Sun ‘N Sea Resort, a collection of wonderfully modest beachfront vacation cottages on three Gulf-front acres that for decades welcomed families on holiday to north Longboat Key, has sold for $13.25 million. Charlotte Hedge of Premier Sotheby’s International Realty was the listing agent, and Susan Repp of Coldwell Banker represented the buyer.

Property Management Group announced this week that it will develop Sage, a luxury condominium complex of 16 units and a private beach club starting in the $4 millions, on the site.

According to Hedge, Sun ‘N Sea Resort began in 1948 when a developer named Dudley Mulholland purchased the three-acre property at 4651 Gulf of Mexico Drive. He built five vacation cottages on the site, and over the next eight years built several more. A dozen couples from Indiana purchased the resort in 1964 and built an additional two-story building with vacation units.