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Longboat Key Wednesday, Jun. 17, 2009 11 years ago

Key Real Estate

by: Kent Chetlain

A nearly one-year high of 17 real-estate sales was recorded on Longboat and its surrounding keys between June 1 and June 5. It was the highest total since the week of July 7 through July 11, 2008, when 19 key transactions were filed at the Sarasota and Manatee County courthouses.

Last year’s peak week for sales was the first week in June 2008, because a flurry of 26 real-estate purchases was recorded with no fewer than 12 topping the $1 million plateau.

Is this an indication that the current realty slump has bottomed out? Probably not, although it is an encouraging sign. It certainly is a reflection of the increasing number of pending real-estate sales as reported recently by area Realtors and the Sarasota and Manatee Multiple Listing Services.

There were two $1.5 million sales for the first week in June, one on Longboat Key and the other on St. Armands Key.

The largest sale on Longboat Key was the $1.5 million that Patrick and Susan Jack paid for Unit 907 at the 10-story, 112-unit Promenade, 1211 Gulf of Mexico Drive. The sellers were Barbara Vanderkolk and Thomas Gardner, of Princeton, N.J.
The three-bedroom, four-bath condo was constructed in 1985 and has 2,934 square feet of living space. The Jacks paid $1.45 million for the apartment in May 2005.

St. Armands Key
Tying for the largest sale of the week was the $1.5 million that Dean and Darlene Glasel received for their 4,907-square-foot home at 157 N. Washington Drive on St. Armands Key from Julia and William Cox, from Bethesda, Md.
The 10-year-old manse has three bedrooms, three baths and two half-baths, plus a swimming pool. The Glasels paid $228,000 for the property in August 1997 and built their new home on Lots 31 and 32 in Block 5 of the St. Armands Division of John Ringling Estates in 1999.

Water Club I
Annelies and Harris Freedman, of Manhasset, N.Y., sold their condominium Unit 408 at the 11-story, 86-unit Water Club I to Lawrence and Terry Mass for $1.1 million. The three-bedroom, four-bath condo at 1241 Gulf of Mexico Drive was built in 1996 and has 2,965 square feet of living space.
The Freedmans purchased the condominium new for $740,000 in May 1996. At the same time, the Freedmans sold their Water Club I Parking Space E-I-39 to their fellow Water Club resident Jerome Lavin for $55,000 in the week’s lone non-residential transaction.
Unit 111, a 940-square-foot, one-bedroom, two-bath condominium at Water Club I was purchased by Estralita Ward, 1281 Gulf of Mexico Drive, from the Trine family, of Angola, Ind., for $400,000.
The Trines bought the condo in October 1999.

Inn on the Beach
There were two sales at the 221-unit Inn on the Beach. In the larger of the two, Renee and Jon Greco, of Kenosha, Wis., sold their 1,309-square-foot Unit 103 in Building 1 to Zandraz Limited, a company incorporated in England and Wales, based in London, for $972,000. Built in 1982, the condo is located at 200 Sands Point Road on Longboat Key’s south beach.
Unit 201 in Building 6 was purchased by Union Trust Inc., of Sarasota, from Katherine and Donald Zandstra, of Flushing, Mich., for $280,000. The one-bedroom, two-bath apartment at 225 Sands Point Drive has 642 square feet of living area and was constructed in 1983.

Sands Point
There were two sales at the 78-unit Sands Point condominium. Anna Nekoranec, 260 N. Washington Drive, sold her Unit 215 to Laura and Blake Augsburger, from Mishawaka, Ind., for $875,000. The two-bedroom, two-bath condo has 1,941 square feet of living space and was constructed in 1974.
Dennis Smith, from Success Group Inc., of Bradenton, purchased Unit 318 at Sands Point for $730,000.
The two-bedroom, two-bath condo was constructed in 1966 and has 1,941 square feet of living area.

Beachplace III
J.P. Sachs Associates, of New Canaan, Conn., sold Unit 101 in Building 9 at Beachplace III to L.B.K. Holdings LLC, of Colts Neck, N.J., for $650,000.
The two-bedroom, two-bath condo at 1045 Gulf of Mexico Drive has 1,172 square feet of living room was built in 1981.
Sachs Associates bought the condominium for $176,000 in 1981.

Village of Longbeach
The 31-year-old home at 6865 Hughes St. in the historic Longbeach subdivision was purchased by Luke Magliaro and Howard Raczkiewicz, from Ocean Grove, N.J., for $632,500. The three-bedroom, two-bath residence has 2,042 square feet of living area. The seller was William Sullivan, of Winter Park. Sullivan paid $772,500 for the home in May 2005.

Privateer North
Gillian and Malcolm Legg, of Teulada-Morairal, Spain, sold their Unit 702 at the Privateer North to Kehinde Layeni, of Sorrento, for $540,000.
The two-bedroom, two-bath condo at 1050 Longboat Club Road has 1,290 square feet of living area and was constructed in 1974. The Leggs bought the condo for $380,000 in November 1999.

Seaplace VI
David Langhaug, from Gainesville, Va., purchased Unit G8-205-A at Seaplace VI from Susan Ruth Walker and Robin Murray Walker, both individually and as trustees of the spouse’s trust under the will of Robert Muirhead Walker, of Quebec, for $440,000.
The two-bedroom, two-bath condo at 1925 Gulf of Mexico Drive has 1,257 square feet of living space and was constructed by Arvida Corp. in 1978.

Country Club Shores IV
Mark Lynch, of Phoenix, sold his Country Club Shores Unit IV home at 1000 Bogey Lane to Blair Hunter, of Sarasota, for $320,000.
The two-bedroom, two-bath home has 1,235 square feet of living area and is one of the older homes in Country Club Shores, having been constructed in 1964.

Longboat Harbour
Amy and Alan Shaffer, from Pittsford, N.Y., bought Unit 206 in Building L at the 300-unit Longboat Harbour at 4420 Exeter Drive from Mildred and Joseph Hamer, of Rockville, Md., for $300,000. The two-bedroom, two-bath condo was built in 1970 by the late I.Z. Mann.

Fairway Bay I
Stanley Braham, of New York City, sold his Unit 154 in Building M1 at Fairway Bay I to Chunze Zhu and his wife, Judy Chen, from West Hartford, Conn., for $299,000. The two-bedroom, two-bath condo at 1930 Harbourside Drive was constructed in 1982 and has 1,192 square feet of living area.

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