See inside: Harbor Acres estate enters Sarasota real estate market at record high price
The most expensive residential listing for sale in Sarasota was put on the market on Monday for $33.8 million in the Harbor Acres neighborhood — $11.8 million more than the second-most expensive single-family home on the market.
The property, at 1233 Hillview Dr., was listed by Michael Saunders & Co. Realtor Barbara Sassen May and includes 11,275 square feet with eight bedrooms, eight full bathrooms and four half-baths in the bayfront estate on slightly less than an acre.
The Sarasota luxury real estate market has seen a return to normalcy after record-setting years in 2021 and 2022, when home prices appreciated faster in Sarasota-Manatee than almost any other area in the nation.
However, sales have been slower in 2023 as the post-pandemic buying frenzy cooled, according to real estate agents in the region.
Last year, a Harbor Acres home sold for $17.5 million, the highest recorded sale in the two-county area for a single-family home, according to Stellar MLS data.
Despite the market cooling, the recently listed property could sell for more than last year's record given that the previous record sale occurred on a property where the home was built in 2005.
The contender — currently listed for almost double the current record — at 1233 Hillwood Dr. was built last summer.
"Completed in July 2022, the modern British West Indies-style residence was designed by Naples-based Stofft Cooney Architects, built by Perrone Construction of Sarasota along with remarkably landscaped grounds designed by Stephen Hazeltine of Venice," marketing material from Michael Saunders & Co. stated.
Sassen May, the Realtor marketing the property, said the current owners did not buy the house to build a speculative residential project, but instead had plans to live in the house.
"The attention to detail in this property is second to none," she said. "Every ceiling has architectural features, beautiful wood trim. I've shown the property to a few Realtors and everybody says the same thing: This property is spectacular."
Sassen May said the Harbor Acres neighborhood is highly sought after because it is within walking distance to downtown and has a feel that sometimes can be lacking in luxury areas.
"It's a true neighborhood," she said.
While the list price may raise some eyebrows, Sassen May notes that Sarasota still has catching up to do with other Florida destinations known for their pricy real estate, while also pointing to increases in cost of construction and labor.
"You couldn't build that listing today for that price," she said. "And you couldn't find an available lot."
While the Harbor Acres estate is listed significantly higher than any other already constructed residential property, it is not the first time a listing has cracked $30 million as a Siesta Key property has been listed for sale that has not yet been constructed. Mark Coppens, a Realtor with Living Vouge listed the property at 4266 Higel Avenue for $32.5 million about nine months ago, according to Redfin.com.
The Harbor Acres property is owned by a limited liability company based in Atlanta, Georgia, called SRQ Hillview Holdings LLC.
Cross State Real Estate Services LLC, according to the 2022 deed, transferred the property to the Atlanta-based company for $1 after purchasing it in 2019 from Margaret P. Wise for $9.85 million.
The potential purchaser will also inherit a hefty tax bill, as the tax notice for the property puts its bill at $192,708, according to the Sarasota County Property Appraiser's website.
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This article originally appeared on Sarasota Herald-Tribune: Sarasota waterfront estate sets record list price at $33.8 million
