Record-breaking $11.15M Sale Of Sarasota Penthouse At 605 South Gulfstream Avenue
605 S Gulfstream Ave Ph 18 Sarasota, FL 34236, USA
$11,150,000
$1,904/SF
Building Size
5,855 SF
Asset Type
Condo
Closing
Jun 26, 2023
About this deal
AI
A penthouse in Sarasota has been sold for a record-breaking $11.15 million, making it the most expensive condominium ever sold in Sarasota and Manatee counties. The luxurious property, located in the Epoch building at 605 South Gulfstream Avenue, features 6,000 square feet of indoor living space and a 1,700-square-foot private sky lounge terrace with various amenities.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $11,150,000
- Address: 605 South Gulfstream Avenue Ph 18
- Market: Sarasota
The buyer of the penthouse is Richard J. Henley and Susan L. Davis, represented by Kelly Baldwin from Coldwell Banker Realty. The seller is Alan Town, while the seller's representative is Moriah Taliaferro from Premier Sotheby's International Realty. The penthouse has a total area of 5,855 square feet, resulting in a price per square foot of $1,904.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.42%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93