51-year-old Sarasota apartment building has sold

By Louis Llovio
| 8:00 a.m. July 18, 2026
| 2 Free Articles Remaining!

Echo on Eighth in Sarasota sold for $4.85 million.

Manatee-Sarasota

Echo on Eighth, an apartment building at 785 N. Osprey Ave. across from Gillespie Park, has been sold.

The buyer, Hewitt Real Estate Holdings, paid $4.85 million, says Marcus & Millichap, the commercial real estate firm that announced the sale. According to Sarasota County property records it was previously owned by Insula Cos., which paid $6 million for the community in 2022.

Echo on Eighth is a 23-unit apartment building totaling 14,490 rentable square feet. The two-story building was built in 1975 and sits on 0.92 acres.

Marcus & Millichap says the previous owner spent nearly $1.3 million on capital improvements since 2022 on a new roof, windows, a parking lot, electrical systems and plumbing. All the units have been fully renovated and come with stackable washers and dryers.

The firm’s Jason Hague and Ned Roberts represented Insula in the sale.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.