Under contract-accepting backup offers. Situated on a superbly landscaped 1. 58-acre lot with over 200 feet of bay frontage, this 5, 700-square-foot home in sought-after Indian Beach/Sapphire Shores was meticulously reimagined while retaining its historic charm during a three-year renovation completed in 2020 by builder Bruce Saba. Originally built in 1940, the two-story 4-bedroom, 5. 5-bathroom home boasts sweeping views of Sarasota Bay, sturdy Hardie plank lap siding, a durable recycled rubber roof, hurricane impact windows & glass doors, & steel gutters. A white wall with a private entry gate welcomes visitors to the estate’s expansive paver motor court & porte cochere, providing convenient access to the front entry with an ornate door knocker. Large windows & French doors throughout the residence showcase scenic bay views, captivating gardens, manicured landscaping & mature trees, including a massive ficus tree in the backyard. The thoughtfully curated interior features walnut flooring, exquisite millwork, 12-inch baseboards, stunning lighting fixtures & distinctive décor. Six accordion glass doors in the voluminous formal living room/dining room open to a long covered bayfront terrace & spacious open patio overlooking the sprawling backyard, bay & Longboat Key. Adjacent to the terrace is a sleek tiled pool & spa with a waterfall & outdoor bathroom. The enormous outdoor living space is ideal for entertaining, family activities, pets & viewing sunsets along a pathway beside a small sandy beach & the water. French doors from the patio & pool offer access to a zebra-themed room, which could be used as a pool cabana, den, or formal dining room, & a dazzling kitchen with marble countertops & island/breakfast bar, abundant white cabinetry, eight-burner Wolf range, Wolf convection oven & separate paneled Sub-Zero refrigerator, freezer, & wine cooler. The kitchen also has eye-catching antique wooden doors for separation from the dining area if desired. The main level also has a family room with a striking stone fireplace and wood, glass & wrought-iron sliding doors to a spacious office/study with a full marble bathroom that could serve as a fourth bedroom. Take the elevator or curved walnut staircase with wrought-iron handrails to the second level, featuring an en-suite guest bedroom with large windows facing the bay and front yard & two primary suites with electric shades, custom walk-in closets with built-ins & French doors to a screened bayfront balcony. Both primary bathrooms include marble counters, herringbone tile, sizable vanities, walk-in marble showers and oversized windows. One bathroom has a separate soaking tub while the other is pre-plumbed for a tub. The residence is surrounded by picturesque tropical landscaping, including a koi pond in the front yard with mango, banana & star fruit trees, and a Ylang-Ylang tree with fragrant flowers that are used to make Chanel’s classic perfume. The original two-car garage with a bathroom sits on the south side of the property, where traveler’s palms were added for additional privacy. Other notable highlights include ceiling fans on the terrace and balconies, landscape lighting, three-car air-conditioned garage with washer and dryer, second-level laundry room, tankless water heaters, two 2023 AC units & original attic with storage. This remarkable waterfront estate is less than a mile south of The Ringling Museum, about 1½ miles to Sarasota airport & a short drive to downtown Sarasota’s abundant dining, shopping and cultural arts.
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$10,000,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $8,000,000 | $8,000,000 | $8,000,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.875% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.877% | 6.977% | 7.041% |
Monthly Tax Payment | $5,025 | $5,025 | $5,025 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $54,574 | $52,554 | $71,348 |
Total Monthly Payment | $59,724 | $57,704 | $76,498 |
* 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.