Demand Perks Up for Large Condo Units


This may be the best time to engage the real estate market for investors whose property portfolios include larger-sized condo units. Demand appears on the uptick for these residential types, especially for those within or close to downtown Sarasota.

One good indication of the rising market interest in larger Sarasota condos for sale is the generous square footages for current condominium construction projects within or near the city enter. Many of these new developments primarily feature units with floor areas exceeding 2,000 square feet, with a good number of them set to occupy an entire floor of a building.

Choices at the new Sansara

Demand Perks Up for Large Condo Units

Common too are downtown condos coming on stream with just two units per level. The Sansara is one such delightful choice for spacious luxury Sarasota condos for sale. Planned for 17 condo units, this new downtown development is rising in the much coveted Burns Court area.

Sitting on a prime site at the southwest corner of Ringling Boulevard and Pineapple Avenue, Sansara’s residences now available in the market are designed as three-bedroom units with floor areas ranging from 2,264 to 2,773 square feet, priced from about $1.3 million up to nearly $2 million.

Exclusive AQUA Condos

The square footages and price points of Sarasota condos for sale level up further at the AQUA, a new direct waterfront condo development at the Golden Gate Point Peninsula, a short distance northwest of the downtown. Just eight units, each occupying an entire floor, have been designed for this condominium.

The floor areas of AQUA units range from 3,425 to almost 5,700 square feet, mostly featuring three bedrooms and four baths. Their prices start from about $2.9 million and top at close to $5.3 million.

Pent-up demand

The developers of these new Sarasota downtown condos for sale appear riding on a pent-up demand for larger and pricier units. At the 18-story Jewel soon to be completed on Main Street, all its units have been sold, except for one of its penthouses which is already on the resale market. Flaunting a floor area of 4,700 square feet, this penthouse has an asking price of $4 million.

Even at older condos, sales of large units can be brisk, with some available properties receiving multiple offers. In December 2014, for instance, a three-bedroom unit at 1350 Main with a 3,251-square-foot floor area and an asking price approaching $2.2 million was sold after only six days in the market. In the previous month, another unit in this condominium with a floor area of 2,165 square feet, also featuring three bedrooms and a listed price of $1.35 million, found a buyer after just a little over two weeks in the market.

This brisk market activity appears encouraging even to owners of smaller units in this condominium. Just in April 2015, a two-bedroom unit at 1350 Main with a floor area of 1,336 square feet was listed among Sarasota condos for sale at a listed price of $659,000. What this condo may lack in space is more than made up by the rich amenities within the property which include a pool, club/conference rooms, fitness facilities, 24-hour concierge, assigned parking space, private storage, and onsite management.