This is a 5-story mixed-use complex (vintage 2002) with floors one and two zoned for commercial and floors three to five comprising 60 original loft models ranging from just under 1000 to 2,630 square feet (UA) with some double combinations. Prospective buyers interested in 101 Lofts condos for sale discover that the HOA fees (70 cents per square foot of condo ownership) are relatively expensive. Why do we say that? Because the complex shuns the amenities standard in many West Palm Beach Downtown (WPBD) competitors. For example, there are no amenities such as swimming pools, fitness centers, a clubhouse, concierge & valet services, green spaces, saunas, or spas. Moreover, WPBD investors put up with restricted rental latitude, allowing only a maximum of two tenants annually (versus monthly in many other towers).
However, nothing above seems to deter people from closing deals at eye-popping prices, so let's look deeper at what 101 Lofts does have:
Some condo owners have upgraded their residences to the hilt. Consider the one on offer for over $3 million in 2023, asking $1,311 per square foot (UA) as an example. First, it takes in the total views described above through high-impact windows, sliders, and standing on an expansive balcony. Secondly, catching one’s eye immediately is the gourmet chef's open kitchen featuring:
Your first thought may be that this is only the asking price. That’s correct, but notably, a similarly renovated loft changed hands in 2022 for $2.6 million - approximately $1,000 per square foot. Also, there’s a 961-square-foot one-bedroom unit in the same building with little improvement on the original developer's interior package asking $581 a square foot (UA).
So, what does this tell us? The building has charisma, no doubt about it, and buying the least elaborate option in the tower makes much sense (considering the perceptions driving deals) for future asset value. Although residences don't come up often on the MLS, it's best to enter these negotiations with a ZFC realtor expert by your side to navigate the ins and outs. We traditionally add hundreds of thousands of dollars to condo value propositions out there because finding diamonds in the rough is our thing.
As intimated above, the condo owners in 101 Lofts in West Palm Beach can get around by foot, bike, and the occasional Uber:
Finding an exact head-on-head competitor is a challenge. Why? Because low-rise, mixed-use residences, disconnected from community amenities but selling for around $1000 a square foot is a head-scratcher if ever there was one. Nonetheless, the same (or similar) price category options we recommend are as follows:
As comprehensive as the above may seem, we cover much more ground than that. Country clubs are a massive sector in all cities providing private golf and resort facilities. Then, we can show you spectacular contemporary resort-style options without the golf but overboard on tennis and pickleball (e.g., Boca Bridges and Royal Palm Polo). On another level, we can take you through estate home enclaves with rolling acres for unsurpassed privacy (e.g., El Cid, Le Lac, and Le Rivage). Finally, boating neighborhoods and ungated natural foliage suburbs are making a gigantic lifestyle comeback. ZFC Real Estate is in the thick of it all. So contact us today, and we'll show you the South Florida cities as you've never seen them before to find your dream home and never look back.
101 Lofts is a condominium building located in West Palm Beach Florida with a range of options priced between $625,000 and $2,795,000. There are currently a total of 3 Condos for sale, the smallest condo currently on the market is a one bedroom one bathroom residence that is 1,296 square feet (1,296SF Under Air) and the largest of the condos currently available is a three bedroom three bathroom, 1,875 square foot (1,805SF Under Air) residence. In addition there are numerous other communities in West Palm Beach to choose from, or you may browse all Condos for sale in West Palm Beach. Condos in 101 Lofts are selling quickly, set up a new listing alert and we will notify you immediately when a new listing hits the market. Of course you can always contact your ZFC Real Estate agent who would be happy to assist you further with your search for a Condo in 101 Lofts West Palm Beach.
Where you live in West Palm Beach determines which public schools your children may attend, and this in turn effects real estate values. Condos in 101 Lofts are zoned for the following Palm Beach County school districts: