Asset management firm buys Longboat Chamber building

BUYER: PFG Asset Management LLC (principals: Aubrey and Rebekah Price and Kathryn Giardina), Sarasota

SELLER: First Bank, as successor by merger to Coast Bank of Florida

PROPERTY: 6960 Gulf of Mexico Drive, Longboat Key

PRICE: $533,900

PREVIOUS PRICE: $775,000, October 2004

LAW FIRM ON DEED: Robert W. Hendrickson III, P.A., Bradenton

PLANS, DESCRIPTION: Sarasota-based PFG Asset Management purchased the 4,756-square-foot Longboat Key, Lido Key and St. Armands Key Chamber of Commerce building for $533,900.

The price equated to $112 per square foot.

The company is considering moving one of its offices into the building or leasing it out to a bank, according to Jim Price with PFG Asset Management. The investment management firm operates two offices, one in Sarasota and one in McDonough, Ga.