550 Okeechobee Boulevard, #423, West Palm Beach, FL, 33401 | $999,000

DON'T MISS OUT! This is a RARE opportunity for an EXCEPTIONALLY-VALUED home! This impeccable residence combines scale, style, & an enviable downtown lifestyle showcasing the largest interior floor plan in the building! Designed for modern living & effortless entertaining, this unit covers 1721-SqFt of interior + 342-SqFt of additional wraparound balcony space. This expansive two-bedroom layout PLUS a multi-functional, convertible den space lives like a true single-family home. - Specifically, this apartment comes with TWO separate parking spaces located securely within the building's gated garage - one of which is located just steps down the hallway on the SAME FLOOR, while the other is located just one floor below on the highly sought after 3rd floor, and a nearby elevator takes you right there! The apartment ALSO comes with TWO privately-owned, side-by-side, storage units located just across the hallway on the SAME FLOOR. These are both floor-to-ceiling, walk-in storage cages, each measuring approximately 9' x 8' and 9' x 7', which amounts to a total of approximately 135 SqFt of additional storage room space, all under temperature-controlled air. All of these incredible assets are also immediately sellable, or rentable to other residents in the building for INSTANT INCOME. The apartment itself is meticulously maintained and thoughtfully upgraded, featuring a newer Bosch AC unit, newer porcelain tile flooring in both bedrooms, upgraded designer lighting, all upgraded solid wood designer doors, and custom-built closets throughout. Both bathrooms offer a spa-like retreat that complements the home's bright, contemporary design. Floor-to-ceiling hurricane-impact windows fill the home with natural light, accentuating the open and airy feel. CityPlace South Tower is perhaps the healthiest high-rise condo in Downtown West Palm Beach! Very Healthy Reserves! No Special Assessments & Virtually No 2026 Maintenance Fee Increases! Situated in the heart of booming Downtown West Palm Beach, you're steps from world-class dining, shopping, the Kravis Center for the Performing Arts, the Brightline station, and all the cultural energy the city has to offer. Downtown West Palm Beach is in the midst of a remarkable transformation, quickly becoming one of South Florida's most sought-after destinations for luxury living, investment, and innovation. With billions in new development underway - including Class-A office towers, five-star hotels, acclaimed restaurants like Eataly, Milos, and Harry's of New York, and expanded waterfront spaces - the area is attracting global attention and high-profile residents. West Palm Beach is also rapidly emerging as one of the country's most important financial and academic hubs, highlighted by the planned Vanderbilt University graduate campus downtown and the continued influx of major financial firms establishing headquarters and offices in the area. This unprecedented level of investment is driving the newest evolution of the city and positioning it for strong, long-term growth - making ownership here not only a lifestyle opportunity but a compelling investment as property values continue to rise. There's no question that West Palm Beach has now captured the industry's attention nationwide, and has firmly established itself at the intersection of culture, convenience, and world-class living. CityPlace South Tower offers a full suite of resort-style amenities, including 24-hour concierge, valet parking, a state-of-the-art fitness center, designer club room, summer kitchen pavilion, and a stunning pool and spa deck overlooking the city. Exciting new renovations to the already-exquisite pool deck, clubroom, and conference room are now complete, further elevating this iconic Downtown address! Lobby entrance remodeling is also well underway and scheduled for completion in early 2026, promising an elevated and refreshed arrival experience! Walkable to CityPlace, the Kravis Center, Brightline, Clematis Street, the Norton Museum, waterfront concerts, and Palm Beach's pristine beaches  this is the lifestyle you've been waiting for. And with the ability to rent immediately for a minimum of 30 days up to 12 times per year, this residence is as smart an investment as it is a place to call home. Your best life starts here  where luxury, location, and lifestyle come together seamlessly.

Features

  • Parking: Assigned, Covered, Guest, Garage
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric
  • Levels: 20
  • Amenities: Elevator(s), Fitness Center, Picnic Area, Parking, Pool, Sauna, Spa/Hot Tub, Manager On Site, Trash Chute, Bike Storage, Business Center, Community Room, Internet Included, Library, Sidewalks, Street Lights
  • Rooms: 8
  • Bedrooms: 2
  • Baths: 2 full
  • Laundry: Laundry Closet, Inside
  • Complex: CITYPLACE SOUTH TOWER CONDO
  • Development: Cityplace South Tower Condo
  • Year Built: 2008
  • Common Charge: $1,822 Monthly
  • Approx Sq. Feet: 1,721
  • Est. Taxes: $5,681
  • Lot Desc: Corner Lot, Sidewalks
  • View: City
  • Elem. School: Palm Beach Public
  • High School: Forest Hill
  • Pet Policy: Yes, Breed Restrictions, Number Limit, Size Limit, Pet Restrictions Possible
  • Appliances: Dryer, Disposal, Dishwasher, Electric Range, Free-Standing Freezer, Ice Maker, Microwave, Refrigerator, Washer
  • MLS#: RX-11131518
  • Website: https://www.raveis.com
    /prop/RX-11131518/550okeechobeeboulevard_westpalmbeach_fl?source=qrflyer
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
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Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
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550 Okeechobee Boulevard, #423, West Palm Beach, FL, 33401

$999,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $799,200 $799,200 $799,200
Term 360 months 360 months 180 months
Initial Interest Rate** 5.375% 5.875% 5.625%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.117% 5.972% 5.846%
Monthly Tax Payment $473 $473 $473
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $4,475 $4,728 $6,583
Total Monthly Payment $5,040 $5,293 $7,148

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.  The Total Monthly Payment does not include the estimated HOA/Common Charge payment.