Two Longboat properties sell for $6 million each

 

Two Longboat properties sell for $6 million each

 

Date: November 5, 2013
by: Robin Hartill | News Editor

 
 

 

 

Two sales recorded on Longboat Key totaled $12.2 million.


In the first sale, Ocean Properties Ltd., closed on its purchase of the Chart House Shops at 201 Gulf of Mexico Drive for $6.2 million.


Andy Berger, vice president of the Delray Beach-based company that owns the Resort at Longboat Key Club, Longboat Key Hilton Beachfront Resort, Lido Beach Resort and Lido Beach Holiday Inn, confirmed Ocean Properties’ plans to buy the Chart House building.


Seller CORE/PMG Longboat LLC purchased the property for $5.5 million in August 2004.


The property is home to the Chart House Restaurant, Exit Art and Coldwell Banker Residential Real Estate.
In the second sale, 2.25-acre vacant residential property consisting of two adjacent lots at 6271 Gulf of Mexico Drive sold for $6 million. According to listing agent Michael Moulton, of Michael Saunders & Co.’s Longboat Key South office, the transaction is the largest recorded sale in the region for a vacant Gulf-front parcel since 2004.


Names of the buyers were not immediately available.


“The typical lot is 100 feet or less on the waterfront but this is 200 feet,” Moulton said. “There’s very few parcels like that.”


The property sold for its full list price of $6 million.


Beverly Alter and Deborah Beacham, both of Michael Saunders & Co., represented the buyer.

Contact Robin Hartill at rhartill@yourobserver.com.

 

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