Marcus & Millichap Sells 28-Unit Waterfront Multifamily At 1860-1872 Phillippi Shores Drive For $4.9M

The transaction involved a 28-unit renovated waterfront apartment community located at 1860-1872 Phillippi Shores Drive in Sarasota, sold for $4,900,000. The property spans 1.61 acres, with a total square footage of 14,700, equating to a price per unit of $175,000 and a price per square foot of $333.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,900,000
• Units: 28
• Square Footage: 14,700
• Price Per Unit: $175,000
• Price Per Square Foot: $333
• Date of Sale: 10/20/2025
• Market: Sarasota
• Acres: 1.61

Jason Hague, Ned Roberts, and Sam Ferguson from Marcus & Millichap represented both the buyer and seller in this transaction, marking the team's third sale of the property, Phillippi Square.