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79901 Overseas Highway 516, Upper Matecumbe Key Islamorada, FL 33036
$1,450,000
Property Type:
Residential
Bedrooms:
3
Baths:
2
Square Footage:
1,484
Status:
Closed
Current Price:
$1,450,000
List Date:
8/21/2025
Last Modified:
1/15/2026
Description
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!
More Information MLS# 616222
Contract Information
Current Price: $1,450,000
Listing Date: 2025-08-21
Listing Board: Florida Keys
Sold Price: $1,450,000
As is Rght to Inspct: Yes
Species List: No
Location Tax Legal
Street #: 79901
Street Name: Overseas
Street Suffix: Highway
Key/Island: Upper Matecumbe Key Islamorada
State/Province: FL
Zip Code: 33036
County: Monroe
Subdivision: Palms of Isla (80.0)
Area: 23 - Upper Matecumbe
General Property Description
Realtor.COM Type: Residential - Condo/Townhouse
Style: Condo
Waterfront: Yes
Control Depth: 1
Unit/Complex: Unit
Pool: Yes
Year Built: 1976
Total Units: 84
Lot Sqft Source: Tax Records
Living Apx SqFt: 1484
SqFt Source: Tax Records
Total Bedrooms: 3
Full Baths: 2
Total Baths: 2
Floor Number: 5
Rentals Allowed: Yes
Min Rental Days: 28
Status Change Info
Sold Date: 2026-01-15
Sold Price: $1,450,000
Status: Closed
Association Info
Mandatory Home Owners Asc: Yes
1st Right of Refusal: No
Association Fee $: 1124
Assoc/Mnt Fee Per: Monthly
Building Style
Above Flood: Yes
Stories: 5 Stories
Pool Info
Heated: Yes
Pets
Pets w/Restrictions: 1 pet 20 lbs.
Property Features
Fee Includes: Bldg Exterior Mnt; Building Insurance; Cable; Common Area Mnt; Exterminating; Security; Sewer; Water
Tax Exemptions: None
Waterfront: Oceanfront; Open Water
Waterview: Ocean View; Open Water View
Dockage: Boat Ramp; None
Property Condition: Updated/Remodeled
Vehicle Storage: Assigned Parking; Guest Parking; Off Street Parking
Furnished: Furnished
Cooling: Ceiling Fans(s); Central Air
Utilities: Cable Available; Elect Separate Meter; FKAA; Municipal Sewer
Interior Features: Drapes/Blinds Incl; Granite Counter Top; Split Bedroom; Storage; Walk-in Closet(s)
Pre-Wired: Cat 5
Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Stainless Steel Appliance(s); Washer
Exterior Features: Chickee Hut; Gazebo; Hot Tub; Outdoor Shower
Pool Info: In Ground; Concrete; Decked
Construction: CBS; Concrete
Shutters: Accordion
Floor: Tile
Roof: Concrete Roof
Pets: Pets Allowed
Neighborhood Feature: Bike Paths; Clubhouse; Community Pool; Fire Hydrant; Manager on Premises; Spa
Security: Electric Gate
Land Size: 2 Less Than 5 Acres
Terms: Cash; Conventional
Title: Title Ins - Buyer
Listing Office: Coldwell Banker Schmitt Islamorada
Last Updated: January - 15 - 2026
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.
