Recent property records reveal a series of high-value real estate transactions across Longboat Key and Sarasota, with a single-family home on North Boulevard of the Presidents selling for $2.5 million. The sales, which include both single-family homes and condominiums, reflect continued activity in the area's luxury property market.
The transactions highlight significant appreciation in property values over recent years. For example, a condominium on Gulf of Mexico Drive purchased for $900,000 in 2021 was recently sold for over $1.7 million, nearly doubling in value in approximately three years. This trend is visible across several of the reported sales.
Key Takeaways
- A home on N. Blvd. of the Presidents sold for $2.5 million, a $800,000 increase from its 2020 sale price.
- A Gulf Bay Road property sold for $1.85 million, showing a notable increase from its $1.375 million sale in 2022.
- Multiple condominium units saw significant price appreciation, including one on Benjamin Franklin Drive that sold for over $1.1 million after being purchased for $155,000 in 1989.
- The sales data covers a range of property types, from larger single-family homes to smaller condominium units, indicating broad market activity.
St. Armands Home Tops Recent Sales at $2.5 Million
The most significant transaction in the recent period was the sale of a home located at 121 N. Blvd. of the Presidents. The property was sold by trustees Edward and Mary Rossi to Phase2events LLC for a final price of $2.5 million.
Built in 1998, this residence features three bedrooms and three-and-a-half bathrooms. The home includes a private pool and encompasses 3,491 square feet of living space. Public records show the property was previously sold in 2020 for $1.7 million, indicating an appreciation of $800,000 in four years.
Property Value Appreciation
The sale of the home at 121 N. Blvd. of the Presidents represents a 47% increase in value from its 2020 sale price. This highlights the strong growth in the local luxury housing market.
Longboat Key Properties Show Strong Returns
Several other properties in Longboat Key also changed hands, many demonstrating considerable gains for the sellers. These transactions underscore the area's appeal and the rising values of its real estate.
Gulf Bay Road Home Sells for $1.85 Million
A home at 540 Gulf Bay Road was sold by James Coady, a resident of Paw Paw, Michigan. The buyers were Geoanna Bluebird Bolduc and Michael Bolduc of Longboat Key, who purchased the property for $1.85 million.
The house, constructed in 1993, offers 1,880 square feet of living area. It includes three bedrooms, two bathrooms, and a swimming pool. This property was last sold in 2022 for $1,375,000, marking a price increase of $475,000 in just two years.
Gulf of Mexico Drive Condominium Nearly Doubles in Price
A condominium unit at 2425 Gulf of Mexico Drive also recorded a significant sale. Corey and Sarah Conner of High Springs sold Unit 3-E to Edwin and Patricia Poling of Longboat Key for $1,735,000.
This two-bedroom, two-bathroom condominium was built in 1973 and provides 1,470 square feet of living space. The previous sale occurred in 2021 for $900,000, meaning its value increased by over 92% in about three years.
Condominium Market Remains Active Across Price Points
The recent sales data includes a variety of condominium transactions, from luxury units on Lido Key to more moderately priced properties, showing depth in the local market.
Long-Term Investment Example
One notable sale involved a condominium unit held for 35 years. A property at 101 Benjamin Franklin Drive, purchased for $155,000 in 1989, recently sold for $1,125,000, illustrating the substantial long-term growth of Sarasota's waterfront real estate.
Lido Key and Longboat Key Condominium Sales
A breakdown of other recent condominium sales includes:
- 101 Benjamin Franklin Drive, Unit 71: This Lido Key unit was sold for $1,125,000 to Michael Hassan, trustee. The sellers were Phyllis Sanzaro Gigante, Susan Sanzaro McGovern, and Lori Sanzaro. Built in 1968, the 1,275-square-foot unit has two bedrooms and two bathrooms. Its 1989 sale price was $155,000.
- 4401 Gulf of Mexico Drive, Unit 907: Donna Maddox of Sarasota sold her condominium to Matsails LLC for $1.02 million. The unit, built in 1972, has two bedrooms, two bathrooms, and 1,314 square feet of space. It previously sold in 2005 for $749,000.
- 2045 Gulf of Mexico Drive, Unit M1-302-F: This unit sold for $485,000. The sellers were Eric Larsen, Daniel Larsen, and Kimberly Spies, and the buyers were John and Debra Peters. The 928-square-foot condo was built in 1974 and includes two bedrooms and two baths. It last sold in 2011 for $325,000.
Bradenton Buyer Acquires Spanish Drive South Unit
In a notable transaction, a condominium at 594 Spanish Drive S., Unit 116, was sold for $253,000. The seller, Mark Whitcomb of Melbourne Beach, sold the property to Erik Callagy of Bradenton.
This particular sale stands out because the property was purchased for $386,000 in 2021, indicating a decrease in value. The unit, built in 1969, has two bedrooms, two bathrooms, and a relatively large living area of 1,427 square feet.
