Ritz-Carlton Condominium Sale Sets New Benchmark For 2009

Posted by Tom Heatherman — March 11, 2009

SARASOTA, Florida—(March 11, 2009)—In the most significant sale of its type since August 2008, an 18th floor penthouse above the Ritz-Carlton Hotel—located at 1111 Ritz-Carlton Drive—sold on Monday, March 9th for $3,300,000.  Listed on January 26th for $3,995,000, the condominium sold for 90% of its original list price and was bound to contract in a mere 16 days.  Representing the seller was Linda Driggs of the Main Street office of Michael Saunders & Company.  The buyer was represented by Prudential Palms Realty.

ritzcarlton1802With more than 5,000 square feet of living space, the penthouse includes four bedroom suites, dramatic entry foyer, spacious living room and formal dining room; eat-in kitchen and den/library.  Incomparable sunset views over the Gulf of Mexico, along with stylishly-appointed interiors and the finest in amenities and concierge services offered by The Ritz-Carlton Hotel, contributed to the property’s exceedingly short stay on the market.

Monday’s sale was the highest for a luxury condominium since August of 2008, when another penthouse in the same building sold for $3.6 million.  In that transaction, Lyn Wiley—of the Main Street office of Michael Saunders & Company—represented the seller; Beth Afflebach and Joan Dickinson, with the Ritz-Carlton office of Michael Saunders & Company, represented the buyer.



Share this post

Search Press Releases

Recent Blog Posts

 Breathtaking In Bella Vista!

Echo Fine Properties, Echo Fine Properties — Jul 03

Savannah and Sea Island, GA Listings Selected as Finalists in HGTV Ultimate H...

Staci Donegan, Seabolt Real Estate — Jul 03

Real Estate Market Trends

Kentwood Real Estate, Kentwood Real Estate — Jul 02

Welcome to 273 Ridge Road

Higbie Maxon Agney, Inc. Realtors, Higbie Maxon Agney, Inc. Realtors — Jun 30

Economic Update for Week Ending June 27, 2020

Tina Lucarelli, Rodeo Realty — Jun 27