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Large Real Estate Transactions Buoy March

5871-gulf-mexico-drive-longboat-key-estate-homeLarge Real Estate Transactions Buoy March.

In what amounted to the largest single residential sale in Sarasota County in nearly a year, a beachfront estate on Longboat Key closed for $7.125 million. The property at 5871 Gulf of Mexico Drive went under contract in just over four months. Christina Landry, of Michael Saunders & Company brought the buyer to the sale. Reid Murphy was the listing agent for the property. The gated, 1.2 acre Longboat Key estate is 7,046 square feet under air. It was completed in 2008 and includes a private two-bedroom guest house with loft, accessible from the main house by a covered walkway. The main home has five bedrooms, a 40-foot beach-entry pool on the beach level and an upstairs pool on the magnificent logia level.

1111-ritz-carlton-1802-condoIn the most significant sale of its type since August 2008, an 18th floor penthouse above the Ritz-Carlton Hotel, located at 1111 Ritz-Carlton Drive, sold for $3.3 million. Listed in January 2009, the condominium sold for 90% of its original list price and was bound to contract in a mere 16 days. Representing the seller was Linda Driggs of Michael Saunders & Company. The buyer was represented by Teri Sax  of Prudential Palms Realty. With more than 5,000 square feet of living space, the penthouse includes four bedroom suites, dramatic entry foyer, spacious living room and formal dining room; eat-in kitchen and den/library.  Incomparable sunset views over the Gulf of Mexico, along with stylishly-appointed interiors and the finest in amenities and concierge services offered by The Ritz-Carlton Hotel, contributed to the property’s exceedingly short stay on the market.

Photos:
Top – 5871 Gulf of Mexico Drive
Bottom – 1111 Ritz Carlton Drive

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