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Casey Key Sale is Highest Real Estate Purchase on the Island in 10 Years

Highest Gulf-Front Sale and Third Highest Luxury Sale of 2019 in Sarasota County

Michael Saunders & Company’s Deborah Beacham, Realtor®, CIPS, CRS Represented the Sellers

Michael Saunders & Company’s Nora Johnson, Realtor® and Klaus Lang, Realtor®, CIPS Represented the Buyers

A George Merlin-designed estate at 1011 Casey Key Road closed for $8.75 million last week, becoming the highest Gulf-front sale of 2019 for Sarasota County and the highest for the 8-mile island since 2009. Michael Saunders & Company agents managed both sides of the benchmark sale with Deborah Beacham, Realtor®, CIPS, CRS representing the sellers and Nora Johnson, Realtor® and Klaus Lang, Realtor®, CIPS representing the buyers.

Known as Villa de Paradiso, the gated estate is sited on 200 feet of beachfront and features over 10,000 square feet of living area comprised of six bedroom suites, a gourmet kitchen, two-story great room, numerous balconies, home theater, ground-level fitness center and eight-car garage. Outdoor areas include private beachfront, an oversized wraparound terrace, infinity-edge pool, three-hole putting green, lush gardens and summer kitchen. Deborah Beacham is no stranger to these remarkable amenities, having represented Casey Key’s most prestigious properties in her nearly two decades of luxury real estate on Florida’s Gulf Coast – in some cases two or three times. “Casey Key is known as one of the most exclusive areas of Sarasota due to its low density, no traffic lights and no condominium towers,” said Beacham. “People who gravitate here have looked in Naples, as well as the East Coast of Florida, and prices in those areas for beachfront, bayfront, or gulf-to-bayfront are staggering when compared to the value here – that rings true for Longboat Key and Siesta Key as well.”

What is more surprising to the luxury specialist is the recent increase in luxury activity this year. As of late November, the island has seen 7 sales over $3 million, 6 of which involved Beacham. “What is new this year, are the multiple offers being made. We have not seen this kind of activity in years – if ever,” said Beacham. “I personally have been involved in three multiple offer situations [in 2019], one of which was for a $7 million-dollar listing. That points to a lack of premium properties with the frontage and newer-built homes that buyers are seeking – especially on the limited valuable, waterfront land.”

Buyers who seek Casey Key’s seclusion are both from typical feeder markets with high state taxes – such as Ohio, Illinois and New Jersey – as well as locals who love the area and are looking for an opportunity to live there full or part-time. The latter is the case for the buyers of 1011 Casey Key Road who were represented by Nora Johnson and Klaus Lang. “I’ve worked with them for many years to find the perfect property specifically on Casey Key,” said Lang. “This magnificent estate met all of their requirements and will be an exceptional retreat for years to come.”

In 2019, there have been 72 sales over $3 million across the Sarasota, Manatee and Charlotte counties. Michael Saunders & Company has been the listing broker in 25 transactions, the selling broker in 23 transactions and has a total luxury market share of 33% in the $3 million+ category.

Deborah Beacham works out of the Michael Saunders & Company Main Street Sarasota office at 1605 Main Street. She also represented the buyers and sellers for the sale of 2016 Casey Key Road, the estate that held the record for the highest Gulf-to-Bay purchase in Sarasota County since 2014 until the sale of 1011 Casey Key Road. For additional Casey Key market information she can be reached at 941.376.2688.

Klaus Lang works out of the Michael Saunders & Company Longboat Key South office at 440 Gulf of Mexico Drive. This is the second ultra-high end, Gulf-front sale for the Johnson Lang Team this year, also bringing the buyer to a $6 million estate in Sanderling Club. Klaus can be reached for comment at 941.320.1223.

Nora Johnson works out of the Michael Saunders & Company Main Street Sarasota office at 1605 Main Street. This is the second ultra-high end, Gulf-front sale for the Johnson Lang Team this year, also bringing the buyer to a $6 million estate in Sanderling Club. Nora can be reached for comment at 941.809.1700.