Golden Gate Point large waterfront deal dead
Developer pulls out of deal
By MICHAEL POLLICK
michael.pollick@heraldtribune.com
SARASOTA -- The city's biggest waterfront land deal is dead in the water.
Parker Capital LLC has called off its $50 million takeover of Pier 550 on Golden Gate Point only three months after signing on 49 owners at the prime waterfront site.
The colorful deal, which captivated real estate watchers with its $20-million-per-acre price tag, was negotiated during the summer by Vicki Mann, a Re/Max Suncoast Realty Realtor with her own vivid history. Mann left her native Britain without paying a sizeable, headline-grabbing legal judgment to a homeowner who sued her over a waterfront condo sale she handled.
But don't count Pier 550 out of play in the sometimes insane world of Southwest Florida real estate.
"It is unfortunate that this buyer decided not to follow through," said Sheryl Edwards, a Sarasota real estate attorney representing many of the sellers. "The property is certainly available to another potential buyer."
The cancellation letter from Parker is brief and makes no mention of Mann or the Herald-Tribune articles that delineated her flight.
The letter says Parker representatives have inspected and analyzed Pier 550 and determined that it's simply not suitable for the intended use.
View the rest of the article here:
http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20051103/BUSINESS/511030461/1060/INDEX01
I just did a quick search on the Sarasota MLS for condos over $2,000,000 for sale. As of November 3, 2005 there are 119 of them actively for sale. These do not include the new construction not listed on MLS. I would be a little nervous with 66 condos for sale with sales prices over $3,000,000. However, I have been wrong before. ;-)
By MICHAEL POLLICK
michael.pollick@heraldtribune.com
SARASOTA -- The city's biggest waterfront land deal is dead in the water.
Parker Capital LLC has called off its $50 million takeover of Pier 550 on Golden Gate Point only three months after signing on 49 owners at the prime waterfront site.
The colorful deal, which captivated real estate watchers with its $20-million-per-acre price tag, was negotiated during the summer by Vicki Mann, a Re/Max Suncoast Realty Realtor with her own vivid history. Mann left her native Britain without paying a sizeable, headline-grabbing legal judgment to a homeowner who sued her over a waterfront condo sale she handled.
But don't count Pier 550 out of play in the sometimes insane world of Southwest Florida real estate.
"It is unfortunate that this buyer decided not to follow through," said Sheryl Edwards, a Sarasota real estate attorney representing many of the sellers. "The property is certainly available to another potential buyer."
The cancellation letter from Parker is brief and makes no mention of Mann or the Herald-Tribune articles that delineated her flight.
The letter says Parker representatives have inspected and analyzed Pier 550 and determined that it's simply not suitable for the intended use.
View the rest of the article here:
http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20051103/BUSINESS/511030461/1060/INDEX01
I just did a quick search on the Sarasota MLS for condos over $2,000,000 for sale. As of November 3, 2005 there are 119 of them actively for sale. These do not include the new construction not listed on MLS. I would be a little nervous with 66 condos for sale with sales prices over $3,000,000. However, I have been wrong before. ;-)
posted by Marc Rasmussen at
9:41 AM
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