The Anna Maria Island Sun Newspaper

Vol. 11 No. 31 - May 4, 2011

REAL ESTATE

Palm Gables for the luxury buyer

Real Estate

SUN PHOTO/LOUISE BOLGER
The complex at 36th Street in Holmes Beach has high
end features such as granite and stainless steel
in the kitchen, wine coolers and large tiled lanais.

There are plenty of good reasons to walk our beautiful beaches, not the least of which is for exercise, but when I walk the beach, my eyes are automatically drawn to the homes along the shore, undoubtedly an occupational hazard. I may have missed a few birds, dolphins and one or two sunburned tourists but what I never miss is outstanding real estate.

A few weeks ago during one of my beach walks, I looked over the tall sea grass and dunes and discovered a small condo association at 36th Street in Holmes Beach. The sea blue and white Palm Gables building looks like it's rising right out of the sand along one of the deepest and whitest beaches on Anna Maria.

Within the last five or six years several of these "boutique" condos have popped up usually along the beach offering condo living without the condo feel, and Palm Gales is one of the more luxurious of these. Palm Gables was completed in 2006, just when the market was just starting to fall. The seven units originally sold between $750,000 and $1,900,000. There have been two re-sales, one in December of 2009 for $1,700,000 and one in January of 2009 for $1,137,500. The original selling price of these two units was $1,900,000 and $1,400,000, respectively. Currently, there are two furnished units for sale with local brokers listing at $1,394,000 and $1,490,000.

The Gulf front complex has spectacular views and sunsets from the two-level building with six units and one ground level unit. The larger units are three bedrooms and two-and-a-half baths in approximately 2,000 square feet and the two small units are about 500 square feet less. The interiors have high-end features including fireplaces, crown molding, granite and stainless steel in the kitchens, wine coolers and large tiled lanais.

The complex has a pool, elevator, covered parking and security gates. Weekly rentals are permitted with weekly rental rates over $2,000. And, the location couldn't be better with its central Island location, close to Holmes Beach shopping, trolley stop and proximity to restaurants.

Palm Gables is designed with the luxury buyer in mind and will appeal to both second home buyers, who can generate substantial rental income, as well as full-time homeowners. However, as lovely as the units are, the real attraction is having the beach and Gulf of Mexico sunsets in your backyard.

The next time you're walking along the shoreline looking for Island treasurers, don't forget to look at what's happening on the other side of the beach umbrellas. Sometimes taking a walk can be more than just exercise.

Real Estate Transactions
Real Estate Transfers from Jan. 1 to 31, 2011
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

01/21/2011 329,000 310,000 612 North Bay Blvd None SF Res
01/25/2011 1,474,000 1,050,000 103 SeaGrape Ln None SF Res

Bradenton Beach

01/31/2011 179,900 152,500 611 Gulf N Dr # D23 None Condo Res
01/14/2011 299,000 280,000 244 17th St N # 25 None Condo Res

Cortez

01/27/2011 169,000 150,000 4227 126th W St None SF Res
01/24/2011 749,000 722,000 12519 Safe Harbor Dr None SF Res
01/21/2011 736,800 728,800 12310 BayPointe Ter Reo/Bank Own SF Res

Holmes Beach

01/18/2011 244,700 222,000 3402 Sixth Ave # 3 None Condo Res
01/21/2011 275,000 250,000 6400 Flotilla Dr # 11 Short Sale Condo Res
01/28/2011 349,000 310,000 6200 Flotilla Dr # 293 None Condo Res
01/20/2011 334,900 304,000 6313 Gulf Dr None Condo/TH Res
01/12/2011 699,900 500,000 5808 Gulf Dr # 109 N None Condo Res
01/05/2011 475,000 425,000 526 70th St None SF Res
01/21/2011 498,900 475,000 213 70th St None SF Res
01/14/2011 575,000 570,000 206 55th St None SF Res
01/28/2011 619,000 580,000 309 68th St None SF Res
01/14/2011 1,999,000 1,775,000 717 Key Royale Dr None SF Res
01/31/2011 359,000 345,000 307 63rd St None Duplex Inc
01/21/2011 1,000,050 1,000,050 534 70th St Cash Vacant Land

Source: Manatee County Property Appraiser’s Office


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