Top condo sells in Sarasota for $5.6 million
Editor & Publisher
The sale of the penthouse at Beau Ciel for $5.6 million on Friday, June 29, marks the largest condo transaction in Downtown Sarasota since 2005.
And the excitement was strong following the sale at Coldwell Banker Previews on South Longboat Key where Realtor Maggie Hicks represented the buyer and Judy Kepecz-Hays represented the seller.
The 8,111 square-foot waterfront residence overlooks Sarasota Bay and sits on the northern edge of Downtown beside the arts district. It has 360-degree panoramic views and more than 2,500 square feet in terraces.
For Coldwell Previews Managing Broker Bob Stanley, it was a banner day.
“I am so proud of our team members to put together a sale of this magnitude. It is consistent with what we have seen this year. The upper end buyer sees the value and the seller is willing to move the price through strong negotiation. We are finding that the buyer and seller are redefining the values in this market,” said Stanley.
Stanley credits the knowledge and experience of both Hicks and Kepecz.
Hicks grew up and has worked her entire career on Longboat Key.
“Maggie Hicks has been a long-time top performing veteran of Longboat Key and brings tremendous skill and knowledge to her clients,” said Stanley.
For Kepecz, who was the number-1 salesperson for Coldwell Banker in the State of Florida in 2011, it was a blend of technique, technology and hard work.
“My colleague and I persevered, and everyone walked away happy,” Kepecz said.
Kepecz described how the sale came about:
“This Beau Ciel residence is considered one of the most beautiful in the area. The seller was a great person to work with and did not panic when the unit did not sell as quickly as he had hoped; he listened and trusted my expertise.”
In context, in the past seven years the following condominium sales have been made in and around Sarasota:
• In 2005 a Ritz Carlton residence sold for 5 million.
• In 2006 a Vizcaya sold for 5.45 million
• In 2008 an Orchid Beach residence sold for $6.9 million