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Real Estate
Longboat Key Wednesday, Oct. 14, 2009 8 years ago

Lido Shores home sells for $3.25 million

by: Kent Chetlain

On July 25, 2003, Robert Trosten, the 33-year-old chief financial officer of Refco, an active commodities brokerage firm, paid $650,000 to buy Unit 15-D at the 15-story Sea Gate Club, 2425 Gulf of Mexico Drive.

Then, Sept. 28, 2004, Trosten bought the home at 1345 Westway Drive from Suzanne and Rodney Erickson, of Hilliard, Ohio, for $5 million.

But, then, Jan. 16, 2007, Trosten was charged in a 20-count “superseding indictment with conspiracy to commit securities fraud, wire fraud, bank fraud and money laundering; and making false filings with the SEC and material misstatements to auditors.”

Government alleges $2.4 billion fraud
The indictment also included a demand that Trosten “forfeit to the United States ... all property, real and personal, that constitutes or is derived from proceeds traceable to the commission of the alleged” offenses, “including but not limited to a sum of money equal to $2.4 billion in U.S. currency, representing the amount of proceeds obtained as a result of the offenses.”

Faced with 20- to 30-year prison terms, Trosten and his boss, Refco CEO Phillip Bennett, recanted their earlier not guilty pleas Oct. 25, 2006, pleading guilty on Feb. 20, 2008, before U.S. District Court Judge Naomi Reice Buchwald.

Trosten also submitted a letter of apology for his actions in the case.

In a plea deal with the prosecution both Trosten and Bennett agreed to the forfeitures of $37 million in bank CDs and other bank accounts and turned over numerous foreign sports cars, among other personal assets. On July 1, Buchwald signed the final order approving the guilty pleas, and the defendants agreed to all other forfeitures in the U.S. District Court for the Southern District of New York.

Slaaliens buy Lido Shores home
A couple from the north Orlando suburb of Longwood purchased the Lido Shores home at 1345 Westway Drive with its 100 feet along the pass.

Noreen and Roger Slaalien Jr., paid $3.25 million to the United States of America, as represented by the U.S. Marshall’s office in Tampa, who turned over the warranty deed to the property. Built in 2001, the four-bedroom, five-and-a-half-bath home has a swimming pool and 5,268 square feet of living area.

Bay Isles
Harry Eisenberg purchased a 5,048-square-foot home in Bay Isles, Unit I, at 540 Harbor Gate Way from Cadence Bank, N.A., of Bradenton, for $1.7 million.

The four-bedroom, five-bath residence with a swimming pool was constructed in 1991. The property last sold for $1,688,900 in January 2008.

Queens Harbour
In the third-largest sale of the week, Geraldine Schuler, of Gainesville, received $1.4 million for her home at 3618 Fair Oaks Place in Queens Harbour from Isabelle and Joseph DeRoy, of White Plains, N.Y.

The three-bedroom, three-and-a-half-bath home was constructed in 1990 and has a swimming pool and 3,335 square feet of living space. The Schulers bought it new for $652,500 in August 1990.

Sanctuary I
In an all-Toronto transaction, Beverley and John Rook bought Unit B-103 at Sanctuary I from 1239706 Ontario Inc. for $765,000. The three-bedroom, two-and-a-half-bath apartment at 585 Sanctuary Drive was constructed by Yale Properties, of Boca Raton, in 1990 with 1,823 square feet of living area. The condominium last sold for $477,300 in July 1997.

Tangerine Bay Club
Francoise Baillargeon and William Kribs paid $700,000 to Nadia and Pasquale Amato, of Sarasota, for their Unit 331 in Building 3 at the 90-unit Tangerine Bay Club, 360 Gulf of Mexico Drive.

The three-bedroom, four-bath condo was built in 1992 and has 2,513 square feet of living area. The Amatos bought the apartment for $530,700 in August 1993.
Longbeach Village

There were two sales in the historic north-Key Longbeach Village.
Richard Sanders, of North Eastham, Mass., sold his 30-year-old home at 6821 Hughes St. to Leon Catlin and Dan Catlin, of Ticonderoga, N.Y., for $446,640. Leo Catlin bought an 83% interest in the property, while Dan Catlin purchased the remaining 17%. The house has three bedrooms and one-and-a-half baths with 1,804 square feet of living area. Sanders acquired the house for $285,000 in April 1997.

Carol and Fred Kagi Jr., from Oviedo, bought the Longbeach Village home at 700 Russell St. from Diane Gurley, of Brooklyn, N.Y., for $407,500. The three-bedroom, two-bath home was constructed in 1970 with 1,981 square feet of living area. The house last sold for $345,000 in March 2004.

Mark Twain Apartments
Blayne Thompson, of Sarasota, sold her Unit 2-F at the Mark Twain Apartments at 1336 Ben Franklin Drive to Cabell Childress and Mary Lawson through their trusts for $426,900. The two-bedroom, two-bath condo was constructed in 1966 with 1,530 square feet of living area. The apartment last sold for $825,000 in December 2004.

Lido Ambassador
Norman and Maryse Cyr, of Lakeland, purchased Unit 404 at the Lido Ambassador on Lido Beach at 800 Ben Franklin Drive for $285,000 from Barbara Collins, of Rockwell, Texas, and Betsey Amerson, of Evergreen, Colo. The one-bedroom, one-and-a-half-bath condo was built in 1978 and has 900 square feet of living space. The condo last sold for $129,900 in 1997.

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.

To view Building permits issued by the Longboat Key Planning and Zomning Department for the week of Oct. 2 through Oct. 8, please click here.

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