5 Palms, Boca Raton, built in 2008 with New York inspiration, is a mid-rise tower consisting of only 16 contemporary luxury condos - 2,500 to 2,800 square feet under-air (UA) - on nine floors. The developer's vision fourteen years ago was ahead of the times, converging on:
As a result, it can stand proudly alongside the latest condo editions emerging since 2018. Buyers interested in 5 Palms Condos For sale can choose from two & three-bedroom units and two-level penthouse models. Moreover, many condo owners have updated their units progressively, something would-be owners should focus on.
The community's central location in Boca Downtown is within a three-hundred-yard radius, including the Atlantic Ocean beaches, the Intracoastal, and beautiful rolling fairways. Still, none of these are visible from the lower stories. Water vistas from higher floors are indeed in the mix, but city outlooks predominate. Balconies are a reasonable size but can't be described as expansive. The HOA fees at $0.88 per square foot of condo ownership are, in our view, pretty high compared to others we have observed with similar luxury packages. Thus, we see it as weighing on the marketability of condos in the complex. Although residence prices generally hover over $1,500,000, it corresponds to around $600 per square foot under-air (UA) versus modern competitors achieving $900 and higher.
Therefore, condos for sale in 5 Palms may be fertile ground for buyers with patience looking for a bargain. Why? Because, for a relatively low price, look what the community offers its residents:
When residents step out of the 5 Palms lobby, they take full advantage of multiple restaurants, bars, high-end shopping (in Mizner Park and Royal Palm Plaza), and live entertainment. Like the beach, they are accessible in all directions without getting into a car. Moreover, a short jog takes this community's condo owners to the Boca Resort and Club, a billion-dollar hospitality destination with pickleball, tennis, and exceptional golfing facilities. The latter, owned by Michael Dell's consortium, has an enviable reputation for five-star leisure and relaxation. Finally, an excellent public school district serves the enclave's address (see below), and two International airports are less than half an hour away. The benefits above are top of the list when evaluating luxury city towers with no exceptional views of water or parks.
Arguably, the downtown complex closest to 5 Palms on the crucial metrics (price and HOA) is 200 East - a similar vintage neighborhood (not a boutique building) with huge condo terraces. Also, potential buyers should evaluate Townsend Place (for select units with spectacular golf course views) and Tower 155.
The thing with 5 Palms in Boca Raton is that it's also in competition with many compelling lifestyle options along A1A (i.e., Boca's ocean road) and going a little inland toward central and west Boca. We recommend moving down to the beachfront and traveling north toward Highland Beach to compare 5 Palms to Chalfonte, Aragon, Sea Ranch Club, and Toscana. The latter delivers fantastic beach club experiences, boat docks, and great amenity packages, making them attractive alternatives at relatively affordable prices with lower HOAs than 5 Palms.
Single-family homes (starting at $1.5 million) in highly secure super-luxury resort-style communities are recent additions to the Boca landscape. Spectacular pool settings, multiple tennis courts, kids' water parks, and more are yours to take in Boca Bridges, Seven Bridges, and Lotus. We recommend also looking at Azura, Santa Barbara, and Royal Palm Polo in this category.
For those into boating and deep sea fishing, consider a contemporary new home with a dock in your backyard and no HOA fees. The many canals and direct lots on the Intracoastal in Golden Harbour, The Estates, or Royal Palm Yacht Club are made for this lifestyle. Starting prices are a level up from 5 Palms at $2.5 million for 4500 square feet on a prime canal location.
The ZFC Real Estate team can show you all the ins and outs that matter in 5 Palms and other neighborhoods. Our team specializes in finding and selling houses, condos, or townhouses everywhere in the Boca Raton - Highland Beach - Delray corridor. We leave no stone unturned in taking investors and home seekers to their dream homes with confidence and no stress.
Where you live in Boca Raton determines which public schools your children may attend, and this in turn effects real estate values. Condos for sale in 5 Palms are zoned for the following Palm Beach County school districts: