PMG closes on site for luxury tower in Sarasota for $37 million
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 4, 2023

New York-based Property Markets Group and Sarasota-based MoneyShow have acquired property in Sarasota’s waterfront district for $37 million to develop luxury condominium tower One Park Sarasota.

The 18-story tower on Boulevard of the Arts and the North Tamiami Trail will have 123 units ranging from two- to three-bedroom floor plans.

“The acquisition of this land once again demonstrates our dedication to following through with constructing and delivering a quality project to the community of The Quay,” Dan Kaplan, managing partner at PMG, said in a release. “We are firmly committed to fostering growth within Sarasota, and we are thrilled to take the next step in doing so by developing this transformational project for its residents.”

Coldwell Banker Realty is the sales team for One Park Sarasota, with Chelsa Vahtomin and Robert Robinson marketing the property for sale.

The tower is designed by Sarasota-based firm Hoyt Architects. Units will range from 2,460 to 4,219 square feet and are priced from $1.95 million. The units will have 12-foot floor-to-ceiling windows, built-out closets and a “contemporary lighting package. The residences will also have outdoor terraces with summer kitchens.

The tower will include more than 63,000 square feet of amenities, including a 120-foot-long pool, private theater, a 14,000-square-foot fitness studio, golf simulator room, wine room and fully staffed executive office suites. There is also a children’s playroom and guest suites for residents and their guests. The One Park Wellness Spa will have a spa recreation area, treatment rooms and steam and sauna rooms.

The ground floor will have 13,000 square feet of retail space.

“One Park Sarasota is an exquisite project full of world-class offerings with an unbeatable location on The Bay,” Kim Githler, chairperson and CEO of MoneyShow, said in a release. “We are excited to continue working alongside PMG to raise the bar for luxury living with its stunning design and planning, and we look forward to it engaging the community for years to come.”