Banyan House Delray Beach

Buyers interested in Banyan House condos for sale have the right to be frustrated. Why? Because they seldom come on to the MLS, and when they do, the pricing is over $1000 per square foot under air. That's a hefty valuation for an 11-story tower built in 1967, notwithstanding it has a direct ocean outlook and private beach. Model sizes range from just over 1000 to a smidgen under 2000 square feet under air (UA) across 65 units. Now here's a big surprise: Banyan House in Delray Beach is an active adult community (AAC) that commands top-dollar prices despite excluding younger than 55-year-old prospects.

The AAC residential category in Delray Beach is massive. In it, you'll find Valencia Falls, Valencia Palms, Four Seasons, Vizcaya, and many others. They all have one thing in common - fantastic amenities and facilities to keep senior citizens engaged to the degree they want it. However, Banyan House is at a completely different level if per-square-foot pricing is relied on as the yardstick. For example:

•  Valencia Palms - a much later vintage GL Homes development - offers a 2750 square foot (UA) SF home (on an inviting campus) for under $750,000
• The smallest Banyan model, just over a third of the Valencia size mentioned above, is going for over $1 million. 

So, the tower's location - a little north of Linton and touching a nature preserve on the east side of the A1A - creates a lot of asset value in itself. Indeed, it's the neighbor of the modern low-rise 1625 Ocean (built in 2022) and steps away from the latter's sister development Ocean Delray (2021), both selling for $6.4 million and up. However, pricing goes further than next-door communities. Consider the following:

• The model designs were ahead of their time, providing window walls and expansive terraces with stunning vistas of the ocean and shoreline from nearly every room.
• The HOA monthly fees of under $1 per square foot of ownership are a bargain versus multiple close competitors at or above the $1 mark. It's probably also a good reason for the robust demand. Also, in this regard:
  • A professional agent from ZFC in your corner will consistently evaluate HOA reserves so that unexpected assessments don't impact you after closing on a home in this or any other tower.
  • That level of support costs you zero. Why? Because sellers pay all realtor commissions.
• The A1A stretch in Delray Beach reflects significantly less density than Highland Beach and Boca further south. Thanks to a state-mandated nature preserve starting on the community's south side, mangroves and flora substitute concrete structures, creating a “back-to-nature” theme.
• Residents have access to a well-equipped fitness center and an ocean-side pool on a broad deck with loungers leading to a secluded beach.
• From a service viewpoint, residents enjoy tight round-the-clock security, a 24-hour doorman, a renovated lobby and lounge area, bike storage, and underground parking.
• All condos contain high-impact hurricane-resistant sliders and windows - a substantial renovation.
• Since the original developer's HOA handover fifty-five years ago, residents have remodeled interiors extensively. Buyers engaging with agents representing Condos For sale in Banyan House are generally amazed to overview:
  • Reconfigured kitchens with custom cabinetry topped with Italian Porcelain or the latest granites, full splashbacks, European appliances from top to bottom in stainless steel, and recessed lighting.
  • Wide-plank engineered wood floors integrated with marble floating vanities.
  • Open-plan designs maximize the 270-degree views.

Although a property manager is onsite, there's no activity director, tennis courts, pickleball, bocce platforms, internal clubs, and the like characteristic of other 55+ communities mentioned above. However, it doesn't seem like the condo owners worry about those gaps. Indeed, they find enough benefit from being closer to the ocean and Intracoastal and the unique lifestyle wide water locations deliver. Its closest competitors are  Sabal Point and Sabal Ridge, located closer to the Boca Club and Resort (the Resort).

$1,050,000

MLS#R10857962
1225 S Ocean Boulevard 503
Delray Beach, FL 33483

1

2

1,273

Ocean Front

77 Days

Reduced

$1,049,000

$1,140,000

MLS#R10851875
1225 S Ocean Boulevard 303
Delray Beach, FL 33483

1

2

1,066

Ocean Front

309 Days