Adam Carriero and Shawn Bleh successfully closed 510 10th Avenue South in Old Naples (The buyer was procured through an open house). Achieving a sales price of $473 per square foot stands out as a great deal especially when you consider the location only 5 blocks to the beach and a few short blocks to 3rd Street shops. Newer houses in the same location are selling for nearly double that price. The sale of this property shows the strength of the villa/condo market in downtown Naples where sales through this summer have been frequent with 22 closed sales in the past 12 months for newer product (according to MLS). Most of the villas in Old Naples currently active in the MLS are under construction and not slated for completion until mid 2014. There are a few condo/villas on the market that are priced attractively and in great locations for example a penthouse unit on 11th Avenue South and 5th Street in Isla Mar is for sale boasting over 2700 square feet under air (all on one floor) with a south facing lanai. Several opportunities are available either right on 5th Avenue South or the adjacent avenues north and south of 5th that are perfect for the buyer who desires city living. The villa market in Old Naples has always attracted the buyer that wants the luxury of leaving Naples with the piece of mind that they can turn the key and go and upon returning their villa has been maintained for them and looks as beautiful as the day they left.
There are many different types of villa/condos in Old Naples ranging in architectural style, location, size, and amenities. For a boater who wants to live downtown Old Naples Seaport offers the best of both worlds sitting on Naples Bay and within walking distance to the beach and shopping. The Colonnade sits directly in the middle of all the action on 5th Avenue South offering the beach, Cambier Park, and the city living right at your door step. Villas Escalante is an enclave of Villas less than 3 blocks to the beach with a boutique hotel and small restaurant on site. Several units in Lantana on 4th Avenue South are available and offer a resort style atmosphere with several pools on site and lush tropical landscaping throughout the grounds.
Most of the new projects coming in 2014 are detached villas offering larger square footage, over 3 bedrooms, private pools and garages making them feel more like a single-family home yet still offering the luxury of common area maintenance.
If you would like more information on the villa market or you would like consultation on the market in Old Naples please contact Adam Carriero and [email protected]