Waterfront condo project sells all 16 units

LONGBOAT KEY — The developers of Sage Longboat Key Residences have reported that the 16-unit mid-island condominium complex is sold out.

Demolition of the former Sea ‘n’ Sun Resort at 4651 Gulf of Mexico Drive began in the spring, in preparation for construction of the new building. Four penthouses sold for between $5.8 million and $6.3 million each. Lower-floor unit prices range from mid-$4 million to about $5.5 million. Sales were being handled by Premier Sotheby's International. News of the sellout was reported in the Longboat Observer, sister paper of the Business Observer.