About 5 Palms
Cushman & Wakefield is pleased to present 5 Palms, a AAA boutique condominium in the heart of Boca Raton. There are 8 out of 16 luxury condominiums available for purchase. The 8 units are all 3bd/3ba averaging 2,525 square feet. The building totals 9 stories, with two units per floor. Each unit has direct elevator access. The 8 units are currently 100% rented. The 8 units have actual rents totaling $46,955 per month - $563,460 per year. A unit sold in September 2018 within the building for $815,000 - $323 PSF. Previous sales have been up to $1,075,000 - $426 PSF. This is a rare opportunity to acquire the majority of the units within an ultra-luxury condominium development below retail sales within the market.
Centrally located in the heart of Boca Raton, 5 Palms offers 24-hour doorman/concierge service, two parking spaces per unit, stainless steel swimming pool, private access elevators, terraces, lush landscaping and Zen-influenced water, closed circuit security system with surveillance and keyless entry, chef inspired, European style kitchens with a wet island and loaded with sleek stainless steel appliances including a 24 bottle wine chiller and beautiful marble bathrooms featuring Hansgrohe and Toto Fixtures.
5 Palms is located on Palmetto Park Road in the heart of East Boca Raton. The property is a walker’s paradise. Residents are a short stroll from the beaches, as well as an abundant amount of high-end restaurants and shops located along Palmetto Park Road and in Mizner Park, a high-end Spanish-styled mixed use center that offers boutiques, retail shops, dining, music, events, museums, and movies.