Top 10 Best Downtown Sarasota Condo Buys in 2010 Part 3 of 3
Posted from Starbucks on the Circle.....
Read part 1 of this post
Read part 2 of this post
Best Deals Continued (5 through 1)......
5. Hudson Crossing – 3BR/3BA 2,440 s.f. sold for 900,000 ($369 per s.f.) – built in 2007 – listed for 1,099,000 – 668 days to contract, 57 days to contract at the last listed price.
This luxury residence sold for nearly $300,000 less than the previous low sale. The previous owner paid $1,558,000 in December 2007 and apparently never lived in the home. Two other similar sized residences in Hudson Crossing sold in 2010 for $1,500,000 and $1,560,000. If you want a downtown luxury condominium with a boat slip in your back yard, it’s either Hudson Crossing or something on Golden Gate Point. Hudson Crossing offers a more protected dock, located off the bay inside Hudson Bayou.
4. Beau Ciel – 2BR/2.5BA 2,335 s.f. sold for $799,000 ($342 per s.f.) – built in 2003 – listed for $799,000 356 days to contract total, 6 days to contract at the last listed price.
Only 6 Beau Ciel residences has sold with sales prices lower than this transaction. All six sales, ranging from $660,000 to $796,000, occurred mid 2004 and earlier. Five other 2010 sales closed at prices between $950,000 and $1,500,000 ($390 per s.f. average). The subject residence is on the ninth floor with unobstructed bay views. Located west of the Trail on direct bay front property, few downtown buildings offer views that compare with Beau Ciel.
3. Marina Tower – 2BR/2.5BA 1,940 s.f. sold for $627,000 ($323 per s.f.) – built in 2001 – listed for $675,000 – 14 days to contract.
This transaction was the lowest sale price since 2003 and the lowest sales price per square foot ever. Only 2 other Marina Tower residences ever sold for less and both were smaller. Since 2003, only 2 other residences have sold for under $1,000,000 ($839,000 in 2007 and $975,000 in 2004). With great bay views, endless list of amenities, and downtown convenience, Marina Tower is one of downtown Sarasota’s most prestigious addresses.
2. Sarabande – 3BR/2.5BA 2,761 s.f. sold for 975,000 ($353/s.f.) Built in 1998 – Listed at $997,500 – 14 days to contract
This sale was the third lowest sale price per square foot in Sarabande since 2002 and one of only 2 sales under $1,000,000, regardless of size, since 2003. (The only other sale under $1,000,000 since 2003 also occurred in 2010 for $800,000 but the residence was much smaller at only 1,774 s.f. , giving it honorable mention status). Sarabande is an awesome building with great city and bay views from virtually every residence and within strolling distance of nearly every downtown attraction.
1. Ritz Tower Residences – 3BR/3BA 2,985 s.f. sold for $715,000 ($240/s.f.) Built in 2003 – A bank-owned listing (foreclosure) that was listed for $699,900 – 12 Days to contract.
This was about half the average absolute price and price per square foot paid of the 3 other Tower sales during 2010. The previous owner (prior to the bank foreclosing) paid $1,390,000 in August 2005. The original (new construction) buyer paid $1,050,000 in June 2003. This buyer will join 2 others for the distinction of being the only people to pay less than $1,000,000 for anything in Tower Residences ever and only about 15 people in to have ever paid less than $1,000,000 in Sarasota for anything with the name Ritz in front of it (anything not sold at Publix, anyway).