Historic Casco Viejo Commercial Palace - 32-Unit Development $2.25M
A colonial masterpiece awaiting its renaissance in Panama's most coveted quarter
This magnificent 1,400-square-meter historic commercial building stands as a testament to old-world grandeur in the heart of Casco Viejo, offering the extraordinary opportunity to craft 32 bespoke residences within Panama City's UNESCO World Heritage crown jewel.
About This Property
Spanning an impressive 1,400 square meters across multiple levels, this architectural canvas holds the promise of 32 exquisite apartments, each one positioned to capture the intoxicating blend of Caribbean breezes and metropolitan energy that defines Casco Viejo. The building's bones speak of an era when craftsmanship was art, offering developers the rare foundation upon which to build a boutique hotel or luxury residential collection that honors the past while embracing contemporary sophistication.
The location itself is poetry written in stone and mortar. Here, where the Pacific Ocean kisses ancient seawalls and where every sunset paints the colonial facades in golden hues, you'll find yourself at the epicenter of Panama's cultural renaissance. Michelin-worthy restaurants serve ceviche steps from your door, while rooftop bars offer champagne toasts against backdrops of both historic spires and gleaming modern skylines.
This is Casco Viejo at its most authentic—a neighborhood where diplomats and artists share the same charming plazas, where morning coffee comes with a side of 500-year-old architecture, and where the very air carries the promise of discovery. The building sits perfectly positioned to capture this magic, offering future residents or guests an immersive experience in Panama's most sophisticated quarter.
At $2.25 million, this represents not merely a real estate acquisition, but an entry into an exclusive club of visionaries who recognize Casco Viejo's position as Central America's premier luxury destination. With Panama's continued growth as a global business hub and the district's protected status ensuring perpetual exclusivity, this historic gem offers the perfect marriage of cultural gravitas and investment potential.
Property Highlights
- 1,400 square meters of historic architectural grandeur
- Development potential for 32 luxury residences
- Prime UNESCO World Heritage quarter location
- Multi-level colonial building structure
- Walking distance to Casco Viejo's finest establishments
- Protected historic district ensures exclusivity
- Ideal for boutique hotel conversion
The Neighborhood
Casco Viejo pulses with the sophisticated energy of a neighborhood reborn, where colonial Spanish architecture frames world-class dining and cultural experiences. This UNESCO World Heritage quarter represents Panama City's cultural crown jewel, attracting diplomats, entrepreneurs, and discerning residents to its charming cobblestone streets.
Nearby:
Commute: 15 minutes to financial district, 20 minutes to Tocumen International Airport, 5 minutes to modern Panama City
Location
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Casco Viejo, San Felipe, Ciudad de Panamá, Panamá
Frequently Asked Questions
What makes this $2.25M investment compelling in today's market?
This historic building offers the rare combination of UNESCO World Heritage protection, development rights for 32 units, and location in Panama's most prestigious quarter. Casco Viejo properties have shown consistent appreciation due to limited inventory and growing international recognition.
Can foreign investors purchase this commercial property in Panama?
Absolutely. Panama welcomes foreign real estate investment with the same ownership rights as citizens. Our licensed team handles all legal requirements, ensuring a smooth acquisition process for international buyers.
What is the development potential for this historic building?
The building's 1,400 square meters across multiple levels can accommodate 32 residential units, making it ideal for boutique hotel conversion or luxury apartment development. All renovations must respect UNESCO guidelines, ensuring authentic character preservation.
How does Casco Viejo compare to other Panama City neighborhoods?
Casco Viejo stands alone as Panama's only UNESCO World Heritage residential quarter, offering unmatched cultural authenticity, architectural significance, and social prestige. It's consistently rated as the country's most desirable address for sophisticated living.
What ongoing costs should buyers consider?
Beyond standard property taxes and maintenance, buyers should budget for UNESCO-compliant restoration materials and approved contractors. However, these investments protect and enhance the property's unique heritage value and appreciation potential.
Is financing available for international buyers?
Yes, several Panamanian banks offer financing to qualified international buyers, typically requiring 30-40% down payment. We work with preferred lenders who understand foreign buyer needs and expedite the approval process.
Historic properties of this caliber in UNESCO districts rarely reach the market
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