Luxury condo project, with units starting at $3 million, breaks ground in Manatee
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 10, 2014

A condominium building with units that start at almost $3 million is under construction on Longboat Key.

Georgia-based Crossgate Partners LLC - which developed Madeira Bay Resort in Madeira Beach - has already sold five of the 11 units at 4765 Gulf of Mexico Drive, on the Manatee County side of the barrier island. The units are large for condos, ranging in size from 3,380 square feet to 6,370 square feet.

The 5-acre site includes the main residence building, a pool, clubhouse and fitness center and tennis court.

The homes have covered balconies with views of the Gulf of Mexico and Sarasota Bay as well as floor-to-ceiling windows to maximize the views.

The luxury real estate market in Sarasota is red-hot. The Bay region's highest-priced home sale of 2014 was the $10 million sale of a mansion at 4300 Higel Ave. in Sarasota ( see inside that home here). The interest, real estate agents say, is driven by Sarasota's coastal lifestyle combined with its cultural amenities.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.