina Area - Development Parcel

X marks the location of 1426 Reynolds Street in this old time aerial photo post card

1426 Reynolds Street Key West

A week ago I wrote about my buyers who had made very reasonable cash offers on two different Casa Marina area properties whose owners rebuffed the offers like miserly Grinches. My buyers decided to buy a lot and build new instead. And that got me thinking that there may be other buyers out there that know what they want and who may be interested in building their own dream home in Key West.

The photo below shows the newly built pool and gardens at the house my buyers built to defy the Grinches. (The garden is just a couple of weeks old. I kid you not.) There are several building projects under way right now but not as many as I have previously seen. It made me think a new owner might be able to build a new house on the 1426 Reynolds Street lot for a good price in this market.

Key West has a lot of very positive things about it as a place to live: normally incredible weather (not this week), great people (mostly), a harmonious place to live (always). What we don't have is land to grow, to expand. The State of Florida has imposed rate of growth regulations on all of Monroe County and that includes Key West. Those regulations limit the number to actual new housing units. In addition to setting standards for new construction and renovation), our building code regulates the density of all construction (renovation as well as new). And we have a height limitation so you won't see Skyscrapers in Paradise. It ain't ever gonna happen.

We get new construction by re-using old land. Old land in Key West normally includes building rights (retained from a prior usage), sewer and water connections already in place at the site, and electric service. That means an owner who has a set of architect drawn building plans can move rather quickly to getting building approval. If the lot is located in Old Town, the Meadows, or some parts of the Casa Marina area, HARC approval will probably be required as well. Good architects normally get plans approved without a lot of trouble if they follow the rules. Innovative plans can also make it through the process. I never say 'always' and I always say 'never' because good architects and good real estate attorneys have a way of getting things done.

1426 Reynolds Street is located a little over two blocks from the Atlantic Ocean in the Casa Marina area of Key West. This corner lot property happens to be a really big and a very vacant lot. There used to be a house on the lot and that makes the lot 'buildable' since the City of Key West recognizes the right to build a new house at that location. (There were two individual lots with one house on each lot. Both houses were razed.) One building right (ROGO) is offered at the asking price of $1,150,000 for the consolidated larger lot. Or the lots and building rights can be purchased separately.

The listing Realtor describes 1426 Reynolds Street this way:

"A rare find. A large double lot in the highly desirable Casa Marina area, close to the beaches and Old Town. The price includes 1 ROGO and conceptual architectural drawings for a 4 bedroom conch style home. HARC approved. The lot is zoned for 2 homes; 2nd ROGO is available at additional cost."

Photo shows the lot as it fronts on Waddell Avenue across from the Casa Marina Resort

The Casa Marina Resort is located a block further to the south. The block in between has always been a buffer between the hotel and homes in the area. I found an old time photo that shows the that block as it appeared shortly after the Cuban Missile Crisis in November, 1962 when President John F. Kennedy came to Key West to inspect the American military that had been positioned in Key West in preparation of military objectives the US might have pursued. I took the photo just underneath looking in the same general direction a today. The building on the right is now the Fitness Center CLICK TO VIEW for the resort. The remaining area is an enclosed parking lot for hotel guests. The entire block is landscaped and still acts as a buffer between the hotel and private homes.

November 1962

December 2010

The Atlantic Ocean is a little over two blocks directly south of the property. Higg's Beach is located there and there are public tennis courts opposite the beach. Monroe County maintains another beach adjacent to the East. This section of beaches is where the annual July 4th and New Year's Eve fireworks displays occur. Smather's Beach is about a mile east and it is maintained by the State of Florida. Government in action!


The lot at 1426 Reynolds Street itself is very large by Key West standards. The public records show the lot is 100' wide by 115' deep. The public records show the rear "alley" was vacated and now belongs to this building lot which makes the entire lot buildable (subject to building code). The County Property appraiser shows the lot square footage as 11,612.50 which is at variance with the lot measurements the same county appraiser shows. (Go figure.)

The Key West is ripe for buyers capable of making deals happen. In a couple of days lots of potential buyers will start to arrive in Key West looking for bargains. Building a new house is not an alternative that appeals to most potential buyers but for those who are open to the concept, it is an option worth exploring. CLICK HERE to review the 1426 Reynolds Street mls datasheet.

