Sarasota Quay holdout sells El Vernona condo for $1.5M

Sonia Hamouda, the hold out in the El Vernona condo complex, finally sold her unit to the Dublin-based redevelopers of the Sarasota Quay for its $1 billion project. They paid her $1.5 million for the 782 square foot condo. She paid less than $75,000 for the 44 year old condo in 1998.

The developers for the new Quay now have 15 acres to develop condos, retail shops, offices parking and hotel rooms. They plan on demolishing the Quay in the first quarter of 2007.

You can read the entire Sarasota Herald article here.

Too bad I didn't buy a unit in El Vernona years ago. ;-)

Downtown Sarasota Lot Sold in Absolute Auction

A downtown Sarasota property once slated to become a luxury condominium sold Thursday for $555,000 at a no-reserve, open-air auction.

That price was nearly $200,000 less than the developer paid two years ago for the same piece of dirt and probably half what the land might have commanded during the peak of the real estate boom.

Read the rest of the article.