Real Estate Gossip

By staff June 1, 2008

Once In a Lifetime

A unique buying opportunity involving five contiguous waterfront lots on Casey Key is announced by Maggie Hutter and Jo Rutstein of Prudential Palms Realty. The $20 million parcel includes three Gulf-front lots and two bayfront properties. The Gulf lots total 340 feet of waterfront, and the two bayfront lots each have their own boat dock. The parcel is located about a quarter mile south of Blackburn Point Road, encompassing the 2914 to 3000 block of Casey Key Road. “This listing offers a rare opportunity,” remarks Hutter. “We believe this is the only contiguous piece of property of its size available on Casey Key where someone could build more than one structure. At approximately 3 and 1/2 acres of prime waterfront, this would make an ideal family compound with plenty of room to accommodate multiple generations. It is just beautiful. Having the chance to own this much land on a barrier island in Sarasota County is almost unheard of these days.” The property has long history on Casey Key. On the bayside parcels, there are three cottages dating back to the 1930s. These Sears & Roebuck pre-fab dwellings are currently being utilized as rental properties.

Buy Low, Sell High

When the going gets tough, the tough get going. And when the market goes soft, paradise becomes attainable. Consider a recent newspaper advertisement by Rooks Morris Real Estate featuring five waterfront properties offered for sale at prices well below appraised values. The property addresses included Sarasota’s most prestigious neighborhoods, such as Westway Drive, Ocean Boulevard, Morningside Drive and Peacock Road. The collection of luxury homes features every amenity, from Gulf and Bay views, deep boating water and famous architects to guest houses, new construction and 8,000-plus square feet of living space. But it is the slashed prices that grab the headlines. One property has been reduced by $500,000, another by $850,000 and two others by $1 million each. Strike now while the iron—if not the market—is hot.

Going Out with a Bang

Olympia Zacchini, a nationally known artist and member of the famous Zacchini family that invented the human cannonball circus act, is selling her home so that she can semi-retire and concentrate on her art projects. The gated compound with separate studio-guest house is set on nearly one acre directly on Sarasota Bay. The lushly landscaped grounds abound with fruit trees, palms, flowering plants, and vegetable and herb gardens. The three-bedroom home, built in 1965, overlooks a large swimming pool with slide, hot tub and 10-foot rock waterfall. Sliding walls of glass retract to merge interior living space with the outdoors. The studio-guest house offers an additional 1,800 square feet of living area. The property is listed for $3.5 million with Cheryl Cusack of Charles Rutenberg Realty.

All in the Family

One of the area’s most successful real estate duos has decided to transform their long-standing partnership into two separate family-based teams. Saint Cacchiotti and Gail Wittig will each join with their talented offspring and will continue to serve existing clients from Michael Saunders & Company’s office on Longboat Key.

Cacchiotti joins daughter Dawn Fulton Collins to pursue an international marketing partnership with Jo and Terry Blackman, part-time Longboat Key residents who own and produce The Portugal News, the largest English-language newspaper in Portugal. Their focus will be marketing Longboat Key to affluent Europeans seeking second homes in seaside resort destinations.

Wittig and her son, Ian Addy, have joined forces with Barbara Milan, who has 17 years experience as a bilingual licensed realtor. Their focus will be luxury resales on Longboat, Siesta and Casey keys and pre-sale activities for Beau Claire, a new beachfront condominium on Longboat Key.  

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