Benderson revamps downtown Sarasota plans

By KEVIN MCQUAID
kevin.mcquaid@heraldtribune.com

SARASOTA — Benderson Development Co., in response to city concerns about pedestrian safety on Main Street, has completely revamped plans for a 16-story hotel tower connected to its Bank of America building.

Under the new plans, filed with Sarasota planners Wednesday afternoon, Benderson has shifted the proposed 180-foot tall hotel and condominium tower behind the 13-story Bank of America building, at 1605 Main St.

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More condos planned for downtown Sarasota

The new owner of the M&I Bank Building filed plans Wednesday with the city to develop a 10-story condominium tower on the downtown property.

Michigan-based Triton Cos. plans to build its 111-unit project atop an existing garage and on vacant land at the 240 S. Pineapple Ave. site.

"One Palm," as Triton's mixed-use condo tower will be called, also could become the first major structure built under downtown zoning rules that went into effect Jan. 1.

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This a great location. It will be interesting to see if this project comes to fruition. I will keep you posted on any new news.

Ritz Carlton Tower Residences

The penthouse in The Ritz Carlton Tower Residences sold on the 12th of July for $4,750,000. The listing agent describes this as a gracious Penthouse that offers uninterrupted South & West vistas of the Bay & the Gulf of Mexico. Features include an open & generous floor plan with over 5,000 sq. ft., exceptional appointments throughout including 2 fireplaces, library, gourmet kitchen, & 3 terraces, PLUS A PRIVATE 2 CAR GARAGE. A wealth of world-class amenities: fitness center, swimming pool, private movie theater, in-residence dining, gourmet restaurant, 24 hour concierge service, & maid service. You can be assured the pampering & incomparable service made famous by The Ritz-Carlton!

The Sarasota MLS shows 5 units selling in The Ritz Carlton Residences (hotel building) and The Ritz Carlton Tower Residences so far this year. The least expensive sold was $1,800,000 while this penthouse transaction at $4,750,000 is the most expensive.

This segment of the Sarasota real estate market does not appear to be slow.

Downtown Sarasota Home Recently Sold

This 2 bedroom/3 bath home at 1905 Morrill Street has 1,837 square foot. The home is a single family residence (approx 800 sq ft) and 2 one br apts (500 sq ft each). The home was on the market for 94 days and sold for $775,000 or $421 a square foot.

July 7 Downtown Sarasota Real Estate Stats

Here are some statistics pulled from the Sarasota MLS about the Downtown Sarasota Real Estate market.

Downtown Sarasota Condos
202 condos for sale
33 condos currently under contract

Downtown Sarasota Homes
31 homes for sale
7 homes currently under contract

Here were the statistics for May 27th:

Downtown Sarasota Condos
212 condos for sale
42 condos under contract

Downtown Sarasota Homes
37 homes for sale
6 homes under contract

3 condos sell in 100 Central

Three more condos have recently sold in the 100 Central downtown Sarasota condominium community. An 8th floor unit sold June 15th for $740,000. It had 2 bedrooms, 2.5 baths with 1,611 square feet. This buyer paid about $459 a square foot.

Unit 710 sold June 26th for $695,000. It was also a 2 bed, 2.5 bath unit with the same square footage. This buyer paid about $431 a square foot. Unit 510 with about the same square footage sold June 26th for $650,000. This buyer paid about $402 a square feet. The difference in price between these 3 units is primarily due to what floor they were on, view and any upgrades within the unit. Please call me at 308-6766 if you are looking to buy or sell a unit in 100 Central or any other downtown Sarasota real estate.

2 more condos sell at the Ritz Carlton in Sarasota

Two more condos have sold recently in the Ritz Carlton Tower Residences.

The two units were in the Tower Residences (building with no hotel rooms) section of the property. The 9th floor unit has 3 bedrooms, a den, 4 bathrooms and 3,659 square feet of living space. It sold June 9th for $2,335,000. Unit 1201 in the building also sold June 15th for $2,600,000. This is a 3 bedroom, 3 bath unit with 3,751 square feet without a southwest view of the water. Please call me at 308-6766 if you are looking to buy or sell a Ritz Calrton condominium or any other downtown Sarasota condo.