Palm Gables for the luxury buyer
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.