6 Aug

Home in Boca Grande Sells for $9.5 Million

Home in Boca Grande Sells for $9.5 Million

Smith & Associates Real Estate Records The Highest Residential Home Sale In Company History

Demand and prices continue to rise for properties along the Gulf Coast of Florida.

Yesterday, Stephen Gay, Realtor for Smith & Associates Real Estate, sold a $9.5 million home in Boca Grande. The stunning Gulf front property is located at 4561 Shore Lane. This sale marks the third highest real estate transaction of the year for the Gulf coast of Florida and a record-breaking company sale for Smith.

“This may be the third highest sale on the Gulf this year, but it’s the only one that was sold for lot value,” said Bob Glaser, President and CEO of Smith & Associates Real Estate.

With 205 feet of beach frontage, the two-acre luxury property is one of the larger lots in Boca Grande. The seller, JJW&T Development Company, bought the Gulf-front property in 1980 for $197,500 and built the 9,580 square-foot home in 1981.

Smith & Associates Real Estate led the Tampa Bay real estate market in luxury homes sales in 2017, representing 16.5% of all luxury home sales. 

Glaser believes that his organization excels in the luxury real estate market because of their  neighborhood knowledge and dedication to serving their clients’ needs. "We have a company filled with seasoned real estate professionals like Stephen Gay, who know the market and are entrenched in the communities they serve."