Puerta de Palmas - 2 Bed/2 Bath - $349,000

This one caught my eye today.

A 2/2 in Puerta de Palmas just hit the market with a list price of $349,000. It is a Darien model corner unit with 1,072 SF located on the 17 line of the building.

Why did it catch my eye? For one, because of the unit’s location within the building. If you look at the keyplan above, you will see that the unit sits on the northwest corner of the building. Everybody loves a corner unit, right? That’s not the best part. The best part about being in the 17 line is the fact that the main elevator shaft is located directly west of the 13 line (see keyplan above), meaning that the only residents going right upon exiting the elevator are those living in the 16 and 17 lines.

The other thing that caught my eye was the listing price. At $349,000 ($325.56/sf), this unit is being marketed for sale at a lower price than what the original owner paid for the unit - and the owner of this unit got the best deal in the entire line. The broker remarks on the MLS listing explicitly state that it is NOT a short sale.

Take a look at the closed sales for all units on the 17 line. Keep in mind that the following are all developer sales:

• 917 - $355,000
• 1017 - $367,000
• 1117 - $390,800
• 1217 - $409,000
• 1417 - $477,000
• 1517 - $452,000
• 1617 - $457,000
• PH17 - $492,000

For more information regarding Puerta de Palmas, click here.

I, unfortunately, was not able to get access to the unit when I was in the building this afternoon showing a customer around. However, I plan to come back to it soon. As soon as I have interior pictures I will be sure to post.

For the time being, take a look at the following slide show (FYI, the floor plan shown in the slide show is a Formosa, not a Darien):

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