Ohana Trustee LLC Sells Ohana Estate On Longboat Key For $19.75M
6633 Gulf of Mexico Drive
$19,750,000
$2,052/SF
Building Size
9,622 SF
Asset Type
Single Family
Closing
Jun 6, 2024
AI
A 2.7-acre Single Family property located at 6633 Gulf of Mexico Drive in Longboat Key was recently sold for $19,750,000. The property, known as Ohana Estate, features a total of 9,622 square feet with a price per square foot of $2,053. The sale set a new record in Manatee County, showcasing the demand and value of Longboat Key real estate.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $19,750,000
- Address: 6633 Gulf of Mexico Drive
- Market: Longboat Key
- Seller: William Seider, Michael Wilson, Patrick Ryskamp & Thomas B. Luzier - Ohana Trustee LLC
- Broker: Reid Murphy - Realty LBK Inc
- SF: 9,622
- PPSF: $2,053
The deal was facilitated by Reid Murphy from Realty LBK Inc, representing the sellers, Ohana Trustee LLC. The sale of the Ohana Estate not only achieved a significant price but also highlighted the unique Hawaiian-themed design and luxurious amenities present on the property, reflecting the evolving preferences of buyers in the Longboat Key market.
Players
Longboat Key Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93