79901 Overseas Highway 516, Upper Matecumbe Key Islamorada, FL 33036

$1,500,000
Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 1,484 Status: Pending
Current Price: $1,500,000 List Date: 8/21/2025 Last Modified: 11/25/2025

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

Listing Board: Florida Keys As is Rght to Inspct: Yes Species List: No Current Price: $1,500,000 Listing Date: 2025-08-21 List Price: $1,500,000

Location, Tax & Legal

Unit #: 516 City: ISLAMORADA Off Shore Island: No Mile Marker: 80 Marathon Neighborhood: N/A Side: Ocean Flood Zone: VE,AE Alternate Key #: 1113221 Handicap Access: Yes Parcel #: 00096770-008000 Zoning: MF - Multi-Family Attached Deed Restrictions: Unknown Legal: UNIT 516 THE PALMS OF ISLAMORADA A CONDOMINIUM (see deed) Taxes: 8784.04 Tax Year: 2024 Pub Sewer HkUp: Yes 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 Waterfront: Yes Control Depth: 1 Lot SqFt: 0 Unit/Complex: Unit Pool: Yes Lot Sqft Source: Tax Records Total Units: 84 SqFt Source: Tax Records Rentals Allowed: Yes Min Rental Days: 28 Floor Number: 5 Style: Condo Year Built: 1976 Living Apx SqFt: 1484 Total Bedrooms: 3 Full Baths: 2 Total Baths: 2

Remarks & Misc

Remarks – Consumer: 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! Directions: Mile marker 79.9 oceanside. Gated community. Call agent for appointment.

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No Association Fee $: 1124 Assoc/Mnt Fee Per: Monthly

Fee Includes

Bldg Exterior Mnt: 1 Building Insurance: 1 Cable: 1 Common Area Mnt: 1 Exterminating: 1 Security: 1 Sewer: 1 Water: 1

Dockage

Boat Ramp: 1 None: 1

Tax Exemptions

None: 1

Appliances

Dishwasher: 1 Dryer: 1 Microwave: 1 Oven: 1 Range: 1 Refrigerator: 1 Stainless Steel Appliance(s): 1 Washer: 1

Pets

Pets Allowed: 1 Pets w/Restrictions: 1 pet 20 lbs.

Cooling

Ceiling Fans(s): 1 Central Air: 1

Heating

Electric: 1

Waterfront

Oceanfront: 1 Open Water: 1

Waterview

Ocean View: 1 Open Water View: 1

Floor

Tile: 1

Neighborhood Feature

Bike Paths: 1 Clubhouse: 1 Community Pool: 1 Fire Hydrant: 1 Manager on Premises: 1 Spa: 1

Interior Features

Drapes/Blinds Incl: 1 Granite Counter Top: 1 Split Bedroom: 1 Storage: 1 Walk-in Closet(s): 1

Property Condition

Updated/Remodeled: 1

Building Style

Above Flood: Yes Stories: 5 Stories

Windows/Doors

Impact Rstnce Doors: 1 Impact Rstnce Window: 1 Other Windows/Doors: 1

Vehicle Storage

Guest Parking: 1 Assigned Parking: 1 Off Street Parking: 1

Security

Electric Gate: 1

Construction

CBS: 1 Concrete: 1

Land Size

2 Less Than 5 Acres: 1

Furnished

Furnished: 1

Terms

Cash: 1 Conventional: 1

Utilities

Cable Available: 1 Elect Separate Meter: 1 FKAA: 1 Municipal Sewer: 1

Porch/Balcony

Open Porch/Balcony: 1

Title

Title Ins - Buyer: 1

Exterior Features

Chickee Hut: 1 Gazebo: 1 Hot Tub: 1 Outdoor Shower: 1

Pool Info

In Ground: 1 Heated: Yes Concrete: 1 Decked: 1

Pre-Wired

Cat 5: 1

Roof

Concrete Roof: 1

Shutters

Accordion: 1

Status Change Info

Contingent: Contingent Status: Pending

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: November - 25 - 2025
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