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605 South Gulfstream Avenue

Dona & Sam Scott III Acquire Condo Unit 17 In Sarasota For $11.35M
SOLDCondo

Dona & Sam Scott III Acquire Condo Unit 17 In Sarasota For $11.35M

605 South Gulfstream Avenue

$11,350,000

$1,938/SF

Building Size

5,855 SF

Asset Type

Condo

Closing

May 20, 2024

AI

The condo located at 605 South Gulfstream Avenue Unit 17 in Sarasota was sold for $11,350,000. Spanning 5,855 square feet, the unit was purchased by Dona & Sam Scott III from sellers Curtis Jordan & Paige Petersen. The price per square foot for this transaction was $1,939, marking it as the highest downtown sale in Sarasota to date. Curtis Jordan and Paige Petersen had acquired the condo in 2021 for $7.2 million before selling it.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $11,350,000
  • Address: 605 South Gulfstream Avenue Unit 17
  • Market: Sarasota

Kathleen Callender of Florida Capital Realty represented the buyers, Dona & Sam Scott III, while Lisa Morris from Douglas Elliman was the seller's representative, assisting Curtis Jordan & Paige Petersen in the deal. Post-sale, Curtis Jordan and Paige Petersen acquired a $9.5 million residence in Indian Beach, marking the most expensive transaction in the area since 2006.

Players

Lisa Morris

Douglas Elliman

Broker

$45.2M

vol

4 deals

Broker

Sarasota Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.40%

Cash-on-Cash

-0.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93