$27.4 million - Helmsley Sandcastle Hotel

Delray Beach-based Ocean Properties Ltd. purchased the 177-room Helmsley Sandcastle Hotel on Lido Beach for $27.4 million.

LOCATION: 1540 Benjamin Franklin Drive, Sarasota
PURCHASE DATE: Feb.7
PRICE PER UNIT: $154,802

DETAILS: Built in stages in 1953, 1957 and 1967, the 152,546-square-foot resort occupies a 6.13-acre waterfront site. The community features two heated swimming pools, a business center, dining room and lounge, shuffleboard and volleyball courts and meeting/banquet facilities.

The property has been renamed, the Sandcastle Resort at Lido Beach.

Ocean Properties is one of the largest privately held hotel operating and development groups in North America. It owns more than 100 hotels, including the Resort at Longboat Key Club, Hilton in Longboat Key Courtyard Bradenton Sarasota/Riverfront, the Edgewater Beach Hotel in Naples, and the Sandpearl Resort on Clearwater Beach.