Quay property in Sarasota, FL, for sale
Date: August 15, 2013
by: David Conway
The door has opened for the sale of the former Sarasota Quay property, as the Irish government gained control of the land Monday.
The property at Fruitville Road and U.S. 41, once the planned home of an ambitious combination of residential, hotel, retail and office space, is now on the market after two years of litigation prevented any movement regarding the land.
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“There’s no pressure whatsoever to sell the property,” Shelowitz said. “As the market continues to rise, and as the value continues to rise, eventually you’ll the type of offer that’s being sought.”
The property was up for auction to the public Monday morning, but no serious offers were made. That’s because National Asset Sarasota’s maximum bid of $50 million was disclosed to bidders, Shelowitz said.
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