Seaward Development owner, partner developing South Palm Residences

BUYER: South Palm Development LLC (manager: Seaward Development LLC and Thirty-Four Seventy-Five LLC), Sarasota
SELLER: Thirty-Four Seventy-Five LLC
PROPERTY: 711 S. Palm Ave., Sarasota
PRICE: $875,000
PREVIOUS PRICE: $1.75 million, August 2014
LAW FIRM ON DEED: Berlin Patten PLLC, Sarasota

PLANS, DESCRIPTION:
Broker and developer Patrick DiPinto III purchased half an interest in a 27,079-square-foot parcel on Palm Avenue for $875,000.

DiPinto, who manages Seaward Development, is joining his business partner, David Hargraves of Rhode Island, in owning the site, which they plan to develop. The project, called South Palm Residences, calls for 15 residential units in fours levels above covered parking. Amenities will include a swimming pool and fitness room.