Sarasota residential investor buys Parrot Beach Cottages

BUYER: Parrot Beach Cottages SK LLC (principal: Bradley Stephenson), Sarasota

SELLER: Parrot Beach Cottages LLC

PROPERTY: 60 Avenida Veneccia, Sarasota

PRICE: $570,000

PREVIOUS PRICE: $1.2 million, March 2006

LAW FIRM ON DEED: Van Winkle & Sams PA, Sarasota

PLANS, DESCRIPTION: Sarasota investor Brad Stephenson purchased the two-story Parrot Beach Cottages on Siesta Key for $570,000. The price equated to $142,500 per unit.

The 1,482-square-foot building was originally constructed in 1925. It is one block from the beach.

Stephenson is managing member of Palm Leaf Properties LLC, a Sarasota company that purchased eight homes in Sarasota starting in 2009.

The Business Review was unable to contact Stephenson for comment prior to deadline.