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
26 St. Armands Fine Art Festival
10:00 am - 5:00 pm
29 Nia with Gail on Anna Maria Island
11:00 am - 12:00 pm
30 Nia with Gail on Longboat Key
11:30 am - 12:30 pm
3 Food and Wine on Pine
11:00 am - 6:00 pm
Capt. Benjamin Grodi honored with military medal
U.S. Marine Corps Capt. Benjamin Grodi, son-in-law of Longboat Key residents Nelson and Laurin Goldner, was recently honored with the Meritorious Service Medal.
Campaign Against Summer Hunger
Here are the week’s donation totals for All Faiths Food Bank’s Campaign Against Summer Hunger.
A Cinderella story
A 10-week-old miniature pinscher puppy found a “happily ever after ending” at the Celebration of Pets April 12, at the Sarasota County Fairgrounds.