Neal Communities developing Honore community

BUYER: Neal Communities of Southwest Florida LLC (managers: NCDG Management LLC, Michael Storey, James Schier, Priscilla Heim and Michael Greenberg), Sarasota
SELLER: 4975 Honore LLC
PROPERTY: 4975 Honore Ave., Sarasota
PRICE: $1.4 million
PREVIOUS PRICE: $675,000, September 2014
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Bradenton

PLANS, DESCRIPTION:
Lakewood Ranch-based homebuilder Neal Communities purchased 4.8 acres south of Proctor Road for $1.4 million.

The price equated to $291,667 per acre.

The property was purchased to create a new gated community with 18 home lots. Neal Communities' custom/luxury homebuilder Neal Signature Homes will build the homes in the community. The community has yet to be named.

“The big attraction was the location and the beauty of the property,” says Leisa Weintraub, spokeswoman for Neal Communities. “There are several large oak trees on the site. It is also located near some very good schools, Ashton Elementary and Sarasota Middle.”

The community is scheduled to open for sales early next year.

Neal Communities mortgaged the property to Cassata Funding LLC for $1 million.