Positano Condominium Sells for $4.2 Million

Sets Record for Highest Price-Per-Square-Foot on Longboat Key, So Far

LONGBOAT KEY, FL (July 18, 2016)— Coldwell Banker Residential Real Estate’s Bruce Myer sold 4995 Gulf of Mexico Drive, Unit #501 for $4.2 million. The condominium is located in Positano and sets the record for the highest priced condominium per square foot in Longboat Key at $1,311.27 in 2016. Myer is an associate in the company’s Longboat Key office and Myer originally listed the unit for $4.99 million.

The three-bedroom, three-bathroom and one-half-bath residence spans 3,203 square feet. Highlights of the home include 1,500 square feet of exterior terrace space with steps that led to the private pool, spa and patio, as well as find a private elevator entry into a combined living and dining area, master suite and sizable kitchen with views overlooking the Gulf.

“Condominiums without upgrades and renovations will not see as much appreciation as those which have been tastefully renovated. And right now, the demand is strong on Longboat Key for these properties,” said Myer.

Myer has been in real estate for 36 years and his sales volume in 2015 was $46.319 million.

Coldwell Banker Residential Real Estate is a leading full-service residential real estate brokerage company with more than 85 offices and 5,000 sales associates serving the communities of Central Florida, Flagler, Brevard, Palm Beach, Southeast Florida, Southwest Florida, Tampa Bay and the Panhandle. Worldwide, the Coldwell Banker network includes 3,000 offices with nearly 85,000 sales associates. Every day, Coldwell Banker Residential Real Estate properties are exposed to 16 million buyers on more than 725 high-traffic websites. For more information or to view local listings, visit ColdwellBankerHomes.com. To learn more about a career in real estate or affiliating with Coldwell Banker, visit CareersCB.com. Coldwell Banker Residential Real Estate is a subsidiary of NRT LLC, the nation’s largest residential real estate brokerage company.