Tag Archives: lido

IBRE and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

Ian Black Real Estate and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

CLick Here <—-===== for more information

Sean Dreznin sells apartments

Sean Dreznin sells apartments

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Longboat Key Commission considers $1.5 million town center property purchase tonight

by: Kurt Schultheis | Managing Editor

The Longboat Key Town Commission will consider purchasing a parcel of land behind the Longboat Key Publix for $1.5 million tonight at its regular meeting to jumpstart a town center concept.

In a Feb. 26 memo published with the commission’s regular meeting agenda, Town Manager Dave Bullock proposes the commission consider a contract for 2.8 acres of vacant property behind SunTrust Bank on Longboat Key.

The property, owned by Longboat Key resident Joe Wolfer, is the site of the former MODA on Longboat Key luxury condominium project that was nixed in August 2008.

Wolfer, who has the property listed for sale, is willing to sell the parcel to the town for $1,508,000 if the commission agrees to buy the property. Bullock proposes using money from the town’s land acquisition fund to purchase the property.

A majority vote of at least five commissioners is needed to purchase the property.

Wolfer, who has already signed the contract that was submitted for the commission’s review, has another buyer for the property and is only willing to sell the land to the town if the commission agrees to the contract tonight at its 7 p.m. regular meeting at Town Hall. If the town doesn’t act on the contract “immediately,” he’s been informed that Wolfer will sell the parcel to another buyer.

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Canadians swap Golden Gate Point apartment building

Canadians swap Golden Gate Point apartment building

By Michael Braga, Herald-Tribune / Wednesday, June 5, 2013

Golden Gate Holding Company LLC, an Oakville, Ontario company managed by Lou Donato, sold a four-unit apartment building at 182 Golden Gate Point in Satasota to Vandyk Sarasota Golden Gate Point Inc for $3 million.

CLICK HERE <——– for complete article

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Via the Longboat Key News — Colony owners vote, face town

Via the Longboat Key News — Colony owners vote, face town

colony-beach-aerial-300x202

STEVE REID
Editor & Publisher
sreid@lbknews.com

It was a vote of affirmation for Colony Association of Unit Owners President Jay Yablon.
The beleaguered Yablon, who had been chastised the day prior at commission meeting for a lack of progress in redeveloping the 18-acre resort was re-appointed to his position as President and represents a clear majority of the owners.

In fact, the outcome of the vote reflects the very division between owners and ownership interests that Yablon must resolve before any redevelopment can occur.

The Colony is bound by condominium law in needing a 75 percent vote of its 230 unit owners in order to make any substantial material change to the property. Yablon said that of the five seats up for election to the 9-person Colony Board, all are in agreement to support JHM Financial Group. Yablon said on average the five candidates who won received anywhere between 95 and 111 votes. The five candidates who did not win received between 67 and 88 votes. Part of the redevelopment dilemma is that owner Andy Adams controls more than 50 votes and in the election did not side with the Association and Yablon, nor at this point is not aligned with JHM Financial Group. In fact, any successful redevelopment proposal will require successfully obtaining Adams’ support.

At the town commission meeting prior to the association vote last Monday, Colony founder Murf Klauber said he too, is supporting the efforts of JHM Financial Group, and believes an agreement is near.
“We had a group come in and they tried to destroy the Colony and they did destroy it, we built it and ran it and it is destroyed – it’s a fact,” Klauber continued, “I don’t have any money, and they’ve taken my home because it has mold. Let me see who I can blame, St. Denis, your attorney, your planning and zoning director. When I write the story, I’ll be a very lucky guy, I’ll probably get $10 for it. But at this particular moment, we may have the right group in JHM. I love Longboat Key, and I love The Colony. We’ve got to make it happen.”
Unit owner Elsie Kearns said that after a seven-and-a-half hour meeting with the developer, she has tremendous hope for the future.

Commissioner Jack Duncan said although he appreciated the “Kumbaya attitude” there still has not been any 75 percent approval, ever, of anything, by the unit owners.
Yablon told the commission that JHM will not agree to any contract until the board can gain the necessary vote.

….

At one point, redevelopment task force representative Tom Aposporos suggested the town stop grandfathering the tourism units, take them back, and hold a referendum to reallocate them as the commission sees fit.
Many unit owners after the meeting said that any move by the town to take away the tourism units would be met with litigation. One owner said that The Colony had operated continuously with the same number of units for 40 years and that because the town failed to reflect this reality in its zoning codes, is the fault of the town and not the owners of the resort.
For the time being, Yablon said he and JHM will continue negotiating to get past the 75 percent threshold.

