The Palms Condos for Sale in Ft. Lauderdale

The Palms Condo

Yesterday, I visited The Palms Condo again when showing Units to interested Buyers who will be relocating to Ft. Lauderdale from New Jersey after their Retirement. Many Units in The Palms offer beautiful direct Oceanfront views, views of the Coastline, Intracoastal, and City Skyline and I must say that even though I see these views frequently from various Condos here in South Florida, the “wow factor” remains.

The Palms offers full-service Luxury Amenities which include Valet, Tennis Court, 2-Story Fitness Center, Racquet Ball & Squash, Social Room, 24/7 Security, Concierge, Heated Pools, Sauna, and Spa.

A number of the Units have private Elevator Foyer entry directly into the Residence and the rest have semi-private Elevators, which eliminates walking down long Hallways to get to your Unit. I think you don’t fully realize how great private Elevator entry is until you experience it. An additional benefit of private Elevator Foyers is that Owners can customize them to suit their own preferences and it’s amazing how spectacular the design is in some of these Elevator Foyers. The Palms is one of several Ft. Lauderdale Condos that offers private Elevators.

The pictures above are pictures that I shot yesterday while viewing Units. Included in the 2 pictures is 1 of the 2 Pools and the Oceanfront Townhouses. The Palms Condo has 195 Condos and only 7 direct Oceanfront Townhouses. The Townhouses have 4 Stories, ~3,800 Square Feet of Living Area, ~4,743 total Square Feet, private 1-Car Garages, and are very rarely available on the Market. The most recent sale of a Townhouse in the Palms was December 2009, when Townhouse 2 sold for $2,025,000. None of the Townhouses are currently on the market for sale.

Market Activity in The Palms

Of 195 total Units in Towers 1 and 2 at The Palms, only 21 are currently listed for sale, so Inventory is at a normal level and is not excessive. The price range of the Units listed for sale is $425,000 – $2,950,000, with an average list price of $1,311,548. The Units that are for sale have 2 Bedrooms, 3 Bedrooms, 4 Bedrooms, and 5 Bedrooms, with very spacious sizes of 1,600 – 4,738 Square Feet of Living Area.

This year, 9 Units have sold in the Palms. The purchase price range of the Units sold was $500,000 – $1,450,000., with an average purchase price of $972,333. Of the 9 Units sold, 5 were purchased for prices over $1,000,000. Of the Units that were purchased, none were purchased as Short Sales and one was purchased as a Bank Owned Foreclosure. All 9 of the purchases are indicated to have been Cash purchases, as is typical in our current Market where more than 80% of Condo purchases are Cash.

Built in 1999 – 2001, The Palms is one of Ft. Lauderdale’s newest direct Oceanfront Condos since only 4 new Condos on the Beach were built in Ft. Lauderdale within the last 13 years.