Downtown luxury condo tower nearly sold out

Only two of 39 condominiums remain available at The DeMarcay, including a two-level, 6,814-square-foot unit priced at $12.5 million.

By Andrew Warfield
| 11:30 a.m. February 2, 2023

The DeMarcay pays homage to its predecessor at 33 S. Palm Ave. with the preservation of the DeMarcay Hotel facade.

Sarasota
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An under-construction luxury condominium tower in downtown Sarasota is nearly sold out. The DeMarcay at 33 S. Palm Avenue has two of its 39 residences available for sale.

Vertical constriction of The DeMarcay is nearly complete. The 17th floor deck is being poured this week and drywall is complete through the seventh floor. Installation of windows is complete through the 10th floor.

Unit 1301 is offered at $4.25 million, featuring 3,407 square feet of living space with three bedrooms plus a den, three full baths and a half bath, two outdoor terraces with waterfront views and two parking spaces.

A rendering of a master bedroom with a view of Sarasota Bay in The DeMarcay at 33 S. Palm Ave.

Unit 1601, the largest in the building occupying the 15th and 16th floors, is priced at $12.5 million. It includes 6,814 square feet of living space with four bedrooms, 4 full baths and a half bath and three additional customizable rooms that can accommodate a library, wine room or home theater, among others.

The main living area and primary bedroom offer views of Sarasota Bay and the marina. A formal guest suite is on the second level, a complete guest suite with kitchenette is on the first level, and a private internal elevator connects the two floors. Four parking spaces are also included.

“These last two homes are some of the largest and most upscale condos on the market in Sarasota with unrivaled waterfront views,” said Greg Kveton, principal with The DeMarcay developer GK Real Estate. “We expect to begin delivering homes to buyers in the fall of 2023, with a full-service concierge staff available 24/7 and our rooftop amenities.”

The street-level facade of the historic DeMarcay Hotel has been preserved and incorporated into the architecture of tower.

The DeMarcay is one of several luxury residential developments under way in the heart of downtown. Under construction In The Quay are Bayso and Cordelia, which will have a combined 349 units. Site work is underway for The Edge Sarasota, which will bring 27 condos to 290 Cocoanut Avenue. Construction is going vertical at One Main Plaza, the mixed-use development at 1991 Main St., which will bring 418 luxury apartments.

Others are planned or underway.

author

Andrew Warfield

Andrew Warfield is the Sarasota Observer city reporter. He is a four-decade veteran of print media. A Florida native, he has spent most of his career in the Carolinas as a writer and editor, nearly a decade as co-founder and editor of a community newspaper in Mecklenburg County, North Carolina.