Longboat Key - Real Estate

If the improving real-estate market on Longboat Key and Sarasota’s offshore keys the last five weeks in 2009 and the first five weeks in 2010 is any indication, the future may bode well for our “living industry.”

There were 110 transactions involving $94,985,070 in those 10 weeks. Sixty-two were transacted between Nov. 30, 2009, and the end the year for more than $50.2 million, and 48 were transacted during the first five weeks of 2010 for more than $44.7 million.

The largest sale was the $8.4 million new home sale on New Pass the last week in January to boost the week’s sales to more than $20 million. This compares to the best week of $18 million posted from Nov. 30, 2009, through Dec. 4, 2009.

Orchid Beach
There were 15 sales the first week in February totaling almost $11 million. Leading the way was the $2,475,000 that Pilar and David Goldstein paid for Unit C-801 at the 11-story, 54-unit Orchid Beach Club Residences, 2050 Ben Franklin Drive, on Lido Beach. The seller was Jim Syprett, of Sarasota. Syprett purchased the condominium new for $2.75 million in April 2007.

Built in 2005, the three-bedroom, three-and-a-half-bath residence has 4,229 square feet of air-conditioned living area.

Water Club II
Margaret Watanabe, of Indianapolis, sold her Unit 1007 in the 11-story, 86-unit Water Club II tower, 1281 Gulf of Mexico Drive, to Jeannine and Daniel Mullan, from Buffalo, N.Y., for $2,062,500. The three-bedroom, four-and-a-half-bath condo has 3,273 square feet of living area.

Watanabe bought the unit new for $1,556,000 in October 1999.

Grand Bay
Rebecca and Michael Shea, of Southport, Conn., purchased Unit 426 at Grand Bay IV from Amy Nadel, of Ridgewood, N.J., and Joshua Nadel, of Philadelphia, as successor trustees of the late Marvin Nadel’s revocable trust agreement, for $1.1 million.

The three-bedroom, three-and-a-half-bath condo at 3010 Grand Bay Blvd. was constructed in 1999 with 2,781 square feet of living area. The Nadels acquired the condominium for $872,500 in April 2000.

Bay Isles
James Strasser, of Cincinnati, sold his Bay Isles home in Unit 7 at 3391 Bayou Lane, both as an individual and trustee of the Albert Strasser Trust, to Susan and Michael Master, of Gulph Mills, Pa., for $940,000.

The four-bedroom, three-bath residence was constructed in 1999 with a swimming pool and 3,331 square feet of living space.

In Bay Isles Unit 2, Scott Tonnesen and his wife, Karen, of Chester, N.J., each bought a 50% interest in the home at 3131 Bayou Sound from Fred Niedrich, of Sarasota, for $605,000. Niedrich acquired the property for $960,000 in June 2004 at the height of the real-estate boom.

The three-bedroom, two-and-a-half-bath home was constructed in 1978 with a swimming pool and 3,023 square feet of living space.

Weston Pointe
Katherine and Warren Coopersmith sold their home in the 15-lot Weston Pointe development at 608 Weston Pointe Court to Doy Baker Jr., of Cincinnati, for $925,000. The three-bedroom, three-bath residence was constructed in 1993 with 2,430 square feet of living space and a swimming pool. The Coopersmiths bought the property for $879,000 in March 2009.

Beachplace II
Herbert and Elaine Blum, of New York City, sold their Unit 303 in Building 5 at Beachplace to Laura and Richard Ogden, of Washington, D.C., for $490,000. Arvida Corp. built the two-bedroom, two-bath condo at 1105 Gulf of Mexico Drive in 1981 with 1,503 square feet of living space.

Harbour Villa Club
Paulina Young, from Traverse City, Mich., bought Unit 105 at the 38-unit Harbour Villa Club, site of the former Buccaneer Inn, 615 Dream Island Road, from Linda Dennis Harvey, of Sun City Center, for $425,000. The purchase also includes title to Parking Space No. 33 and Boat Slip No. 74.

The two-bedroom, two-bath condominium was developed by the late Herb Field in 1985 with 1,293 square feet of living area.

Sabal Cove
Chezelle and Peter Serev, of 3580 Bayou Circle, bought a vacant lot at 3317 Sabal Cove Drive in the 38-lot Sabal Cove development for $380,000 from Martha Brown, of Sarasota.

Sleepy Lagoon Park No. 2
Hosneara Malik, of Dix Hill, N.Y., sold a vacant Lot 12 at 628 Lyons Lane on the bayside of Sleepy Lagoon Park No. 2 subdivision to Sara and Wasim Rahman, from Plainsboro, N.J., for $330,000.
Malik bought the lot for $200,000 in September 2000.

Pelican Harbour & Beach Club
Kenda and Philip Smith, from Flushing, Mich., paid $259,770 to Jean Bender, of Sarasota, for Unit AA-1 at the 65-unit Pelican Harbour & Beach Club. Unit AA-1 is located at mid-Key, on the Gulf side of 4234 Gulf of Mexico Drive. Built in 1973, the condo has two bedrooms, one bath and 1,150 square feet of living area.

Gulf Key Condominium
Karen MacInnes, successor trustee to the Janet Pivarnik revocable trust agreement, of Sarasota, sold Unit 3 at the 10-unit Gulf Key Condominium, 540 Neptune Ave., to Robert Nosworthy, of Tampa, for $206,000.

The two-bedroom, two-bath apartment was constructed in 1972 with 1,044 square feet of living area. Pivarnik bought the condo for $84,100 in September 1993.

LBK Moorings Marina
Ann Fussell, 5380 Gulf of Mexico Drive, bought Boat Slip 06 on Pier D at the Longboat Key Moorings Marina from Marie Barker, of Simpsonville, S.C., for $155,000.

Boathouse on Longboat Key
There was one sale at the 194-berth Boathouse on Longboat Key, 410 Gulf of Mexico Drive, in which Carol and Barry Lewis, of Sarasota, sold Boat Berth 1116 to J.L. Westerberg, 535 Sanctuary Drive, for $37,400.

St. Armands Towers
Paula and David Sheppard, from West Hartford, Conn., bought Apartment 81 at St. Armands Towers, 101 Ben Franklin Drive, for $575,000 from Barbara Bechstein, of Homer Glen, Ill. The two-bedroom, two-bath condo was built in 1968.

Kent Chetlain is a veteran Florida journalist and historian, a former Manatee County commissioner and a holder of a Florida real-estate license. He has chronicled real-estate activity in this area since 1957.