Ritz-Carlton Condominium Sale Sets New Benchmark for 2009
Sarasota, Fla.
In the most significant sale of its type since August 2008, an 18th-floor penthouse above the Ritz-Carlton Hotel—located at 1111 Ritz-Carlton Drive—sold on Monday, March 9th for $3.3 million. Listed on January 26th for $3.995 million, the condominium sold for 90 percent of its original list price and was bound to contract in a mere 16 days. Representing the seller was Linda Driggs of the Main Street office of Michael Saunders & Company. The buyer was represented by Prudential Palms Realty.
With more than 5,000 square feet of living space, the penthouse includes four bedroom suites, a dramatic entry foyer, spacious living room and formal dining room, an eat-in kitchen and a den/library. Incomparable sunset views over the Gulf of Mexico, along with stylishly appointed interiors and the finest in amenities and concierge services offered by The Ritz-Carlton Hotel, contributed to the property’s exceedingly short stay on the market.
Monday’s sale was the highest for a luxury condominium since August of 2008, when another penthouse in the same building sold for $3.6 million. In that transaction, Lyn Wiley—of the Main Street office of Michael Saunders & Company—represented the seller; Beth Afflebach and Joan Dickinson, with the Ritz-Carlton office of Michael Saunders & Company, represented the buyer.
– Sarah Binder
