Island’s luxury-home inventory sees 2 new additions

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By Jane Bartnett

Siesta Key has new additions to its inventory of high-priced luxury homes.
One is in Hidden Harbor, located along the eastern side of Midnight Pass Road, where a soon-to-be-completed property has emerged at 5191 Jungle Plum Rd. with a price tag of $19.95 million. It hit the market on the last day of December.
The community is a private enclave of only 36 homes located on three deeply foliaged streets. Listing agent Joel Schemmel of Premier Sotheby’s International Realty describes Hidden Harbor as a “charming old-Florida-style community.”
Designed by Sarasota-based DSDG Architects and brokered by Schemmel, the 8,165-square foot, six-bedroom, eight-bathroom residence on .740 acres is under construction and expected to be completed by June.
Entrepreneur Randy Nicolau purchased the property in 2018 for $2.5 million. He’s the CEO and co-founder of Poppin, a New York City-based manufacturer of workspace furniture and accessories, and served as the president of Playboy Entertainment for four years in the early 2000s.
According to national news reports, when Nicolau was unable to find a modern Siesta Key home that he liked he decided to raze the structure and build a new house to his own specifications.
As he watched the Siesta Key luxury market climb, Nicolau made the decision to sell his home.
“Sarasota is quickly establishing itself as the young person’s Naples, with an unprecedented number of homes being offered at this price point and an amazing cultural and restaurant scene,” he told the Tampa Bay Business Journal.

New listings with a price beyond $15 million have emerged at 5191 Jungle Plum Rd. (artist’s rendering) and 8218 Sanderling Rd. (submitted photo). They are among four island listings now in that category.

When finished, the residence will feature 150 feet of deep-water frontage and a dock designed to service yachts and boats for sport fishing or cruising.
The main bedroom will have a spacious private balcony and a spa-like bathroom. All five guest bedrooms feature ensuite bathrooms and three have patio access.
An oversized infinity pool, complete with a sun shelf and spa, are part of the exterior features. A balcony with views of downtown Sarasota, along with a floor-to-ceiling wine wall and a four-car garage, are also among the many attributes that luxury buyers may find intriguing.
Up on the roof, a deck with a spa, fire pit and wet bar will be a part of the outdoor entertaining area.
As of mid-January, the new Hidden Harbor mansion was one of three Siesta Key residences listed for sale at $15 million or above.
Meanwhile, the Guy Peterson-designed home at 8250 Sanderling Rd. in the Sanderling Club, listed for $21 million in November and also represented by Schemmel, remains the most expensive house currently for sale on the island.
January also brought a luxury-home news update. According to real estate property details, the sale of the new-construction property at 4136 Higel Ave., listed at $16.995 million by Patrick DiPinto of Ocean Real Estate, is pending. That project is situated on close to 1 acre of land with views of the gulf, and the new home will have 7,464 square feet of main residence as well as 1,530 square feet of a detached guest home.
The residence is expected to be completed within 15 to 16 months.
Then, on Jan. 12, another Sanderling Club home at 8218 Sanderling Road, listed at $14.995 million, entered the fray. The 10,624-square-foot home has an 8,600-square-foot main residence and a 2,600-square-foot guest house. The home sits on a waterfront 4.5-acre lot. There are six bedrooms and seven-and-one-half baths. A five-car garage and tennis courts are also featured.
Brandy Coffey with Keller Williams Island Life Real Estate is the listing agent.
Looking ahead to what the near future holds for the active luxury real estate market on Siesta Key, Schemmel sees opportunity.
“We will see new price thresholds achieved in the coming months and years,” he said. “The pool of buyers narrows quickly and significantly when you go over the $10 million threshold. But they are certainly still there and are more focused on finding the right home and lifestyle. The buyers are generally entrepreneurs and or successful businesspeople looking for a special place to call home.”

Jane Bartnett
Author: Jane Bartnett

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