Luxury condo developer closes on $37M deal for downtown Sarasota property

A development partnership seeking to build a luxury condo tower in downtown Sarasota has closed on the purchase of the land for $37 million. 

The purchase, while approval obstacles remain for the project, dubbed One Park, is of blocks 1 and 9 in The Quay. 

There, national investment, development, and asset management firm Property Markets Group and Sarasota-based financial education company Moneyshow plan to develop an 18-story luxury condominium tower at the intersection of Boulevard of the Arts and Quay Commons.