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City commissioners voted 4-1 to reject a mediated settlement for the 1260 N. Palm Residences, keeping alive a fight over height, compatibility and the future of Palm Avenue.
Poseidon’s Retreat: An Underwater Condominium Enclave would bring eight luxury condos to the floor of Sarasota Bay thanks to new amendments in the Live Local Act.
After years of debate over demolition, preservation and height, the Palm Avenue project is now entering its sales phase with plans for two 18-story towers behind the restored historic structure. Prices will start in the high $3 millions.
“We’re in a buyer’s market now. There’s a huge amount of inventory to choose from, and people are no longer making random offers. They’ll pay full price—but only if comps support it.”
Florida’s new condo law aims to ease financial pressure after the Surfside collapse, but rising costs, insurance hikes, and mounting reserves continue to squeeze owners—especially in aging buildings.
The newly built Rosewood Residences condo tower sits on the former site of Coquina on The Beach and Gulf Beach Resort Motel. Prices start at $6.8 million.
The latest real estate data shows longer time to contract and growing inventory. The median price for a single-family home in Sarasota County is now $490,000 and $430,000 in Manatee County.