Longboat Key home sells for $4 million

 

Longboat Key home sells for $4 million

 

Date: November 18, 2009
by: Kent Chetlain

 
 

Sheri and Ralph Trine, from Fremont, Ind., paid $4 million for the two-year-old, 10,216-square-foot house on Sarasota Bay at 5060 Gulf of Mexico Drive. The sellers were Longboat Key Partners II, LLC and Bluewater Development, LLC, of Sarasota, as represented by Timothy J. Morris, managing member of LBK Partners. LBK Partners II acquired the vacant property at the height of the recent real-estate boom in December 2003 from a group of investors known as 5000 Gulf of Mexico Drive for $2,239,400. The four bedroom, five-and-a-half bath residence sits on almost one acre.

Water Club I
The second-largest transaction of the week was the $1,285,000 that Michelle and Michael Silvestri received for their Unit 1005 at the 86-unit Water Club I tower. The buyers were Rhoda and Jeffrey Simbrow. The three-bedroom, three-bath condo was constructed in 1996 and has 2,650 square feet of living area. The Silvestris bought the apartment new for $750,000 in 1996.

Inn on the Beach
A 1,288-square-foot resort apartment was sold at the 221-unit Inn on the Beach for $965,000 by Anne and Dayton Jackson, 615 Dream Island Road, to Johan Seeholzer and her husband, Gabriele von Chamier-Glisczinski Seeholzer, of Erding, Germany. The condo, Unit 503 in Building 4 at 240 Sands Point Road, was built in 1982. The Jacksons paid $915,000 for the apartment at the height of the realty boom in September 2004.

Grand Bay II
Ronald Alford, from Worthington, Ohio, bought Unit 285 in Building II at Grand Bay from Pamela and Charles Mostek, of Fayetteville, Ark., for $925,000. The three-bedroom, three-and-a-half-bath condominium is located at 3040 Grand Bay Blvd. It was constructed in 1996 and has 2,143 square feet of living space.

Islander Club
Over at the 12-story, 140-unit Islander Club of Longboat Key there was one transaction, in which Lynette and Christopher Unnerstall, of Windermere, sold their penthouse Apartment 1-S to Virginia and Kevin O’Connor, of Lakeville, N.Y., for $700,000. The two-bedroom, two-bath rooftop condo at 2295 Gulf of Mexico Drive was built in 1970 and has 1,235 square feet of living area.

Fairway Bay II
Roberta and Christopher McGuigan, from Huntington, N.Y., bought Units 424 and 425 in Building M–4 at the 288-unit Fairway Bay II for $540,000 from T. Raymond Suplee, trustee. Constructed in 1984, the condominium, located at 2020 Harbourside Drive, has three bedrooms and three baths with 2,462 square feet of living space.

Aquarius Club
Barbara Quantius, of Mequon, Wis., sold her Unit 3-J at the 59-unit Aquarius Club to Cynthia Milnes, from Amherst, N.H., for $526,300. The two-bedroom, two-bath condo at 1701 Gulf of Mexico Drive was built in 1975 and has 1,551 square feet of living area. The condominium last sold for $329,000 in April 1998.

Sea Gate Club
Jeff Phelan, of Oakdale, Minn., purchased Unit 11-C at the 15-story, 90-unit Sea Gate Club, 2425 Gulf of Mexico Drive, for $525,000 from H. Malcolm Robinson and Frances Robinson, trustees. The Robinson Family Trust acquired the condominium for $315,000 in July 1998.

Seaplace VI
Karen Fleiss and Joanne Streit, as ancillary co-personal representatives of the estate of the late Pauline Mandell, of New York City, sold Unit G7-211-B at Seaplace VI to Joann and Martin Nowak, from Middletown, N.Y., for $450,000. The three-bedroom, two-bath condo at 1935 Gulf of Mexico Drive was constructed in 1979 with 1,492 square feet of living area.

Sutton Place
Jerome Tomaino, of Apartment 401-B, bought Penthouse 1 in the south building of the 80-unit Sutton Place condominium, 4300 Gulf of Mexico Drive, from Donald Pierce, of St. Mary’s, Ga., for $250,000.The one-bedroom, one-bath condo was built in 1973 with 696 square feet of living area. Pierce bought the condo for $230,000 in August 2008.

St. Armands Towers North
Zena and Gary Paice, from Oak Park, Ill., bought Apartment 106 at St. Armands Towers North, 1 Ben Franklin Drive, from Lois and Nicholas Lardieri, for $697,500.The two-bedroom, two-bath condo was built in 1968 with 1,389 square feet of living area. The Lardieris purchased the apartment for $230,000 in April 1993.

Bird Key
There were three transactions on Bird Key for the week, one of which involved no cash.

The largest sale was the home at 476 E. Royal Flamingo Drive, which Georgina Pirrone, from Ho-Ho-Kus, N.J., purchased for $500,000 from National City Bank of Pennsylvania, formerly known as PennBank and Penn Bank & Trust Co., acting as trustee of the Elmore H. Broadhurst Trust, of Erie, Pa. The three-bedroom, two-bath home was constructed in 1972 with 1,918 square feet of living area.

The second transaction involved the Federal Deposit Insurance Corp. (FDIC) awarding a vacant Bird Key lot (7 in Block 22) at 685 Owl Drive to The Stearns Bank National Association, of St. Cloud, Minn. The FDIC became involved as receiver for First State Bank of Sarasota and was a part of Stearns Bank’s purchase of the Sarasota bank.

In the final Bird Key transaction, Sarasota City Manager Robert Bartolotta turned over a quit-claim deed to his wife, Mary Bartolotta, surrendering his interest in their home at 567 Bird Key Drive for $150,700. Bartolotta bought the home for $750,000 in July 2007. The three-bedroom, two-bath home with a swimming pool was constructed in 1964 with 1,470 square feet of living area.

Kingston Arms
A former Port Charlotte couple, Claire and Charles Schoonover Jr., purchased Unit 16-B at Kingston Arms condominium at 500 Washington Drive, St. Armands Key, for $220,000 from Zeilon Investments Inc., Sarasota. The condo has one bedroom and one bath with 770 square feet of living area.

Kent Chetlain is a veteran Florida journalist and historian, a former Manatee County commissioner and a holder of a Florida real-estate license. He has chronicled real-estate activity in this area since 1957.

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