Massive Bank Owned Destin Penthouse for Sale

It's not common that a prestigious penthouse comes on the market in Destin that has an amazingly low price due to unexpected foreclosure. This particular penthouse has cleared foreclosure procedures and is bank owned, so there can be a quick sale for those fortunate enough to take advantage of this bargain opportunity. In fact the bank is so motivated to move this property ‘off their books” that they are even offering unusual special bank financing to approved buyers.

It also has “Location” in spades since it crowns the exclusive Grand Harbor and encompasses almost 5,000 square feet. This coveted complex of luxurious residential properties towers above Destin’s bustling harbor on two and one half lushly landscaped grounds.

It has 500 linear feet of water frontage, a large dock for yachts, a harbor front heated swimming pool, a bubbling hot tub, a conference room for private receptions, a parking garage and a fitness center for residents or their guests.

This palatial penthouse (662 Harbor Blvd Unit 950) has castle-like interiors featuring rich interior embellishments with regards to materials, meticulous craftsmanship and detailing. The sprawling 4,800 square foot floor plan covers two levels and includes five bedrooms with five and one half baths.

Travertine marble flooring flows throughout with multiple windows and glass doors that provide access to the observation balconies. The dazzling views both from within and outside overlook the Destin Harbor, Holiday Isle, the glowing emerald hued waters of the glistening gulf, East Pass, Harborwalk Village, the Destin Bridge and the beautiful bay.

The main open living area has a cathedral ceiling that soars above a spacious Great Room that has a formal carved marble fireplace while a wall of glass doors to the balcony provide views of the gulf that extend as far as one can see in the southern horizon. Two interior open railed walkways that connect the upstairs bedrooms look dramatically down upon this room from different ends.

An arched portal of creamy white washed limestone blocks lead to the Gourmet Kitchen that includes rich toned hardwood custom cabinetry, dark charcoal colored granite counter tops, a large gas range, double oven, microwave, dishwasher, a large custom cabinet door side by side refrigerator, an ice refrigerator and a wine cooler. An intricately carved wood columned portal frames the kitchen area and wraps around as a formal entry to a large dining room with torch like wall sconces lighting the entry on both sides.

The dining room has a vintage shaded chandelier and a wall of windows providing westward views for spectacular sunset views. An elaborate decorative wrought iron staircase with a gleaming wood railing leads upstairs to multiple bedrooms which have full luxury baths en suite. An upstairs balcony provides panoramic views of the sensational scenery beyond.

Currently nine residential properties are for sale at Grand Harbor priced from $650,000 for a 2,212 square foot unit to $3,000,000 for a 4,400 square foot unit. This averages to $1,090,888 per property at $395 per square foot. This 4,800 square foot penthouse palace is priced to sell at $1,390,000 at $289 per square foot. Contact our Ocean Reef Real Estate office at (877) 392-6085 today for more details and schedule a tour ASAP since this unique opportunity will receive lots of interest.