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BUYER: West Gulf Waterfront Properties LLC (Joel Kronfeld and Fred Fielding), Sanibel
SELLER: Karen Giannelli as Chapter-11 trustee of the Mark and Mary Sobel
PROPERTY: 3951 West Gulf Drive, Sanibel
PRICE: $4.65 million
PREVIOUS PRICE: $4.25 million, May 2003
BUYER: West Gulf Waterfront Properties LLC (Joel Kronfeld and Fred Fielding), Sanibel
SELLER: Karen Giannelli as Chapter-11 trustee of the Mark and Mary Sobel
PROPERTY: 4015 West Gulf Drive, Sanibel
PRICE: $4.65 million
PREVIOUS PRICE: $5 million, June 2004
LAW FIRM ON DEED: Russell Bershad Esq.,
PLANS, DESCRIPTION: Sanibel developer Joel Kronfeld teamed up with President George W. Bush's last White House counsel, Fred Fielding of Sanibel, to purchase two Sanibel landmarks — the adjoining Mitchell's Sandcastles and 4015 Resorts waterfront resorts for $9.3 million.
Kronfeld confirmed the sale and said he and his partner plan to continue to make improvements to the resorts.
The Lee County Property Appraiser reports that the 12,431-square-foot Mitchell's Sandcastles has 21 bedrooms and 23 bathrooms while the 4015 Resorts is listed as 9,372 square feet and houses 13 bedrooms and 12 bathrooms.
Kronfeld is best known as the co-developer of the Central Cape Business Park at 1480 and 1490 Pine Island Road N.E. in Cape Coral.
The park houses a total of 77,040 square feet of office space in eight buildings.
Fielding is now a partner in the large international law firm of Morgan Lewis, in Washington, D.C.
The purchase entity West Gulf Waterfront Properties LLC mortgaged the property to Sanibel Captiva Community Bank for $8 million.
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