Sarasota real estate broker buys, renaming Banana Bay Club Waterside Cottages

BUYER: Heron Lagoon Properties LLC (principal: Kevin Skiest), Sarasota
SELLER: Warren Holdings Stateside Inc.
PROPERTY: 8254 Midnight Pass Road, Sarasota
PRICE: $1.25 million
PREVIOUS PRICE: $1.08 million, October 2003
LAW FIRM ON DEED: Dunlap & Moran PA, Sarasota

PLANS, DESCRIPTION:
Sarasota broker Kevin Skiest, owner of Marke Associates, purchased the seven-unit Banana Bay Club Waterside Cottages on Siesta Key for $1.25 million.

The price equated to $178,571 per unit.

The property features a main building with six of the units, a three-bedroom house, a swimming pool and fishing dock on Heron Lagoon.

“We are in the process of renovating each of the units with new furnishings,” Skiest says. “We're trimming and landscaping, painting and cleaning it up. I see it as an opportunity to improve what [the prior owner] was doing. He did a decent business there, but we plan to make it even more appealing.”

The property is being renamed Flip Flop Cottages.

The purchase entity, Heron Lagoon Properties LLC, mortgaged the property to Synovus Bank for two loans totaling $975,000.