Louisiana firm snags Golden Gate Point parcel
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.
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.