Done Deal

A Former Hasbro Exec and His Wife Recently Sold Their Lido Shores Home for $12.8 Million Cash

Let's take a tour.

By Kim Doleatto June 20, 2024

1325 Westway Drive, Sarasota

The luxury home market is sizzling, and here’s yet another example of what’s cooking: A modern marvel of a home in Lido Shores, at 1325 Westway Drive, recently sold for $12.8 million.

The roof doubles as a putting green.

We wrote about it when it was listed for $15 million last year, and the sellers David and Linda Hargreaves weren’t in a rush—not only because it’s a stunning place to live, but because they’re upsizing from these mere 6,590 square feet to another larger custom-built home in the works on Longboat Key.

The home's courtyard

Image: Crystal Pixel

In 2010, the Hargreaves bought the 2,000-square-foot ranch-style home that previously sat on the lot for $2.2 million and knocked it down after David retired to Sarasota from Rhode Island. That move happened after David spent 35 years with Hasbro in various executive positions, from chief financial officer to chief operating officer. If you don’t know Hasbro, you know its portfolio. The company owns brands like G.I. Joe, Peppa Pig, Play-Doh, Nerf and Transformers, to name just a handful of its more than 1,500 global brands.

The home's living area

Image: Crystal Pixel

The architect the Hargreaves hired was Mark Sultana, founder of local firm DSDG Architects, and it was built in less than a year by Voigt Brothers Construction. Today, the same home would probably cost roughly $10 million to build, thanks to increases in labor and material costs. At the time, David says, it cost roughly half that. “Today, you’d be lucky to find the land and it would be a year before an architect could even start," he told us in a previous interview. "It would then take years to reproduce.”

He would know. He partnered with Patrick DiPinto and started Seaward Development, which has spearheaded projects like Park Residences of Lido Key and the 18-story Epoch in downtown Sarasota. More recently, the firm had plans for Mira Mar Plaza on Palm Avenue, also downtown, but those fell through.

The kitchen

Image: Crystal Pixel

As for who the listing attracted while it was listed, Roger Pettingell of Coldwell Banker, who represented the Hargreaves, says it was "the style more than the location that was attracting people first, but that location is also its own magnet."

A bedroom

Image: Crystal Pixel

Lido Shores is ground zero for everything emblematic of the Sarasota School of Architecture and its legacy. Although the home was built in 2011, it adapts some of the design elements the midcentury Sarasota School style is known for, like clerestory windows, simple lines and lots of glass to bring the outside in. It sits almost directly opposite the famed Umbrella House, and its address has been included in Sarasota MOD Weekend home tours. The neighborhood is also delightfully diverse in style. For example, the address next door is a classically styled home designed by Adrienne Vittadini that we wrote about in 2022 when it sold for $11.5 million.

Westway Drive is dotted with homes of different styles.

Image: Crystal Pixel

Crystal Saly of Re/Max Platinium Realty says the buyer looked first at Casey Key, then Longboat Key and Cherokee Park, but this home "checked all the boxes, with its contemporary lines, generous views thanks to lots of glass, private beach access and dock." The buyers even bought much of the furniture, which complemented the home’s scale and style. Colleen Waldoch, also on the buyer side of the transaction, says the new owners likely won’t be changing anything and “were happy with the way it was.”

A bathroom

Image: Crystal Pixel

The buyers are Matthew and Desiree DeSoto, according to Sarasota County records. Since 2013, Matthew has been the chief executive officer of Miter Brands, a window and door brand based in Harrisburg, Pennsylvania. Miter recently purchased Venice's PGT Innovations for $3.1 billion, with the latter paying an $84 million fee to Tampa's Masonite to terminate a previous agreement. The deal is being financed in part by Koch Industries.

Furniture brands represented inside include Cassina, Roche Bobois, Rolf Benz and Eames.

The three-story Lido Shores home, which also has a guesthouse, has a courtyard with two buildings on either side, and the pool and terrace area is placed in between for a private, sunny getaway complete with a summer kitchen, fire bowls and a bridge. The main home has three bedrooms and the guesthouse has two.

Another bathroom

The main living area and kitchen are on the second floor, with an office and a guest bedroom downstairs. There’s also a deepwater dock, two boat lifts and a waterside hot tub. The rooftop terrace is laid with artificial turf for a putting green.

The dining area

Image: Crystal Pixel

Despite an overall calmer local real estate market so far this year, the luxe side has been booming. ​​A condo recently sold for $11.35 million, a Longboat Key compound sold for $19.75 million and a Harbor Acres home fetched $20 million. If you're seeking to join in, another home on the same street is listed for $25.7 million.

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