Rosalyne Holdings, LLC, has purchased a 6.5-acre parcel of land near downtown Sarasota for $4.5 million.
The company is considering the development of residential rental apartments on the site, which runs along Cocoanut Avenue, between the Boulevard of the Arts and 10th Street in the city's Rosemary District, according to a press release.
The seller was IberiaBank, which had assumed the loan on the property in 2006 from the now defunct Orion Bank. Iberia foreclosed on the tract in 2012, after plans for a mixed-use development by an Atlanta developer fell through.
Rosalyne Holdings is part of Longboat Enterprises, LLC, a venture of its founder and CEO Bruce Weiner, a Sarasota resident who also owns Florida Classic Car Storage on Central Avenue.
The project is in the planning stages, asRosalyne Holdings continues to gather data on needs and viability.
The buyer was represented by commercial real estate broker, John B. Harshman of Harshman & Company, Inc.
Atlanta developer Wayne Morehead had planned to build a mixed-use project called CityPointe on the site, with up to 365 market-rate condos. That development was never built.
Currently 0 Responses
2 3rd annual 'Power of the Girl' Business Breakfast
2 French apÃ©ro evening
5:00 pm - 7:00 pm
2 Florida's Children First 2014 Sarasota Reception
5:30 pm - 7:30 pm
2 'Safe Sex Halloween Bash: Midnight on the Bayou' Pre-Party Kiki
7:00 pm - 11:00 pm
Observer adds new staff writers
Jessica Salmond, staff writer, is a Missouri native and graduated in May from the University of Missouri. Amanda Morales, staff writer, is a native Floridian who has lived on both coasts.
Arts festival raises awareness
The 20th annual downtown Sarasota Art and Craft Fair takes place Oct. 4 and 5, at Five Points Park and Central Avenue.
Bridging the gap
The Children’s Guardian Fund wants to help teens get hired.