Rosemary District Development Opportunity Sarasota, FL

Property Location MAP

1469 5th St.
Sarasota, FL 34236

Property #: DG1217R

Contact Agent

Jon Barber, CAI
Tranzon Driggers

877-374-4437 jbarber@tranzon.com

Rosemary District Development Opportunity, Sarasota, FL

  • Will sell regardless of price subject to bankruptcy court approval!
  • Approved for 5-story 7-unit building
  • In the heart of Sarasota’s fashionable Rosemary District
  • County: Sarasota, Tax ID: 2026110046

Sarasota was recognized by U.S. News and World Report as one of the top ‘25 Best Places to Live in the U.S. in 2019’. This listing provides a fantastic opportunity to construct a 5-story, 7-unit building in Sarasota’s burgeoning Rosemary District just north of downtown. Once a small, quiet offshoot of downtown, the Rosemary District has seen huge growth over the past five years, bringing in a vibrant food and art scene with plenty of selections for everyone’s preferences. Entitlements for this property secured under the expired 75/acre Overlay District exceed densities allowed in the current overlay by 3 units adding considerable value to the approved plans. The existing architectural work offers an 18 month head-start on a typical 2 year planning and permitting process. The existing house is in good condition and habitable but the real value is in the development opportunity. Explore Sarasota and the Rosemary District to learn more about the community.

Plans include:
- 2 spectacular 2-story penthouses
- 7 separate, secure parking garages
- Elevators
- Spa areas and private pools in 6 of the 7 units
- High ceilings
- High efficiency HVAC
- The latest hurricane construction standards

Tranzon Driggers, Walter J. Driggers, III, Lic. Real Estate Broker, FL Lic# AU707 & AB3145 | 12% Buyer's Premium | Case No.: 8:19-bk-12098-CED

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Jon Barber, CAI

Jon Barber, CAI: Tranzon Driggers

877-374-4437 jbarber@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

Print Terms and Conditions

  • Buyer's Premium: 12% Buyers Premium based on the high bid.
  • Closing: Closing shall take place within 30 days of the conclusion of the online auction or within 10 days of court approval, whichever is longer, sold in As-Is condition, no contingencies.
  • Deposit Amount: $10,000 cashier’s check or wire transfer made payable to Tranzon Driggers Escrow Account. Balance of 10% due via wire transfer to closing agent within 24 hrs. of being notified as the high bidder.
  • Broker Co-op: 2% of the high bid will be paid to a properly registered broker at settlement.
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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