CityPlace South Tower, West Palm Beach
Reduced Prices on Select Condos
May 5, 2011
Back then, I told you about the “surprisingly affordable, ultra-luxurious West Palm Beach condos that had prices starting from $205,900.”
I’ve just received some new pricing information that makes this property even more appealing. If you are primarily interested in rental income, you may find these savings to be especially attractive.
For a limited time, eight of the least expensive, one-bedroom condos at CityPlace South Tower have had their prices reduced. Specifically, four 790 sq. ft., one-bedroom condos have had their prices reduced from $190,000 to $165,900. They each face west and are on the 2nd and 3rd floors, with views towards the Palm Beach Convention Center and CityPlace with its many restaurants and upscale shops.
Additionally, four of the very large, 1,561 sq. ft., one-bedroom/two-bath-plus-den condos, have been reduced from $309,900 to $281,000. There is one of these on each of the 3rd, 4th, 5th and 8th floors. The condos face east with a view of the city from all floors, although the one 8th floor unit also sees the Intracoastal Waterway.
At $281,000, that’s an unheard of $180 per sq. ft, far less than the going rate at a quality property like this one!
To put this in proper perspective, when these units were originally sold in 2006 during pre-construction, average prices were $450 to $500 per sq. ft. At these discounted prices, buyers may purchase these one-bedroom condos at a savings of approximately 56%-62%!
Now, because these condos with the reduced prices are all on lower floors, the views won’t be as impressive as the views from the higher up floors. The good news, however, is that the rental difference between higher and lower floors will not be significant, and certainly not much at all relative to the amount that you are saving.
In fact, if you are interested, there are leased out one-bedroom condos on lower floors for these prices that can be purchased with tenants paying approximately $1.50 per sq. ft. CityPlace South Tower commands some of the highest rents in the area.
I think you’ll find that CityPlace South Tower represents an opportunity to purchase a condo for far less than one would expect for a property with this many services and amenities, not to mention its fantastic location near upscale shopping, fine dining, golf and a variety of entertainment venues. To refresh your memory, here are the features and amenities at CityPlace South Tower:
- Stunning two-story lobby with porte-cochere entrance
- Private conference room
- 9th floor, 35,000 sq. ft. amenities deck with infinity-edge, resort-style heated pool, observation deck, outdoor living room and poolside summer kitchen with expansive views over the Intracoastal Waterway and the Atlantic Ocean
- State-of-the-art fitness center with cardio machines and aerobics, Pilates and yoga area
- His and her steam room and sauna
- Spa treatment room
- Club lounge party room with catering kitchen and billiards
- Video gaming area
- 9,300 sq. ft. of retail space
- Wi-Fi access throughout
So, whether you’d like a luxurious Florida condo to use and enjoy, or if you’re seeking an investment with rental revenue, the special discounts on the select units at CityPlace South Tower are a good reason to consider this beautiful property. Best of all, this property is Fannie Mae approved, so bank financing is readily available for qualified buyers.
I have additional information and plenty of great photos of this property all contained in a detailed data sheet. You’ll just need to provide your name and contact information per developer requirements.
If you’d like to see CityPlace West Palm Beach in person, I’m happy to show you the property. Just call or email me to set that up.
As always, thank you for your interest in the properties we showcase at Condo Hotel Center. Have pleasant afternoon.
Licensed Real Estate Broker
Condo Hotel Center
1368 NW 165th Ave.
Pembroke Pines, FL 33028
Want to know more about me? Click below:
Follow us on Facebook.
© Copyright 2011 Condo Hotel Center
*All rights reserved. No portion of this Property Alert may be reproduced, exhibited or distributed without the express written permission of Condo Hotel Center. Although Condo Hotel Center believes the information contained in this Property Alert to be accurate and complete, Condo Hotel Center can make no such guarantee.