Rosemary District Development Opportunity

ONLINE AUCTION ENDS OCTOBER 6 AT 11 AM ET, LIST PRICE IS SUGGESTED OPENING BID. PRICE DETERMINED AT AUCTION. SUBJECT TO BANKRUPTCY COURT APPROVAL.

• Will sell regardless of price subject to bankruptcy court approval!
• Approved for 5-story 7-unit building
• In the heart of Sarasota’s fashionable Rosemary District
• County: Sarasota, Tax ID: 2026110046
• Property#: DG1217R

Sarasota was recognized by U.S. News and World Report as one of the top ‘25 Best Places to Live in the U.S. in 2019’. This listing provides a fantastic opportunity to construct a 5-story, 7-unit building in Sarasota’s burgeoning Rosemary District just north of downtown. Once a small, quiet offshoot of downtown, the Rosemary District has seen huge growth over the past five years, bringing in a vibrant food and art scene with plenty of selections for everyone’s preferences. Entitlements for this property secured under the expired 75/acre Overlay District exceed densities allowed in the current overlay by 3 units adding considerable value to the approved plans. The existing architectural work offers an 18 month head-start on a typical 2 year planning and permitting process. The existing house is in good condition and habitable but the real value is in the development opportunity. Explore Sarasota and the Rosemary District to learn more about the community.

Plans include:

• 2 spectacular 2-story penthouses
• 7 separate, secure parking garages
• Elevators
• Spa areas and private pools in 6 of the 7 units
• High ceilings
• High efficiency HVAC
• The latest hurricane construction standards

Bid online Sept. 29 - Oct 6, list price is suggested opening bid. Price determined at auction, subject to bankruptcy court approval. See our website at www.Tranzon.com/DG1217R for full terms and conditions.

Tranzon Driggers, Walter J. Driggers, III, Lic. Real Estate Broker, FL Lic# AU707 & AB3145 | 12% Buyer's Premium | Case No.: 8:19-bk-12098-CED