Sarasota investors pay $1.75M for Cass Way Apartments

BUYER: Gayle Barrett and Russell McSwain, Sarasota
SELLER: Cass Way Apartments Inc.
PROPERTY: 2025 Cass Way, Sarasota
PRICE: $1.75 million
PREVIOUS PRICE: $710,000, July 1991
TITLE FIRM ON DEED: Integrity Title Services Inc., Sarasota

PLANS, DESCRIPTION:
Gayle Barrett and Russell McSwain purchased the 24-unit Cass Way Apartments for $1.75 million.

The price equated to $72,917 per unit. That figure is in line with the average price per unit for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.