ANNA MARIA -- A Lakewood Ranch-based company active in the island residential real estate market has sold one high-end property and purchased two more in the past month.
Rysal Enterprises LLC sold one recently remodeled home on a beachfront lot for $2.65 million, then purchased an off-beach property and another with a water view for a total of just under $2.6 million. Both homes are on the north end of Anna Maria island.
According the Manatee County property records and online real estate marketplace Realtor.com, Rysal paid $1.5 million on May 6 for 113 Park Ave., an eighth-acre lot with a new, four-bedroom home. The seller was Bean Point Properties, an Anna Maria company controlled by Siyamak Pakbaz. Nine days later, Rysal closed on a $1.1 million home at 843 N. Shore Drive. The seller was Lou Ellen Wilson. Wilson had owned the home since 1982.
Rysal, which is managed by Lyn Puskas, took mortgages out on both properties totaling $1.3 million, according to county records.
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The home the company sold is at 789 N. Shore Drive. Remodeled during the past four years, the two-story beach-front home has now sold three times since 2011. A Minnesota company, Bradley Properties, paid $900,000 more for the home and lot than Rysal did when it purchased the property in April 2013, records show.
Rysal owns one more home on Anna Maria Island at 812 N. Shore Drive. It bought the property from former Anna Maria Mayor Mike Selby in November 2013 for $1.6 million.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter@MattAtBradenton.