A Louisiana firm has acquired a half-acre tract of vacant land at 680 Golden Gate Point, one of the last undeveloped parcels on a tiny spit of land downtown.

Louisiana firm snags Golden Gate Point parcel

CLICK HERE for another great opportunity on Golden Gate Point <——-========

Condos on Golden Gate Point in Sarasota, FL -- Pic via Sean Dreznin's Blog
Condos on Golden Gate Point in Sarasota, FL — Pic via Sean Dreznin’s Blog

By Michael Braga

SARASOTA – A Louisiana firm called Engquist Level Development LLC has acquired a half-acre tract of vacant land at 680 Golden Gate Point, one of the last undeveloped parcels on a tiny spit of land downtown.

Engquist, managed by John M. Engquist, paid $3 million for the 680 Golden Gate Point land in a deal with Miles Group Sarasota LLC, a Massachusetts company managed by J. Paul Routhier.

Miles Group paid $2 million for the land in July 2002, records show.

CLICK HERE for another great opportunity on Golden Gate Point <——-========

Sean Sells Sarasota
Sean Sells Sarasota

Engquist financed its purchase with a $1.95 million loan from Iberia Bank.

Engquist’s purchase comes amid a flurry of activity on Golden Gate Point.

Though the land has been the site of multimillion-dollar condo sales in 2014 — two units in La Bellasera there have sold for $2.55 million and $4.25 million, for instance — development has yet to occur.

CLICK HERE for another great opportunity on Golden Gate Point <——-========

Picture via Michael Adams - The former Aqua development on Golden Gate Point
Picture via Michael Adams – The former Aqua development on Golden Gate Point
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