Real Estate Deal of the Week: Condo on the Bay

He says, "Dana, I met several participants in the Super Boat Grand Prix last week, and they were asking where to find the best value for direct bayfront condos in Sarasota. I told them that was easy --- since they pass by it every time they leave the municipal boat ramp just north of the Van Wezel. It's Condo on the Bay at the end of Boulevard of the Arts."

She says, "I absolutely agree with that assessment. There is really nothing else out there that comes close to those incredible bay views with good space, loads of amenities for that kind of pricing."

Condo on the Bay was built in 1982 and there are actually three components that make up this acclaimed 292-unit bayfront community. They are: 888 Blvd. of the Arts, commonly referred to as "Tower I;" 988 Blvd. of the Arts, called "Tower II;" and two- and three-level townhomes often referred to as the "Marina Suites," each with its own dedicated deep-water dock facing the small harbor shared with the Hyatt and Ritz-Carlton. The predominant feature in all of the condo units is they have direct, full bay views, and the units are uniquely positioned to take advantage of stunning sunsets from the west-facing private balconies each unit enjoys. With an abundance of amenities, the Condo on the Bay features a guard-manned gated entrance, a 24-hour concierge in each tower, covered secure parking with assigned spaces, a large heated pool for each building, state-of-the-art fitness facilities, tennis courts, boat docks and meeting and game rooms. Units in 888 can only be rented once a year for a minimum of four months and in 988 only annual tenants are allowed. One significant difference between the two units is pets: Small ones are only welcome at 988. 

He says, "Okay, thanks so much for the history lesson --- now let's get down to business. What do we have available to show and sell?"

She says, "Donald, you are always in such hurry! Slow down and smell the roses --- or in this case, the fresh sea air. So, here it is: There are five distinct models in 888 and 988, all named after famous artists in history; it is, after all, located on Boulevard of the Arts. The largest model in the towers is the Rembrandt at 2,315 square feet, with three bedrooms and two and a half baths. Next is the Van Gogh at 1,729 square feet, with two bedrooms and two baths. The Cezanne is very similar to the Van Gogh but slightly smaller, and the Renoir holds 1,656 square feet with two bedrooms and two baths. Finally, the smallest is the Monet at 1,288 square feet with two bedrooms and two baths. All of them have balconies --- some of them have two!

The Marina Suites have two models, the Mozart and the Chopin --- these are the two- and three-story town homes with deep water docks. Out of the 292 total units in the complex, there are only 10 available for sale at this time, which again speaks very well for the real estate market downtown in general, and specifically the building and its management. There are five Renoirs, three Van Goghs, one Rembrandt and one Marina Suite. Sounds like an art exhibit at Ringling, don't you think? So, what is your pick?"

He says, "I'm going to go with a Renoir, unit #315 in 988. This one just came on the market. It is a lovely home, freshly painted with new carpet and lots of other "new," including a hot water heater and nearly-new AC unit. It comes very tastefully furnished if one prefers. I really love the views --- you are high enough to capture the big expanse of the bay and low enough to feel connected to the ground. A very good buy that allows a small pet. It also happens to be the second-least expensive in the complex, listed at $425,000."

She says, "That is a good one --- and has my vote. Since you picked 988 I will go with one in 888. I like the looks of unit #1201. This one also has some fabulous views. As a Rembrandt model, besides another bedroom it also has two balconies: one off the living/dining room and the other off the bedroom. The kitchen and baths were updated with granite, raised panel cabinets and new appliances in 2012. All of this can be had for $699,000.

He says, "Again, I think what we both love are the fabulous amenities this complex has to offer, including boat docks that were recently upgraded and renovated and the lobby and common areas that were recently redone in 888. 988 will begin their renovations shortly --- and word has it that no special assessment will be levied to the owners to complete the upgrade. That speaks volumes in terms of the overall financial health of the association."

She says, "Besides all they offer, you are essentially downtown, close to fabulous restaurants, a short walk to the Van Wezel, G.Wiz and the theaters, and so close to St. Armands and Lido beach. What more could you ask for?

She says, "How about the name of a good real estate agent to help you buy one?"

"I can help you with that: The last name is pronounced 'geek-y', spelled G-E-I-K-I-E!"

- The Real Estate Deal of the Week is brought to you by Donald Geikie and Dana Westmark, realtors with the fabulous Main Street office of Michael Saunders & Company. They can help you buy or sell, so spark your own conversation with Donald and Dana by calling (941) 951-6660.