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OHANA ESTATE BECOMES HIGHEST EVER SINGLE-FAMILY SALE FOR NORTH END OF LONGBOAT KEY

The Guy Peterson-Designed Compound Closed Friday for $11.4 Million.

Rinat Sikdar, Realtor® of Michael Saunders & Company Represented the Out-Of-Town Buyers

A Polynesian-inspired, luxury compound located at 6633 Gulf of Mexico Drive and known locally as “Ohana” sold for $11.4 million last Friday. Designed by famed architect Guy Peterson, it now holds the title for the highest sale ever on the northern end of Longboat Key and the highest luxury sale since October 2014 across the Sarasota, Manatee and Charlotte counties (according to MLS records). Rinat Sikdar, Realtor® of Michael Saunders & Company represented the out-of-town buyers. The sale is the latest of many 2019 ultra-luxury transactions that have both set new benchmarks for the region while showing its strength among the nation’s affluent as a primary and secondary-home market.

“Rinat demonstrated the true value Realtors® provide with his comprehensive understanding of current Longboat Key inventory, market behavior and the lifestyle unique to Ohana that ultimately made this a successful purchase for the buyer,” said Drayton Saunders, President of Michael Saunders & Company. “Benchmark sales are exciting and we are pleased to have played an integral role in more than half of the significant purchases in what has been an exceptional year for ultra-luxury real estate.”

The 9,266 sqft estate set on 2.57 beachfront acres originally came to market at $22 million in December 2013. “Ohana is definitely one of the more recognizable beachfront estates on the West Coast of Florida,” said Rinat Sikdar. “The sheer size of the site, quality of craftsmanship and unique design make it very special. When the opportunity presented itself to purchase the estate for nearly 50% of the original price and cost of construction, the buyers couldn’t pass it up.”

Thus far in 2019, there have been 49 sales over $3 million across the Sarasota, Manatee and Charlotte counties. Michael Saunders & Company has been the listing broker in 19 transactions and the selling broker in 17 transactions and has a total luxury market share of 37% in the $3 million+ category.

Rinat Sikdar works out of the Michael Saunders & Company Longboat Key South office at 440 Gulf of Mexico Drive and can be reached for comment at 941.993.9292.