Homes

Longboat Key's Infinity condo sells five units for $17.9 million

Infinity Longboat Key, a newly completed condo building on Longboat Key, has sold all 11 of its units. The first five sales recorded with Manatee County total $17.9 million. IMAGE PROVIDED
Infinity Longboat Key, a newly completed condo building on Longboat Key, has sold all 11 of its units. The first five sales recorded with Manatee County total $17.9 million. IMAGE PROVIDED

BRADENTON -- An 11-unit luxury condo complex built on the beach on Longboat Key has sold out in a flurry of transactions just as the building received its certificate of occupancy.

Last week, sales of five units at Infinity Longboat Key closed for a total of $17.9 million, according to Manatee County property records. The single most-expensive transaction of the bunch was the $5.15 million sale of one of two penthouse units. For that price, buyers Thomas and Carlotta Soviero of Boston get a 5,400-square-foot residence on the building's fifth floor that boasts more than 2,000 square feet of balcony space.

The remainder of the sales at Infinity are expected to be publicly recorded within the next week.

Built by Georgia development company Crossgate Partners, Infinity has a long history. The company purchased the 3.1-acre property at 4765 Gulf of Mexico Drive in 2004 for $11.8 million. An early plan for the building was put on hold with the onset of Great Recession, delaying construction for several years.

Nancy Arbuckle, the director of new homes for Sarasota-based real estate brokerage Michael Saunders & Co., said her company was hired in 2011 to market and sell the Infinity units. Construction started in 2014 on a condo building redesigned along coastal contemporary lines for post-recession tastes, she said.

MS&C marketed the condo units to a wide audience, drawing buyers particularly from the northeast United States.

Arbuckle said the project's big draw was its location: beachfront acreage in the White Key area of Longboat Key.

"I think the appeal for the building was to those who enjoy living right on the beach," she said.

The lowest price paid for any of the five units recorded with Manatee County so far was just under $2.9 million for one of three 3,400-square-foot units on Infinity's second residential floor. The condo is one of Infinity's three interior units.

Buyers at Infinity all share several amenities. Each condo unit is served by a private-access elevator and all include at least 1,360 square feet of balcony space.

On the ground floor and outdoors, Infinity features a swimming pool, a tennis court, a clubhouse, a fitness center and common beach front.

Arbuckle said buyers were able to have their units completed with custom finishes. Floor plans range from three bedrooms to five.

Officials with Crossgate did not respond immediately to a request to comment on the sales at Infinity.

Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027 or on Twitter @MattAtBradenton.

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