Two Great Downtown Sarasota Condos
I sold a 1350 Main residence in downtown Sarasota this month and as a result showed a number of downtown beauties priced between 400,000 and 500,000. I thought I would share with you a couple of other great buys my customer and I saw:
16th Floor of the Renaissance SW corner
1350 Main - 7th floor
Click on the links to see pictures, tours, and information.
Both residences are great places to live and worth a look if you interested in downtown condos in this price range. They also illustrate the premium that the market puts on being downtown.
The residences are essentially priced the same at 475k and 479k, respectively. I think most people would say that the interior and view of the Renaissance residence is hands down better. It has more upgrades and offers nearly 180 degree views of Sarasota Bay, starting with Big Pass to the south, then the Ringling Bridge, and finally west and north up the ICW towards Longboat Key and Anna Maria Island. It is a fabulous place. It is also about 10% larger than the 1350 residence.
The most important difference is the location of each building. The Renaissance is about 3/4 of a mile from the heart of downtown. 1350 Main, with its front door at the intersection of Palm and Main, is at center of downtown - there is no finer location. A residence of similar size, floor, and view at 1350 would be priced between $650,000 and $700,000.
Another interesting thing is that my buyer was able to find financing for his purchase even though the condominium was purchased as an investment. In talking with his loan officer, the bank could have made the loan with 25% down. Getting financing for a condo is tough and the further you move away from “primary residence” use, the tougher it gets. Finding financing for an investment condo is the toughest and would have been near impossible 6 months ago.