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Manatee-Sarasota
Business Observer Friday, Nov. 22, 2013 5 years ago

New York limited liability company buys 2.25-acre Longboat Key parcel

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A New York City buyer, operating as Paulinebea LLC, purchased a 2.25-acre vacant parcel on the Gulf of Mexico for $6 million.

BUYER: Paulinebea LLC, New York City
SELLER: Charles Bartlett as trustee under the land trust agreement
PROPERTY: 6271 and 6281 Gulf of Mexico Drive, Longboat Key
PRICE: $6 million
PREVIOUS PRICE: $1.38 million, July 1993
LAW FIRM ON DEED: Akerman Senterfitt, Miami

PLANS, DESCRIPTION: A New York City buyer, operating as Paulinebea LLC, purchased a 2.25-acre vacant parcel on the Gulf of Mexico for $6 million.

The sale is the highest price paid for a vacant gulf-front parcel in Sarasota and Manatee counties since 2004. Prior to the recent sale, there had only been two vacant residential parcels that sold for more than $3 million in that region this year. The first, a gulf-to-bay lot on Casey Key, sold for $4.6 million on May 1. The second was a bayfront lot in Sarasota's Oyster Bay neighborhood that sold for $3 million on July 30.

Michael Moulton of the Longboat Key South office of Michael Saunders & Co. represented the seller and Deborah Beacham and Beverly Alter of the Longboat Key South and Palmer Ranch offices of Michael Saunders & Co. represented the buyer.

“Parcels of this size that inhabit premier gulf-front locations are an increasingly rare commodity throughout Southwest Florida, much less on Longboat Key,” Michael Saunders, the brokerage's founder and CEO, says in a press release.

Beacham describes the site as a trophy property with an unusually large amount, 200 feet, of breach frontage. None of the brokers representing the buyer would comment on its future use.

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