For the complete article, click here —–>

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New Boutique Real Estate Company opens for business in Sarasota area

New Boutique Real Estate Company opens for business in Sarasota area

Sand Dollar Real Estate, serving Sarasota county.

Sand Dollar Real Estate, serving Sarasota county.

Serving various communities, including Siesta Key, Longboat key, lido, Casey Key, Bradenton Beach, Whitney Beach, Anna Maria Island, Downtown Sarasota, Hillview, Arlington Park, Gillespie Park, Lakewood Ranch, Gulf Gate and surrounding areas.

Click Here —–> To view Sand Dollar Real Estate

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Longboat Key Club & Resort sold

Longboat Key Club & Resort sold

LBK club – pic via herald tribune archive

By Justine Griffin
Published: Tuesday, October 16, 2012 at 8:32 p.m.

LONGBOAT KEY – The Longboat Key Club & Resort, one of the most important tourism properties in Southwest Florida and host to U.S. presidents and thousands of visitors annually, has been acquired by a hotel operator with significant local holdings.

Ocean Properties Ltd.’s purchase of the 400-acre resort for an undisclosed sum, announced late Tuesday, could also break a legal logjam and jump-start a roughly $400 million redevelopment of the beachfront property, which contains golf courses, tennis courts and a private marina.

The purchase is to close by the end of this month, officials said. The timing of the redevelopment is uncertain, however, because it has been fought by neighbors who contend it will cause traffic congestion and other problems.

“We look forward to being part of the Longboat Key Club & Resort and this community,” Andy Berger, Ocean Properties’ vice president of operations, said in a statement.

Longboat Key Club & Resort is an amazing place and an excellent complement to our family of properties,” Berger added.

Ocean Properties also owns the 222-room Lido Beach Resort, which it bought in 2006, and the 135-room Holiday Inn Lido Beach, acquired three years later.

For Full Article, CLICK HERE <—-=====

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Colony founder and former Chairman Dr. Murray “Murf” Klauber and the limited partners were awarded a total of almost $25 million in a US Bankruptcy Court

Colony founder and former Chairman Dr. Murray “Murf” Klauber and the limited partners were awarded a total of almost $25 million in a US Bankruptcy Court

Klauber wins $23 million award

Longboat Key

STEVE REID
Editor & Publisher
sreid@lbknews.com


Colony founder and former Chairman Dr. Murray “Murf” Klauber and the limited partners were awarded a total of almost $25 million in a US Bankruptcy Court
proceeding Friday afternoon in damages to be paid by the Association of Unit Owners. The award amounts to an obligation of more than $100,000 per unit to be paid over five years.

Klauber was jubilant and at the same time troubled that it had to come to this outcome.

“I feel terrifically elated. The outcome had to soak in,”
said Klauber from outside his temporary residence on Longboat Key. “This Association board caused their fellow investors to come up with more than $23 million. You think they should be pleased with them?” added Klauber.

Judge Rodney May followed the instructions of US District Court Judge Steven Merryday, May’s superior, who ruled last year that May had erred and ordered May to reverse his rulings and award Klauber and the General Partners, which Klauber controlled, extensive damages for the Association of Unit Owners failure to pay for renovations which led to the shuddering of the once-internationally renowned resort.

May was given two options by the superior court judge to consider at the hearing:
award Klauber the total damages of nearly $25 million, or award Klauber about $7 million in damages and return control of the units to Klauber and the General Partner. May said he was going to decline returning control of the units to Klauber.

May said returning control of the Colony to Klauber and the General Partnership was not feasible due to several factors including that the unit owners hold warranty deeds to their properties.
He also said the General Partner and Klauber are in Chapter 7 liquidation and the partnership could not comply with articles of the management agreement. He also said the trustee was not able to successfully take the General Partner into Chapter 11 was another reason.

…(portion from later in article)…
Klauber said his goal is to help bring the Colony back to life.

“I am going to try and find a way to cure the ills at the Colony shortly. This brings them to their senses. All I want to do is bring it back to what should be here for people on the island and for people who should not be injured they way they have been injured. This is a financial injury. They still do not have their units — they need to be rebuilt. We have the right ingredients for this property and I am going to try and see if these people will make sense,” said Klauber.

FOR FULL ARTICLE, CLICK HERE <—–======

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