Ritz-Carlton penthouse sells for $5 million

A penthouse at the Ritz-Carlton Beach Residence building on Lido Key sold last week for $5 million, the highest-priced sale ever in that building.

Roger Pettingell of Coldwell Banker Residential Real Estate represented both the buyer and the seller in the transaction that was completed on Friday, April 27.

The penthouse offers 4,200 square feet of living space and features a pair of terraces overlooking the beach from 1300 Benjamin Franklin Drive. According to MLS records, the home was listed in early April for $5,495,000.

The 12th floor unit has three bedrooms and 3½ baths. From the eastern facing windows, views of Sarasota Bay can be seen, and western windows feature the Gulf of Mexico.

“The luxury market continues to be strong in Sarasota,’’ Pettingell said in a release.  “There are several factors affecting the market, including increased buyer wealth due to the rising stock market; the new tax law; the awful winter weather up north; and the never-before availability of prime A+ properties for sale.”