Preselling of Echelon on Palm, a planned 18-story condominium in downtown Sarasota, has been warmly received in the luxury home market. The project’s developer, the Ronto Group of Naples, reported recently that nine out of the 17 units set for this condominium have been reserved as of March 2015, only a month after Echelon was launched in the market.
The construction of this condominium is expected to begin in the summer of 2015, as Ronto earlier said that it wants to presell at least half of the planned residences before it commence building. The company projected that construction can be finished in about 16 months, thus further enriching the inventory of luxury Sarasota condos for sale.
Part of Echelon’s site is occupied by the vintage La Palme Royale bed and breakfast at South Palm Avenue which Ronto acquired in January 2015. The Naples developer purchased an adjoining lot in Gulf Stream Avenue in March to create a one-third acre location for Echelon. A sales office has been opened at the project site.
Project cost is estimated at approximately $50 million. Set for 18 floors, this condominium will mainly consist of 15 full-floor units with 4,155 square feet each. It will also feature a one-half floor condo having a floor area of 3,079 square feet, in addition to a two-level townhouse unit with a floor space of 4,381 square feet. Initial prices for Echelon units range from $2.1 million to $3.975 million.
Exciting features make these units the quintessential examples of upscale Sarasota condos for sale. Each unit will have a private elevator entry plus garage parking. Terraces have been designed for all sides of the condominium building, thus providing would-be residents spectacular views of the bay and the city’s skyline.
The Echelon’s third floor will house luxurious amenities including a spacious club room with a service garage and a fitness center with modern circuit training equipment. Steps outside, the activity areas shift to a yoga terrace, an eye-pleasing pool with a spa and a deck featuring lounge seating, al fresco grill and bar.
Echelon is the first Sarasota venture for Ronto, which was founded by Jack Solomon in 1967 and now has his son co-manage the operations. The Naples developer, as per its website, has built more than 10,000 high-rise condo units, 2,000 single-family homes, a hotel and several shopping plazas.
Echelon is but one of the 13-or-so condo projects either on the drawing boards or where construction is ongoing and already making an inventory impact on Sarasota condos for sale. One of them, the 18-unit, 18-story Jewel on Main Street to be built at an estimated cost of $19 million is already almost sold out. As of March 2015, one of its penthouses is the only resale listing in this mixed use, high end residential and retail tower located at the corner of Main Street and Palm Avenue. This penthouse has a total floor area of 4,700 square feet and a $4 million price tag.
The choices and price ranges are more plentiful at the $120 million Vue Sarasota Bay luxury condominium rising at the corner of Gulfstream Avenue and U.S. 41. Vue condo prices start approximately at the $800s for units having floor plans of about 1,640 square feet designed with either one or two bedrooms.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>