Longboat Key condo sells for $4.2 million

On Longboat Key, new condominiums at Infinity and Aria have commanded prices upward of $5.1 million so far this year. But it was a unit nearly a decade old that has set the price-per-square foot record for condos in 2016.

Coldwell Banker Realtor Bruce Myer this month brokered the $4.2 million sale of a 3,200-square-foot unit at Positano. The property, which has three bedrooms and three-and-a-half bathrooms with a view overlooking the Gulf of Mexico, was originally listed for $4.49 million, according to a news release.

The condo originally sold for $4.05 million in 2007, when the building was first constructed, and was last assessed at $2.54 million, according to the Manatee County property appraiser’s website.

“Condominiums without upgrades and renovations will not see as much appreciation as those which have been tastefully renovated,” Myer said in the release. “And right now, the demand is strong on Longboat Key for these properties.”

A previous Longboat Observer analysis showed that new and renovated condos are driving the real estate market on the Key so far this year.