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701 S Olive Avenue # 506, West Palm Beach FL 33401

Condo/Co-op For Sale
$3,290,000

BTC: 50.83436341

ETH: 1,729.17630240

2 days
3 bds
3 ba
2,186 sqft

Overview

A rare opportunity to create a signature residence in the heart of downtown West Palm Beach in Two City Plaza. Imagine combining two exceptional patio residences into one extraordinary urban villa, offering amazing scale, ceiling height, and indoor-outdoor lifestyle rarely found downtown. Residences 505 and 506 at Two City Plaza present a once-in-a-generation opportunity to acquire two side-by-side, fully renovated homes and create a custom three-bedroom, three-and-a-half-bath residence encompassing 2,186sqft of interior living space, complemented by more than 1,000sqft of private, gated outdoor space. Among only eight coveted patio residences in the entire building, this offering is made even more distinctive by the ability to seamlessly combine the two homes. Maintain multiple private terraces, or envision one expansive, beautifully designed showcase patio: a private outdoor environment unlike virtually anything else in downtown condominium living. Inside, soaring 14-foot ceilings create exceptional volume and flood the interiors with natural light, while the patio-level positioning delivers effortless indoor-outdoor flow. Generous living and entertaining spaces open directly to the terraces, ideal for entertaining, relaxing, or creating a serene retreat in the heart of the city. The conceptual floor plan illustrates the potential to merge the residences into one sophisticated home that lives more like a bespoke private residence than a traditional condominium. The possibilities are exceptional: create one substantial signature residence, maintain two distinct living environments for multigenerational living or guests, or preserve the flexibility to use the residences independently. Both residences have already been tastefully renovated, offering move-in-ready interiors with updated kitchens and baths, modern tilework, walk-in closets, and bright, open living spaces that flow seamlessly to the outdoors. . RESIDENCE 505 | 2 BED / 2 BATH | 1,150 SF A spacious primary suite, second bedroom, open living and dining areas, an updated kitchen, new bedroom flooring, and a large private terrace. . RESIDENCE 506 | 1 BED / 1.5 BATH | 1,032 SF A generous great room, well-proportioned bedroom, beautifully upgraded finishes throughout, and a dual-entry terrace with direct access to its private outdoor space. . INCLUDED WITH THE COMBINED OFFERING Two garage parking spaces (P2-67 and P9-624), one air-conditioned storage room, and one air-conditioned storage cage, adding another level of convenience and value. More than 3,186sqft of combined indoor and private outdoor living offers the freedom to entertain, garden, create a private pet-friendly retreat, or simply enjoy a level of space and privacy rarely available in a luxury high-rise setting. Two City Plaza offers an impressive collection of amenities including concierge and complimentary valet, rooftop pool with towel service and panoramic views, hot tub, sauna and steam room, renovated fitness center, outdoor kitchen and BBQ area with Restoration Hardware furnishings, firepit, table tennis, indoor and outdoor movie theaters, club room, courtyard, rooftop dog park, and exceptional staff. Ideally positioned in the heart of Downtown West Palm Beach, across from One Flagler and moments from acclaimed dining, shopping, cultural attractions, Worth Avenue, Palm Beach, and approximately seven minutes from PBIA.

Location

Details

Type:
Residential
Parking:
2 Or More Spaces / Assigned / Guest / Parking Garage / Valet
Year Built:
2008
Lot:
No Data
Heating:
Central Individual A/C
Price/sqft:
$1,505
Cooling:
Ceiling Fan(s) / Central Individual A/C
HOA:
$2,295

Valuation

Our model vs. what's actually selling nearby.
Estimate
$1,250,000
$498K – $2.7M
Confidence Low
List vs. estimate
$2.0M above estimate
List $3,290,000 · +163.2%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$1,505
+668.7% vs. city median $195
Based on
29 MLS comparables
+ 30 public-records sales within 0.5 mi
Median actual sale: $989K
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$12,407
2025
HOA
$2,295/mo
Pool
Community
View
Garden
Garage
2 car garage
Furnished
Partially
Pets
Allowed
All facts and features
  • Flooring

    • Carpet

    • Tile

    • Wood

    Heating

    • Central Individual A/C

    Cooling

    • Ceiling Fan(s)

    • Central Individual A/C

    Appliances

    • Electric Water Heater

    • Dishwasher

    • Disposal

    • Dryer

    • Ice Maker

    • Microwave

    • Electric Range

    • Refrigerator

    • Washer

    Other interior features

    • Built-in Features

    • Fire Sprinklers

    • Entrance Foyer

    • Pantry

    • Split Bedroom

    • Volume Ceilings

    • Utility Room/Laundry

    Bedrooms and bathrooms

    • Bedrooms: 3

    • Bathrooms: 1

    • Full bathrooms: 3

  • Parking

    • 2 Or More Spaces

    • Assigned

    • Guest

    • Parking Garage

    • Valet

    Property

    • Levels: 1

    • Pool Private: Yes

    • Exterior Features: East Of Us1 / Barbeque / Built-In Grill / Courtyard / Exterior Lights / Other

    Other Property Information

    • Parcel Number: 74434322410000505

    • Zoning: QGD-25 (city)

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Condominium

  • Utility

    • Cable Connected

    • Electricity Connected

    • Sewer Connected

    • Water Connected

    • Cable Available

    • Electricity Available

    • Sewer Available

    • Water Available

  • Other financial information

    • HOA: $2,295

    • HOA Frequency: Monthly

    • Annual tax amount: $12,407

  • Source details

    • MLS ID: B26064410

    Other facts

    • Construction Materials: CBS Construction

    • Laundry Features: Laundry Room / Utility Room/Laundry

    • Lot Features: East Of US 1 / Sidewalk

    • Patio And Porch Features: Patio

    • Pool Features: Community

    • Window Features: Complete Impact Glass / Blinds / Sliding / Verticals

    • Direction Faces: East

    • Other Structures: Livable

    • Architectural Style: One Story

    • Garage Spaces: 2

    • Attached Garage: Yes

    • Garage: Yes

    • Living Area: 2186

    • Water Source: Public

    • Subdivision Name: TWO CITY PLAZA CONDO,Two City Plaza

Private inquiry
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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: Douglas Elliman