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$1,450,000

  • Sold
  • Closed
  • Condo
  • 3 Beds
  • 2 Full Baths
  • 1,484 Sq. Ft.
  • Updated 2 days ago
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Stunning and Expansive Open Ocean Views and views of Alligator Lighthouse from almost every room! This one-of-a-kind beautifully updated condo at The Palms is an absolute must see for THE MOST spectacular open ocean views in Islamorada! Top floor penthouses are rarely on the market, and this fully updated 3 bedroom/ 2 bathroom was renovated down to the studs with new plumbing, wiring and electric. It was also completely re-imagined to create an elegant split bedroom floor plan that creates a much more private primary suite with spectacular ocean views. The view from this condo is so remarkable that it was even tapped to shoot a scene in the Bloodline TV series that was filmed in the Florida Keys! In addition to constructing an all new open kitchen with open ocean views and high-end appliances, the renovation also added additional cabinet storage and space for an in-unit laundry. The penthouse has impact windows and sliding glass doors plus accordian shutters on the porch to keep your porch furniture safe and out of the weather when you're away. There's also an ocean view community pool, hot tub, men's and women's gyms, kayak storage and launch, a community room and a dedicated parking spot plus additional guest parking. The Palms of Islamorada is also just steps away from the famous Lazy Days and Papa Joe's restaurants and Bud N' Mary's Marina. This one-of-a-kind penthouse will not last... call today!

Full Property Details for 79901 Overseas Hwy #516

General

  • Sold For: $1,450,000
  • HOA FEE: $1,124/month
  • Taxes: $8,784 (2024)
  • Status: Closed
  • Type: Condo
  • Source: 927
  • MLS ID: 616222
  • Added to Site: 149 day(s) ago

Interior

  • Interior Features: Drapes/Blinds Incl, Granite Counter Top, Walk-in Closet(s), Storage, Split Bedroom
  • Appliances: Washer, Stainless Steel Appliance(s), Microwave, Oven, Range, Refrigerator, Dishwasher, Dryer
  • Furnished: Yes
  • Furnishings: Furnished
  • Flooring: Tile

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 3

Additional Information

  • Shared Amenities: Community Pool, Bike Paths, Spa, Fire Hydrant, Manager on Premises, Clubhouse
  • Pool: Yes
  • Pool Description: In Ground, Decked, Concrete
  • Spa: Yes
  • Security/Safety: Electric Gate

Exterior

  • Exterior Features: Chickee Hut, Outdoor Shower, Hot Tub, Gazebo
  • Deck/Patio: Open Porch/Balcony

Parking

  • Parking: Assigned Parking, Off Street Parking, Guest Parking

Location

  • Area: 23 - Upper Matecumbe
  • County: Monroe
  • Subdivision: Palms of Isla (80.0)
  • Driving Directions: Mile marker 79.9 oceanside. Gated community. Call agent for appointment.

Community

  • Assoc. Fees Include: Cable, Security, Common Area Mnt, Building Insurance, Bldg Exterior Mnt, Water, Exterminating, Sewer
  • Pets Allowed: Yes
  • Pet Restrictions: 1 pet 20 lbs.

Heating & Cooling

  • Cooling Type: Central Air, Ceiling Fans(s)
  • Heating Type: Electric

Utilities

  • Water: Ocean View, Open Water View
  • Utility Description: FKAA, Elect Separate Meter, Cable Available, Municipal Sewer

Structural Information

  • Architectural Style: Condo
  • Construction Status: Updated/Remodeled
  • Construction: CBS, Concrete
  • Roof: Concrete Roof
  • Windows/Doors: Other Windows/Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Wiring: Cat 5
  • Disability Access: Yes
  • Entry Floor Number: 5
  • Stories/Levels: 5 Stories
  • Square Feet: 1,484
  • Sq. Ft. Source: Tax Records
  • Year Built: 1976
  • Property Condition: Updated/Remodeled

Unit Information

  • Unit Floor in Bldg.: 5
  • Unit Type: Unit

Lot Features

  • Zoning: MF - Multi-Family Attached

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Front Type: Oceanfront, Open Water
  • Dock Description: Boat Ramp, None

Financial Considerations

  • Association Fee: Yes
  • Association Fee: $1,124
  • Assoc Fee Freq.: Monthly
  • Tax Amount: $8,784
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: UNIT 516 THE PALMS OF ISLAMORADA A CONDOMINIUM (see deed)
  • Flood Zone: VE, AE
  • Rentals Allowed: Yes
  • APN: 00096770-008000

Listed and Sold by Coldwell Banker Schmitt Islamorada, Brett Newman (305) 393-1770

Listing agent

— 79901 Overseas Hwy #516 —

  • Brett Newman

    Coldwell Banker Schmitt Islamorada

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 79901 Overseas Hwy #516

School District:Monroe County School District, Middle Torch Key, FL
NameGradesDistance
Plantation Key School
100 Lake Road, Tavernier, FL 33070
PK-89.6 mi
Key West High School
2100 Flagler Avenue, Key West, FL 33040
9-1274.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 79901 Overseas Hwy #516

Date
Details
Price
Change
Source
1/15/2026
Sold
$1,450,000
-3.33%
MLS
8/21/2025
Listed
$1,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Coldwell Banker Schmitt Islamorada, Brett Newman (305) 393-1770

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79901 Overseas Highway #516, Islamorada, FL 33036 (MLS# 616222) is a Condo property that was sold at $1,450,000 on January 15, 2026. Want to learn more about 79901 Overseas Highway #516? Do you have questions about finding other Condo real estate for sale in Islamorada? You can browse all Islamorada real estate or contact a Coldwell Banker agent to request more information.