Siesta hotel sells for $6.25 million

 

Siesta hotel sells for $6.25 million

 

Date: July 21, 2011
by: Rachel Brown Hackney | Managing Editor

 
 

A beach hotel on the southern end of Siesta Key has been sold for $6.25 million.

Beach Club at Siesta Development LLC, of Indianapolis, sold the Beach Club at Siesta Key to FL Beach Club Siesta LLC, managed by Lawrence J. Fox and David Shoemaker. Beach Club at Siesta Development is managed by Robert Rynard.

The deed was recorded July 11.

The 29-unit hotel at 6732 Sarasea Circle is located on Crescent Beach. It rents studios and one- and two-bedroom units.

When Beach Club at Siesta Development bought the property in March 2008, it paid $6.765 million. Siesta Plaza Motel had paid $7.02 million for the 17,700-square-foot property in November 2005.

Contact Rachel Brown Hackney at rhackney@yourobserver.com.
 

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