Art to Walk On owner buys store's Palm building

BUYER: 1624 South Palm LLC (principal: Eileen Hampshire), Sarasota

SELLER: Hafam FL 16 LLC

PROPERTY: 16-24 S. Palm Ave., Sarasota

PRICE: $1.1 million

LAW FIRM ON DEED: Law Office of Harlan R. Domber PA, Sarasota

PLANS, DESCRIPTION: Eileen Hampshire of Sarasota purchased a 8,761-square-foot mixed-use building on Palm Avenue east of Main Street for $1.1 million.

The price equated to $126 per square foot.

The two-story building features retail space on the bottom level and residential space on the top floor. Hampshire's high-end rug store Art to Walk On occupies two of the suites on the ground level and the art gallery Galleria Silecchia leases the third space.

“My suites were the only part of the building that was really horrible,” Hampshire says. “My husband, who's an architect, said he could fix that and he did. I was leasing a space in Dolphin Towers and needed to get out. I'm very pleased. There's a lot more [foot] traffic.”

The residential portion of the building is also 100% occupied.

Hampshire's purchase entity 1624 South Palm LLC mortgaged the property to the former owner Hafam FL 16 LLC for $880,000.