Exotic and extremely private bay front property on the market for the first time in 40 years. In fact, this is only the third time it’s been available in 100 years. Travel back in time to find ancient oaks and large palms, Banyans, and cedars. It’s an idyllic paradise reminding us of why people have come to these shores for millennia. Even the beachfront appears unadulterated as do several others along Sarasota’s north shore. Although this is direct waterfront, most of the land is not in the flood zone creating many possibilities for new structures on or near grade. What is most unique is the 444-foot lot depth. This is almost 4 times that of other bayfront parcels being redeveloped in the area. This extreme distance provides complete privacy from Bay Shore Road and with each adjacent property a multi-acre estate, the feeling of spaciousness and seclusion is complete. Leave the world behind on the long, winding shell drive through tree canopy and lush vegetation. At “the end of the road” is the original homesite on a small bluff directly on and overlooking Sarasota Bay. Your views are of Longboat and Lido Key and out New Pass to the Gulf of Mexico. Looking south you see our bustling little city of Sarasota and the John Ringling Bridge. Enjoy sea breezes in the afternoon and sunsets all year round. The original home on property evokes a bygone era but land values, building codes and FEMA regulations point toward new construction. A parcel like this is an architects dream providing the size necessary to create what anyone might want, elevation allowing cascading terraces down to the waterfront and multiple, potential “footprints” for accessory dwellings, accessory structures and more. Bay Shore Road has become an eclectic location for the grandest homes in Sarasota. This has led to sales over 10 million dollars and have exceeded 15 million. But you could not put a price on the most spectacular neighbor, Ca’ d Zan. John Ringling’s gilded Venetian palace anchors the neighborhood to the north and downtown Sarasota is just 2 miles south. Other nearby cultural & educational institutions include the Ringling Museum of Art, the Asolo Theater of Performing Arts, the Sarasota Ballet, the Ringling College of Art & Design and our newest amenity, The Bay Park Conservancy redeveloping 53 acres of City waterfront into a world class public park.
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $3,600,000 | $3,600,000 | $3,600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
Monthly Tax Payment | $820 | $820 | $820 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $23,350 | $23,051 | $31,608 |
Total Monthly Payment | $24,295 | $23,996 | $32,553 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.