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.
With 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.