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Downtown West Palm Beach, Florida
Two 32-story towers with 221 residences on the Intracoastal Waterway in downtown West Palm Beach, built in the mid-1980s. Every unit runs east to west through the full depth of the building.
Market Intelligence
Closed sales in the selected window, grouped by price tier.
The Plaza of The Palm Beaches closed sales by price tier, trailing twelve months, data through August 27, 2026. Source: Beaches MLS. · Updated September 20, 2026
Closed sales, Beaches MLS. Select any tier to view its recent sales. Tiers with fewer than three sales list each sale but show no median.
The Building
The Plaza of The Palm Beaches is a two-tower, 32-story community in downtown West Palm Beach, completed in 1986. Two things define it. The first is its downtown position, within walking distance of Clematis Street and the Brightline station. The second is its floor-through layouts, which give every residence both water and city views at a lower price per square foot than the newer Flagler towers.
| Address | 525 & 529 South Flagler Drive West Palm Beach, FL 33401 |
|---|---|
| Year Built | 1986 |
| Buildings | 2 Towers |
| Floors | 32 Stories |
| Total Residences | 221 |
| Size Range | 1,927 to 8,000 SF |
| Bedrooms | 2 to 5 |
| Views | Intracoastal, Ocean & City Skyline |
| Pet Policy | 1 pet, under 20 lbs (owners only) |
| Rental Policy | Min. 3-month lease, 1x per year |
The residences are offered across the following layouts.
Interiors and systems are finished to a consistent standard.
Side by side
Market data is pulled live from the MLS on a trailing twelve-month basis, across all property types. Building details below are reference.
View All Luxury Condos →Building Intelligence
Line-by-line sales activity, floor plan analysis, and building-specific commentary on The Plaza of The Palm Beaches - the granular detail that separates a good purchase from a great one in this tower.
The entry point to the South Flagler corridor: 79 closings since 2021 at a median $880 per square foot, a 2022 run-up that nearly doubled the building's prices in a year, and a two-year decline the corridor's newest towers have...
Read More : The Other Tower on Flagler: The Plaza of the Palm Beaches, MeasuredCommon Questions
The Plaza trades at a lower price per square foot than the newer buildings on the Flagler corridor. That gap holds against The Bristol and La Clara. One Watermark Place, though older (2003), sells at higher absolute prices because its units are larger. The Plaza’s range runs from upper-floor two-bedroom units to combined full-floor residences.
The market data above reads live from the MLS. Three variables drive the spread within the building: floor level, renovation condition and whether the unit has been combined with an adjacent residence. Higher floors carry a premium for open sight lines. A renovated unit can sell at a premium over an original-condition unit on the same floor.
Monthly fees vary with unit size. That covers common area maintenance, elevator service, building insurance, exterior maintenance, management, parking, pest control, pool and spa service, roof maintenance, 24-hour security, sewer, trash, and water. The number to watch is the insurance component: Florida condo master policy premiums have increased materially since 2022, and in a 32-story coastal building, insurance is typically the single largest line item in the HOA budget.
Request the association’s current budget, the year-over-year change in the insurance line, and any pending or recently passed special assessments. Total carrying cost (HOA plus property tax plus individual HO-6 policy) is the figure that matters for comparison to the newer towers, where HOA fees are often higher but the buildings are newer and assessment risk is lower.
Yes. Every residence runs the full depth of the building from east to west. Living areas face the Intracoastal Waterway and Palm Beach Island. Bedrooms or secondary living areas face the downtown skyline, and configurations vary by line. Balconies extend off rooms on both sides. On higher floors, the eastern views extend past Palm Beach Island to the Atlantic.
One lease per calendar year, three-month minimum. Pets are limited to one per unit, maximum 20 pounds, owners only. Renters may not have pets. The 20-pound limit is stricter than most competing buildings on the corridor and eliminates a segment of potential buyers and renters.
