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Entrepreneur Randy Nicolau, former president of Playboy and founder of office furniture firm Poppin, has listed a waterfront home on Siesta Key for $19.95 million.
The property, 5151 Jungle Plum Road in the Hidden Harbor community on the Key, is undergoing extensive renovations, according to a statement from the listing agent, Joel Schemmel of Premier Sotheby’s International Realty’s Downtown Sarasota office. Nicolau initially purchased the property as “his personal retreat,” a Premier Sotheby’s spokeswoman says, but saw “the value in the Sarasota real estate market and has decided to sell as an initial development project in this market.”
Renovations of the 8,165-square-foot home, which has six bedrooms, six full bathrooms and two partial bathrooms, are expected to be complete by June. Nicolau, along with Jennifer Nicolau, of Westhampton, New York, acquired the two properties at 5151 Jungle Plum Road in December 2018 for $2.5 million, according to Sarasota County property records.
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