It’s got all the bells and whistles buyers would want in a luxury waterfront condo in downtown Sarasota: sweeping views of the John Ringling Bridge, Longboat, and Lido Keys; a massive terrace; lots of glass; a private boat dock with a lift; bathrooms that look like spas; an ultra-modern design that somehow looks perpetually spotless; plus maintenance-free, amenity-studded living.
It was everything Don Patterson needed when, in 2017, he moved into one of the two residences on the first floor of the five-story One88 building on Golden Gate Point. At the time, the condo was a brand-new build and cost him $2.25 million. It was a shell back then, he says, and he added “a nice butler’s pantry, changed the master bath for a better layout” and “upgraded everything” in the 3,024-square-foot space.
A Sonoma, California transplant, it’s no surprise one of those upgrades included the addition of a 500-bottle, temperature-controlled, walk-in wine cellar. That may one of the reasons why the listing price five years later is more than double—well, that and a real estate market that’s been on an unrelenting upward spiral.
With all the improvements, why leave such a coveted address so soon? When he bought the place, Patterson thought he would live there longer. But as it did for many of us, life for Patterson, the founder and CEO of Ascend Wireless Networks, shifted during the pandemic.
“Pre-pandemic, my condo was a fraction of my life. I traveled a lot and had business all over. Now I’m just enjoying not traveling so much," he explains. "I want to stay close to home, but need a bigger place. I work at home now, and I think I'm in the same trend as everyone else who is changing locations to suit their lifestyle.”
For him, that lifestyle requires more space. He bought a new waterfront home in San Remo that’s almost 2,000 square feet bigger than the condo at One88. The new address means he doesn’t have to pay for storing his toys—which include boats, jet skis, paddleboards and four cars, including a Ferrari, an Aston Martin and two motorcycles.
The thing he’ll miss, however, is being the go-to downtown venue for events. As board chair of Big Brothers Big Sisters of the Suncoast, he often hosted up to 100 volunteers, philanthropists and guests who loved the views of Sarasota Bay. He'll also miss the view of the July 4 and New Year's Eve fireworks from the condo's rooftop. But those same things will soon be cherished by someone new. In 2020, one of the condos at One88 sold in just five days for $3.5 million, in cash. Last year, another unit on the fourth floor sold for $5.85 million after just two months on the market.
Interested? Call Joel Schemmel at (941) 308-6497 or Moriah Taliaferro at (941) 504-9910, both at Premier Sotheby’s International Realty.