In 2007, developers leveled Sarasota Quay (Photo below) to make way for condos, retail and hotel space on the 15-acre gateway property. Today the grassy waterfront parcel Photo at left) at the intersection of Tamiami Trail (US 41) and Fruitville Road (SR 780) fills the space between the Ritz-Carlton Sarasota and the Hyatt Regency Sarasota.
Now the Irish government has cleared the legal hurdles to repossess the vacant bayfront property and established its new ownership as National Asset Sarasota, LLC. The intial asking price will be $40 million, according to the Sarasota Herald-Tribune.
Given the post-recession resurgence in Southwest Florida, the time seems right for development of this desirable downtown location.
Please contact me for more information about how you or your synidicate can purchase this special property.
For more information about Sarasota & Her Islands, please contact Louis Wery.