A property that has been on the market for about 3 years just closed. The terms of the sale need to be mentioned. The new house at 1117 Royal Street (Corner of Royal and Amelia Streets) sits a block and a half north of St. Mary's Catholic Church. A top rate Key West contractor developed that house and the property next door on Windsor Lane. The house has classic Key West Conch house architecture. The rooms are large and meet the needs of people wanting a house with the classic looks but the functionality of today's world. The finishes were top of the line.
1117 Royal Street was originally listed for sale in 2004 for $1,995,000. It sold yesterday for $1,300,000 or $536 per sq ft. That is a very good price for the buyer. I think the seller is smarting a bit, however. But then a lot of sellers are hurting these days. I think part of the reason for what I consider the low sales price on the house is its location. It isn't in Old Town. It is near Old Town. The houses nearby (except for the house next door developed at the same time by the same contractor) are all inferior. So it looks like location may have had played a role in determining price. CLICK HERE for more info and photos of 1117 Royal.
I liked the house on Royal Street. I didn't like the location. But I'll bet the buyer thinks he or she got a heck of a deal. I would agree on that. This was a great deal. That was the deal that was. If you are looking to buy a house in Old Town, please call me, Gary Thomas, 305-766-2642 or e-mail me at email@example.com. CLICK HERE to search the Key West mls for find a deal worth doing. Let's make history together.