A couple from Lido Shores purchases Grand Mariner

Ralph and Sheri Trine, of Lido Shores, are the buyers of the 14-unit Grand Mariner condominium. The $9.5 million sale was reported in the April 14 issue of the Longboat Observer. Dream Island LLC completed the project in August 2007, after a legal battle that stretched nearly five years.

Over the next year, seven of the development’s units were put under contract. But before they could close, LaSalle Bank NA filed a foreclosure suit against Dream Island LLC, claiming the developer had defaulted on $22.5 million in loans.

In 2009, Bank of America received a foreclosure judgment of more than $26 million and took over the 1.9-acre property.

Reid Murphy, of Developers Realty Inc., handled the transaction and will be marketing the units for the new ownership. He says that Bank of America kept the property in great shape.

“I think the big thing it needed was a price adjustment to attract a buyer now,” Murphy says of the lower costs offered by the $9.5 million purchase price. “Hopefully we can have it up and marketable for next season.”
— Additional reporting by Sean Roth

Country Club Shores
NBI Sarasota Holdings Three LLC, a Florida limited-liability company with a Reykjavik, Iceland, address, sold the vacant lot at 601 Golf Links Lane to Richard and Jacqueline Meckstroth, of Huntington, W.Va., for $1,575,000. The lot last sold for $1.62 million in October 2009.

The sale was the largest of the 18 transactions that occurred on Longboat, Lido, St. Armands and Bird keys between April 4 through April 8 at the Sarasota and Manatee county courthouses. The week’s sales included 15 on Longboat Key, two of which were in Manatee County, while one each occurred on Lido and St. Armands keys. Of the week’s sales, three exceeded $1 million.

Theodore and Linda Zuczek, of Sarasota, sold their home at 550 Golf Links Lane in Unit V to Diane Georgov, of Landenberg, Pa., for $899,000. Built in 1968, the 2,322-square-foot home has three bedrooms, two bathrooms and a swimming pool. It last sold for $699,000 in March 2008.

In another Country Club Shores sale, Molly Schechter sold her home at 1191 Bogey Lane in Unit V to Robin and Melanie Carlstein for $795,000. Built in 1971, the 3,367-square-foot unit has three bedrooms, three bathrooms and a swimming pool. It sold for $460,000 in July 1998.

Also at Country Club Shores, Mary Beth Bolla, of East China, Mich., sold her home at 512 Schooner Lane in Unit I to James and Michele Captain, of Tampa, for $465,500. Built in 1962, the 1,814-square-foot unit has three bedrooms and two bathrooms. It sold for $100,000 in November 1978.

Queens Harbour
Edgar and Kay Greve sold their home at 3602 Fair Oaks Lane in Queens Harbour to Ann Anderson, of Atlanta, for $1,415,000. Built in 1990, the 3,007-square-foot unit has three bedrooms, three bathrooms and a swimming pool. It last sold for $1.02 million in October 2006.

Water Club
Thomas Donohue, of Cincinnati, sold Unit 507 at the Water Club I, 1241 Gulf of Mexico Drive, to Donald and Susan Ullmann, of Essex Fells, N.J., for $1.2 million. Built in 1996, the 2,965-square-foot unit has three bedrooms and four bathrooms. It last sold for $1.05 million in April 2000.

Bay Isles
Gerda Schaeffer sold her home at 551 Harbor Cove Circle to Philip and Susan Gaynes, 516 Bayport Way, for $999,000. Built in 1983, the 3,128-square-foot home has three bedrooms, three-and-a-half bathrooms and a swimming pool. The property sold for $89,000 in January 1983.

Sanctuary
Manning LBK Inc., a Florida corporation with a London address, sold Unit B-706 at Sanctuary III, 545 Sanctuary Drive, located behind the Islandside gates of the Longboat Key Club and Resort, to Heung-Wing Li and Sau-Har Tang, husband and wife, of Chelmsford, Mass., for $890,000. Built in 1991, the 2,375-square-foot unit has three bedrooms and two-and-a-half bathrooms. It last sold for $1.2 million in June 2004.

