July 3, 2013

Banyan Tree Plaza = Value in Honolulu

I recently listed a Banyan Tree Plaza unit here in Honolulu. It's a building as old as I am, built in 1974 (oops - I gave away my age). There's a great mix of units in the building with 1,2,3 and 4 bedroom units. The 3 and 4 bedrooms are a little more rare however. 

Banyan Tree Plaza Seen from Punahou St.

Banyan Tree Plaza seen from Punahou Street

The one we have available is a 3 bed, 2.5 bath, 1420 sq. ft. unit, which is larger than a lot of single family homes in Honolulu.  It's also on the 29th floor I might add, which provides for some incredible views.

Banyan Tree Plaza 3 Bedroom Unit Entry

Welcome home to your 2 story home in Honolulu with awesome views

This building was considering an icon for luxury in its day. Considering most of today's luxury buildings are sellling north of $1,000/sq. ft. I feel Banyan Tree Plaza is a great value play for someone looking to find something in the heart of Honolulu. Listed at $680,000 we are priced at $478/sq. ft. The most recent 2 bedroom, 2 bathroom sale in the building sold for $503/sq. ft.

If you're loooking for a great value in Honolulu, this is the place. Another product in comparison shopping in the area could be a single family home in Manoa, where prices start higher and rapidly climb from there. Although this unit is well kept, it could use some updates. That's where the value comes in. Once you fix this up, the maintenance of a condo this size will be quite different than a single family home. With the master bedroom and bath on the main floor, you can just come home relax on your lanai and enjoy the views...

View from Banyan Tree Plaza 2907 Lanai

Lanai View of #2907 (MLS # 201326925) which you can access from either the living room or master bedroom

As I said earlier, these 3 bedroom units are rare and won't be around forever...

Posted in Downtown Honolulu
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