The Ocean Reef Islands are the first residential islands built by man in Latin America. The islands are connected by a short bridge to the exclusive neighborhood of Punta Pacifica, and Ocean Reef is the most exclusive address in Panama City. It is the only project in Panama City offering a private marina and yacht club as well as gardens, parks and recreational areas, tennis and multi-purpose court; heliports, underground utilities, and the highest level of security available.
Philip James is currently offering a bank repossessed penthouse on Ocean Reef Island One. This two story, 971 square meter oceanfront penthouse with rooftop pool offers incredible value. The first level is laid out with five bedrooms, each with en-suite bath and four with walk-in closets, two den areas, living and dining areas, a large kitchen, laundry and maid's areas, and an ocean front balcony facing the new marina. The master bedroom also has a direct marina view.
Upstairs is your own private social area with a bathroom, enclosed recreation / entertainment room and the rooftop terrace with private pool, jacuzzi and an incredible 270 degree view of the sea and all of Panama City that is truly spectacular. The view cannot be matched from any other location in the city.
In addition, the apartment comes with with 4 parking spaces and a storage deposit.
As with all ocean front units on Island One, the penthouse is delivered in gray to be finished according to the highest standards of the buyer. The appraised value of the property is 3.23 million dollars. At the current asking price of 2.7 million the property is priced to sell, and the bank is open to offers and providing financing.
Please contact us to schedule your appointment and take advantage of this unique opportunity!