The Palms Oceanfront Condo
Since my previous Market report, 7 additional Units were purchased in The Palms Oceanfront Condo during the months of August – October of 2012. The Units that were purchased are as follows:
North Tower (2110 N. Ocean Dr.)
- Unit 28A: Purchase price $1,830,000 (4-Bedroom Penthouse with 4,112 Square Feet)
- Unit 16B: Purchase price $940,000 (3-Bedroom Unit with 2,623 Square Feet)
- Unit 21A: Purchase price $890,000 (3-Bedroom Unit with 2,130 Square Feet)
- Unit 4B: Purchase price $850,000 (3-Bedroom Unit with 3,000 Square Feet)
- Unit 8F: Purchase price $638,000 (2-Bedroom Unit with 1,604 Square Feet)
- Unit 5C: Purchase price $410,000 (2-Bedroom Unit with 1,604 Square Feet)
- Unit 11E: Purchase price $1,075,000 (3-Bedroom Unit with 2,623 Square Feet)
Units for Sale
Of 195 total Condo Units in Towers 1 and 2 at The Palms and 7 Townhomes, only 18 are currently on the Market for sale, so Inventory is low/less than the 10% average that we consider to be an average level of Condo Inventory (10% refers to 10% of the total Units in a Condo Complex being listed on the Market for sale). The price range of the Units listed for sale is $430,000 – $5,100,000, with a Median list price of $1,424,500. 16 of the 18 listings are Condos and 2 of the 18 listings are 4-story direct Oceanfront Townhomes.
The Units for sale have 2 – 5 Bedrooms with spacious sizes of 1,600 – 4,738 Square Feet of Living Area. 5 of the Units are luxury Penthouses. Of the 18 listings, none are listed as Short Sales and 2 are listed as Bank Owned Foreclosures.
Monthly Maintenance Fees for the Units currently for sale range from $1,247 per month – $4,105 per month.
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 15 years. With luxury Amenities, a great location, spacious Units, and beautiful views, The Palms Condo remains a very desirable choice for discerning Buyers.
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