LONGBOAT KEY -- A Gulfside residential property owned by family members for decades has been sold to a Las Vegas buyer.
On April 30, Jackie Howell sold a home and acreage at 6111 Gulf of Mexico Drive for $2.9 million, according to Manatee County property records. The property at the north end of Longboat Key covers 1.88 acres and comes with a 1,600-square-foot home built in 1943.
County records show the property has been deeded between related parties since at least 1969. Howell was deeded the property by her mother in 1992.
The buyer is Sidney Bennett of Las Vegas.
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The home has been listed numerous times since first going on the market for almost $4 million in 2008. Before the recent sale, it was listed last year for $3.495 million, according to listing agent Barbara Ackerman of Coldwell Banker Residential Real Estate.
Kelly Quigley with Michael Saunders & Co. represented the buyer.
Ackerman said the former Howell property is an example of a highly desirable type of real estate in short supply on Longboat Key: teardown property.
"It is very difficult to find a Gulf-front property with a home on it that doesn't really have any value," she said. "You're able to buy this and start with a fresh palette."
Ackerman said the buyer plans to demolish the home and build a new one.
Where homes are newer on the key, getting a property under contract tends to be a longer term proposition. Ackerman said she has to match buyers tastes with the style of homes she has listed.
Prices for Longboat Key property with newer houses are running high this year. Ackerman sold one at 5965 Gulf of Mexico Drive in January for $5.3 million. Another nearby home sold in May for about $5.6 million. The buyers of that home purchased an older home next door and are expected to tear it down and remove it.
Ackerman said sellers of high-end properties on Longboat Key in the current market tend to do it to downsize or move to a more urban area. She said Howell plans to move to downtown Sarasota.
"Many, many of my sales this season were for people from Longboat Key who wanted to move downtown," she said.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter@MattAtBradenton.