In a post-double-whammy-hurricane world, in which so many barrier island homes and buildings suffered damage and destruction, one might have expected pending contracts on the islands to crumble, with waterfront living perhaps deemed too risky.

Not so if the address is at The Residences at The St. Regis Longboat Key. A double condo there, made of two adjacent units combined into one, recently fetched the highest price for a condo Sarasota County has ever seen, at $21,244,000. Of all the residences on the St. Regis' 17.6-acre property, these combined units are closest to the Gulf of Mexico and come with unobstructed views of the water.

The record-breaking sale also ranks among the top overall real estate deals countywide. Back in May, a Harbor Acres home, also waterfront, fetched $20 million, and a unit at the Epoch downtown sold for nearly $11.4 million earlier this year.

The combined St. Regis residence, purchased by Pennsylvania's Vail Properties LLC, was transformed into a 10,887-square-foot, six-bedroom, seven-full-bathroom and two-half-bath space. Outside there's another 7,500 square feet with a private, glass-front plunge pool with views of the Gulf. 

The massive unit also includes access to the many amenities one might expect from the St. Regis brand. Residents have exclusive access to a private pool, spa, beach amenities, around-the-clock concierge and butler services, an open-air yoga terrace at the residents' clubhouse, a private wellness center and a private garage.

Located on 17.6 acres, the entire St. Regis development includes 168 hotel rooms, 69 private residences, a ballroom, a spa, two restaurants, indoor and outdoor bars and a 4-acre saltwater lagoon. And, of course, lots of Gulf frontage. The development is expected to have international appeal, drawing brand aficionados and new visitors to Longboat Key.

None of the agents involved in the sale would speak to Sarasota Magazine about the transaction, since the buyer sought anonymity. But according to property transaction records, he knows the area. In 2014, the same Vail Properties LLC that was used to purchase the St. Regis property purchased a home at 2735 Gulf of Mexico Drive for nearly $5.8 million owned by former Walmart chief executive officer H. Lee Scott and his wife Linda. In March of this year, Vail Properties LLC was also used to purchase a marina slip on Longboat Key for $55,000.

According to public records, the company's address is linked to a historic brick home in Wyomissing, Pennsylvania, built in 1939 by that area’s well-known Thun family. Family patriarch Ferdinand Thun co-founded a successful textile manufacturing company there in the late 1800s. 

Those public records list John M. Arnold as the buyer. Arnold is a fourth-generation heir to PPC Lubricants, Inc., a petroleum products company that started as a first- and second generation family-owned timber, coal, heating oil, and coal burner delivery and service company founded by the Arnold family in 1924. Located in Jonestown, Pennsylvania, in 2021 it was acquired by RelaDyne, one of the nation’s leading providers of lubricants, fuel and diesel exhaust fluid.

Looking to get in at the St. Regis? All the units have all sold out, but one may come back on the market since appreciation is proving to be a sound investment. The first St. Regis residence resale recently took place: a unit fetched $13 million on Oct. 15, just under a month after being purchased for $9,011,000 million.

Georgia Kopelousos and Lynn Morris represented the developer in the record-breaking sale of the double unit, and Michael Moulton represented the buyer. All three work for Michael Saunders & Co.