Longbeach Village
Brian Dahms, of Brielle, N.J., sold the home at 621 Cedar St. in the historic Longbeach Village to Brad and Melissa Braford, of Gaithersburg, Md., for $450,000. Built in 1978, the 1,421-square-foot home has two bedrooms, two bathrooms and a swimming pool. It last sold for $300,000 in January 2003.

Privateer North
Angelika Marshall, of St. Peter, Barbados, sold Unit 905 at the Privateer North, 1050 Longboat Club Road, to Gage McNally LLC, a Florida limited-liability company with a post-office address at 2231 Harbourside Drive, for $410,000. Built in 1974, the 1,290-square-foot unit has two bedrooms and two bathrooms. It last sold for $188,000 in June 1992.

Seaplace
John and Tracy Roberts, of Brookville, Ohio, sold Unit G3-305A at Seaplace I, 2039 Gulf of Mexico Drive, to William Maher, of New York City, for $265,000. Built in 1974, the 1,257-square-foot unit has two bedrooms and two bathrooms. It last sold for $495,000 in March
2006.

Longboat Harbour
Debra Jotham and Elmer and Marjean Nees sold Unit 307 at Longboat Harbour, 4350 Chatham Drive, to Sharon Prizer, of Moorestown, N.J., for $239,000. Built in 1969, the 928-square-foot unit has two bedrooms and two bathrooms. It last sold for $120,500 in June 1998.

Jewfish Key
In a rare sale on Jewfish Key, an island just east of mainland Longboat Key that is part of the town and accessible only by boat, Timothy and Susan Addison, of Sarasota, sold the vacant lot at 7153 La Lenaire Drive to JenBen Island LLC, a Florida limited-liability company with a Holmes Beach address, for $215,000. The lot last sold for $300,000 in February 2004.

McCall’s Beach Castle
Superior Bank, formerly known as the People’s Community Bank of the West Coast, sold Unit 18 at McCall’s Beach Castle, 5310 Gulf of Mexico Drive, to Dennis and Sandra Herr, of Lancaster, Pa., for $140,000. Built in 1973, the 711-square-foot unit has one bedroom and one bathroom. It sold for $331,600 in July 2005. Superior Bank took the certificate of title in September 2010.

Grand Bay
David and Karen Meister, 560 Harbor Cove Circle, sold Parking Space G-11 at Grand Bay III to Thomas and Carol Beeler, of Bloomfield Hills, Mich., for $38,000. The parking space was formerly an appurtenance to Unit 354 of Grand Bay III and became an appurtenance to Unit 333 upon execution of the deed.

The Colony Beach & Tennis Resort
Jay Bar Associates, a New Jersey general partnership with a Plano, Texas address, sold Unit 117N at The Colony Beach & Tennis Resort, 1620 Gulf of Mexico Drive, to New Colony LLC, a Delaware limited-liability company with a Sarasota address, for $27,000. The 705-square-foot unit was built in 1973. It last sold for $79,000 in August 1981.

Lido Towers
Latricia Stewart and Lisa Krueger, of Chardon, Ohio, sold Unit 206 at Lido Towers, 1001 Benjamin Franklin Drive, to David Shoop and Maureen Bradley, of Marlton, N.J., for $275,000. Built in 1980, the 1,367-square-foot unit has two bedrooms and two-and-a-half bathrooms. It last sold for $141,000 in April 1994.

Kingston Arms
Melissa Miller, G. Loring Carlson Jr. and Susan Hodgkinson, all individually and as successor trustees of the Marjorie Carlson Residence Trust, of Lake Forest, Ill., sold Unit No. 14-A of Kingston Arms, 500 S. Washington Drive on Lido Key, to James and Laura Turner, 309 S. Washington Drive, for $240,000. Built in 1963, the 1,035-square-foot unit has two bedrooms and two bathrooms. It sold for $125,000 in July 1997.

Contact Robin Hartil at [email protected]

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