Spectacular once-in-a-lifetime opportunity to establish a personal estate on one of the most impressive waterfront lots of the Gulf Coast. This exceptional Gulf-front parcel offers a Lido Key address on Westway Drive, renowned for its globally recognized icons of midcentury modern design in the style of the Sarasota School of Architecture. The specific contour of this expansive . 41-acre lot makes it the first Lido Shores address suitable for a deep-water dock and direct private boat access to the Gulf of Mexico. More than 120 feet of direct waterfront on the Gulf offers the opportunity for both private dock access and manicured landscaping or beach surface above the seawall, all with magnificent west-facing views of the water and the southern end of Longboat Key.
Adding incalculable value, this lot is already cleared and permitted for immediate build potential of a large-scale estate. Architectural plans drawn by Jerry Sparkman of the famed design firm Sweet Sparkman are available with the land purchase. These plans honor the style of the Sarasota School of Architecture with dramatic angles, cantilevered living spaces, and the maximum elevation allowed in this enclave of Lido Key, showcasing the most spectacular views of any residence in Lido Shores at a height of 52 feet. With potential for worldwide recognition in modern design, these bespoke drawings encompass 6, 885 square feet of living space under air across a magnificent primary home and separate pool house, with additional specifications including pool and spa, hardscaping, landscaping, and multi-story water features.
Located in the most coveted position of the notable Lido Shores community, this Westway Drive parcel is uniquely poised for immediate groundbreaking. The address boasts acclaim not only for architectural distinction but for rare amenities that include private deeded beach access exclusive to Lido Shores residents, walking distance to the luxury boutiques and eateries of St. Armands Circle, and enviable proximity to the cosmopolitan core of Downtown Sarasota. With endless views and limitless potential, this is an incomparable and immediate opportunity to personalize ultra-luxury living on the Gulf Coast.
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Our Executive Mortgage Banker:
Our Insurance Division:
$10,000,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $8,000,000 | $8,000,000 | $8,000,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.762% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $51,225 | $51,225 | $70,240 |
Total Monthly Payment | $51,350 | $51,350 | $70,365 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.