The Wicker Inn sold for $4.2 million Friday, June 11, according to Reid Murphy, who represented both the buyer and seller for the transaction. According to Murphy, the resort, which is located at 5581 Gulf of Mexico Drive, was listed on the MLS for just five days before it went under contract. The property was initially listed for $5.5 million.
“Beachfront is becoming harder and harder to come by,” Murphy said. “We negotiated it last weekend, and it closed immediately. It was the perfect scenario.”
The seller was U.S. Assets Group, a Sarasota company registered to Thomas Brown. The resort was purchased by a family who spends the winter in the area, Murphy said. At press time, their names were not available.
The property consists of 10 rental suites and one cottage, which range from one bedroom to three bedrooms. U.S. Assets Group purchased the property for $5.6 million in August 2006 and initially planned to transform the resort into Wicker Beach, a six-unit luxury condominium community with units priced from $3 million to $4 million. But, according to Murphy, the property will continue to operate as a resort.
“It’s a beautiful location,” Murphy said. “It’s going to stay a resort and keep that tourism going.”
Contact Robin Hartill at email@example.com.
Currently 0 Responses
10 Sarasota Singles Society Salutes the Sunset!
6:00 pm - 9:00 pm
12 Dog Days of Summer Adoption Event
11:00 am - 3:00 pm
17 L'Europe UnCorked!
6:00 pm - 7:30 pm
18 Jewels on the Bay Showhouse
10:00 am - 4:00 pm
Mote-tagged shark swims toward Sarasota
A 14-foot, 2,300-pound great white shark is currently heading eastbound toward Sarasota.
Police get a wheel deal from anonymous citizen
An anonymous citizen recently contacted the town with an offer to buy the Longboat Key Police Department a new bicycle.
Surprise daytime turtle encounter
On his evening beach walk, Longboat Key resident Mike Haycock was in for a big surprise when he spotted a sea turtle coming out of the water Sunday.