This chic downtown locale is the cultural and historic center of Naples. It encompasses a five square-mile area that includes an eclectic mix of world-class art galleries, couture boutiques and award-winning restaurants. Ole Naples properties are among the most exclusive in the area, due to their proximity to the beach, marinas, social activities and the area’s historic significance.
Olde Naples Residences
Bringing together the rich experience and extensive expertise of a talented group of visionaries, Olde Naples Residences, Inc., has embarked on a mission: to create sophisticated and stylish residences in Naples’ beautiful downtown district befitting its classic elegance and historic character. The initial project will be the renovation of an iconic building located on 5th Avenue South.
The lastest news on 5th Avenu Naples coming soon!
Properties in the Old Naples market have been selling at a record number. As of February 21, 2014 the following statistics apply:
There are presently 69 condo listings in Old Naples, of which 10 are one-bedroom units! One-bedroom properties were nonexistent in our market a year ago. Why have they made resurgence? Price is the main factor. The lowest-priced two-bedroom unit in Old Naples is listed at $204,000. Therefore, if you are seeking to live in Old Naples for under $ 200,000, you will need to settle for a one bedroom property where prices range from $ 115,000-$199,000. Keep in mind that the average property in this neighborhood regardless of price has not been renovated!
With only 69 condo listings in Naples and 39 sold properties in the last six months where is the baseline for this market?
In a nutshell the answer is, it depends. Given that the ages of the buildings in this community date back to the 1960s and 1970s, the internal living areas are usually generous (1,200 square feet is the norm). The location of many of the buildings is highly desirable given the shopping and dining options in Old Naples along with the access to the beach. The lack of inventory throughout the neighborhood has driven prices northward for the past year. Since January 2014, there have been seven properties that have sold for more than $500,000 with the most expensive property, a 3-bedroom + den option (2,545 square feet) selling for $2,250,000.
Listings Coming Soon