If you are thinking about buying a place in Key West, please consider working with me, Gary Thomas, 305-766-2642 or contact me by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Casa Marina - Short Sale - Do It Your Own Way

We are getting to a difficult point in real estate pricing in Key West. Many of the bargain properties are gone (not all). Many of the properties that remain are either located in bad locations (you decide what that means) or the properties seem over-price (we all know what that means).

I am fortunate enough to have some active buyers that want nice houses priced just under one million. They want a good neighborhood, good neighbors, and a very nice house. You would think for a million bucks that would be easy. It isn't. Not in Key West. That's not to say we can't make it happen, but there are not a lot of properties priced to sell at that magic number.

In the 1980's and 1990's industrious buyers sometimes bought neglected properties and renovated them to get exactly the kind of Key West treasure they wanted. As Key West became more popular and the price of real property increased, the cost of doing renovations became almost cost prohibitive.

There are individual properties in Old Town and Casa Marina that I think a serious buyer should consider as an option to buying a house already completely "done". I have said before on numerous occasions that people with nice houses who do not need to sell do not have their properties on the market. Those houses have not lost any value despite what is going on with their neighbors. They may have even benefited from real property tax adjustments downward. But the intrinsic value of their homes(short term and long term) has not diminished.

1316 Whalton Street is located between Seminary Street and South Street just one block west of White Street. I mention the location because many locals don't even know where Whalton is located. Think of it as Frances Street on the other side of Truman because that is what it is. CLICK HERE to read more info provided by the listing Realtor who describes the property this was: "Development opportunity in the Casa Marina district of Key West! Priced for only $520,000, this sale offers the rare opportunity to purchase 2 legal addresses that can be combined or redeveloped into separate properties. Complete working drawings are available for 2 luxurious 4 BR & 3 BA, 2200 sq. ft. custom homes. As an added bonus, according to public records, the lots are situated high atop an X500 zone presenting a preferred elevation. The existing property consists of a 2 BR & 1 BA cottage, a pool, garage & 1 BR & 1 BA apartment. This sale requires 3rd party approval by seller's lender, & all offers must be accompanied by a buyer's lender prequalification letter for financing or statement of assets for a cash purchase." This property is offered as a short sale at $520,000.

Here are some photos I took of the property. CLICK each photo: Livingroom, rear bedroom,two story rear house viewed from sideyard, pool, pool and two story rear house, neighbor to the south, neighbor to the rear on Grinnell Street. These houses can be demolished and one or two new houses built at this location. The property has been divided into two parcels, but the offering is for both properties as a single short sale purchase.

Just one block to the west is another short sale that is raring to be purchased. It is a development lot at 904 South Street in the Casa Marina area. The listing Realtor describes the property this way: "This is a fantastic build able lot with a Rogo in the heart of the Casa Marnia.HARC Approved plans for 2550 sq ft home including a pool and off street parking are available and will need recertification. This is a potential short sale." This lot is 5187 sq ft according to the information provided by listing Realtor. This short sale is listed at $350,000. It will not last long at this price. Better act quickly. CLICK HERE for more detailed listing information. Here are some additional photos, CLICK lot, lot, adjacent house to the east, and the house across the street.

If you are interested in a project property, please contact me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties in Key West Florida. Our office is an affiliate of Christies Great Estates.

2301 Linda Avenue -- Bank Owned -- Key West

You know the house by the photo to the right. It's that Big "A" Frame house at 2301 Linda Avenue -- just one block east of the Key West High School on Flagler. This 4 bedroom, 3 bath house has 2980 sq ft of living space and sits on a very large, if oddly shaped, lot of 11,930 sq ft. This huge property is BANK OWNED and PRICED TO SELL. The asking price is only $459,900 or $154 per sq ft. CLICK HERE for more info and more photos of 2301 Linda.

Forget about the architecture. Look at the price. This is one of the largest building lots in Key West. My suggestion: buy the property, tear down the existing structure, and redevelop the site. Better yet, buy the adjacent building lot at 2303Linda and redevelop both parcels at the same time. Buyer will need to verify that 2303 Linda either has existing building rights or that Buyer can acquire rights and transfer those rights to the property. 2303 Linda is a 7048 sq ft lot and it is priced at $349,000 or $50 per sq ft. CLICK HERE for more Info on 2303 Linda. The property at 2303 Linda is not bank owned.

The combined square foot on both parcels would be 18,978 square feet. That could make for an impressive development. CLICK HERE to view other building lots currently available for sale in Key West. Compare the price per square foot among other features to determine the best buy for you.

It is very easy to show both properties. Please call Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com.