The DeMarcay, a luxury residential condominium project by GK Real Estate in downtown Sarasota, recently received its demolition permit from the City of Sarasota and will begin the removal of its two on-site structures. The process of preparing the historic facades of the DeMarcay Hotel and Roth Cigar Factory for preservation began last year, and will continue throughout construction. The DeMarcay is slated for completion in summer 2022.

Recently, The DeMarcay's 3,219-square-foot penthouse sold. Occupying the front half of the seventeenth floor, the penthouse was listed at $3.1 million and will have three bedrooms, three-and-a-half bathrooms, a den and waterfront balcony. The remaining two residences on the top floor also recently  sold. The 18-story building will also feature valet parking, concierge services, a resort-style rooftop pool and amenity space with waterfront views of the Gulf of Mexico and Sarasota Bay. Ranging from 1,055 to 3,219 square feet, the floor plans will have the flexibility to combine units for larger square footage. A one-bedroom residence starts at $700,000, with two-bedroom and three-bedroom residences available.