For buyers planning to hold the unit as a part-time residence and lease it seasonally, the one-lease-per-year restriction is workable for a winter season rental but precludes multiple short-term tenancies.
Several owners have combined two adjacent units on the same floor into single residences of up to about 8,000 SF. These combinations required association approval and structural engineering review. The result is a full-floor home with private elevator access and both exposures. Its scale is comparable to the largest units in The Bristol or One Watermark Place. Combined units trade infrequently. When they do appear, they tend to attract buyers who want a large residence on the Flagler waterfront at a lower price than the newer buildings.
The Plaza includes a small number of two-level townhome residences on the lower floors, approximately floors three through five. These units start at roughly 2,560 SF, feature a different layout from the tower residences, and include large Intracoastal-facing terraces that are substantially bigger than the standard tower balconies.
The trade-off is floor level: lower floors have less expansive long-range views and sit closer to the pool deck and common areas. Townhomes trade rarely and tend to attract buyers who prioritize outdoor space and a non-high-rise feel over elevation and panoramic sight lines.
Each occupies a different position. The Bristol (2019) and La Clara (2022) are newer construction at a higher price per square foot, with contemporary finishes, lower unit counts and modern building systems. One Watermark Place (2003) has larger units with private elevator entry, at higher price points. The Plaza (1986, 221 residences) offers more space per dollar than the newer towers, floor-through layouts with both exposures, and a tennis court. The trade-offs are building age, original finishes in un-renovated units, a higher chance of special assessments for major systems, and a larger resident population.
Condition ranges from original 1986 layouts and finishes to full renovations with porcelain or hardwood flooring, custom cabinetry, quartz surfaces and Miele or comparable appliances. That spread creates a price gap on the same floor. A renovated unit can sell at a premium over an unrenovated neighbor, depending on the scope and quality of the work. The cost of a full renovation depends on scope, selections and structural work, and buyers should price it before making an offer.
The association governs renovation scope, work hours, contractor insurance requirements, and common-area protection during construction. Standard renovations (kitchen, bathrooms, flooring, cabinetry) generally require association review and approval but follow an established process. Structural work, including unit combinations and any modification that involves load-bearing walls, plumbing risers, or electrical panels, requires engineering review and more extensive board approval.
Work hours are typically restricted to weekdays during business hours. Buyers planning a renovation should request the association’s current renovation guidelines and timeline expectations before closing, as the approval process and any seasonal restrictions can affect the project schedule by several months.
Florida’s SB 4-D was passed after the Surfside collapse. It requires condominium buildings over 30 years old and three or more stories to complete milestone structural inspections and fund reserves for structural components. The Plaza, built in 1986 and 32 stories tall, falls within this mandate. The association must hold reserves for the structural components the law specifies, from roof and waterproofing to electrical and plumbing. It may no longer waive that funding. Before making an offer, request three documents. They are the most recent reserve study, a five-year history of special assessments, and the status of the milestone inspection and any remediation items.
The association carries a master policy covering the building’s structure, common areas, and exterior envelope. Individual owners carry an HO-6 policy for interior finishes, personal property, contents, and personal liability. The master policy is the critical variable: since 2022, Florida coastal condo master policy premiums have increased significantly, and in a 32-story waterfront building, insurance is typically the largest single expense in the HOA budget.
A large increase at the master policy level translates directly into higher monthly fees for every owner. Ask for the current master policy premium, the deductible (which determines your exposure in a claim event), and the year-over-year premium trajectory. These numbers affect your carrying cost as directly as the purchase price.
Each residence includes assigned covered parking, and the building provides full valet service. Guest parking is available on a limited basis. Building access is through a 24-hour guard-gated entrance, with an attended front lobby and doorman. Semi-private elevators serve two units per floor, so hallway and elevator traffic is limited to one neighboring residence.
Move-in and move-out scheduling is coordinated through building management and subject to association rules on timing, elevator reservation, and common-area protection. Buyers with multiple vehicles should confirm the number of assigned spaces for their specific unit, as this varies by unit type.
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