Longboat Key, a barrier island located on Florida’s gulf coast, is best known for its pristine coastlines and luxury waterfront properties. Now, it has another distinction: the highest residential sale in Sarasota County history.
On July 29, a partial estate known as “Serenissima,” named for its Venetian Renaissance-inspired architecture, sold for a record-breaking $30.3 million, just under two months after it was listed on June 5. The sale was brokered by Rich Polese, a founding agent of Compass Sarasota and the Polese Charron Group.
Polese previously sold the estate for $16.5 million in 2020, after it was originally listed for $19.75 million. The 2005-built mansion, developed by Mike and Michele McKee, first hit the market in 2017 with an asking price of $26.5 million, the highest recorded listing price at the time across Sarasota, Manatee and Charlotte counties.
“It’s truly an honor to have represented Serenissima once again,” said Polese to the Tampa Business Journal on August 4. “This home has always been one of the most special properties on the Gulf Coast, and I’ve admired its craftsmanship and timeless beauty for years. To see it sell for $30.3 million in such a short time on the market is not only a milestone for Sarasota but a reflection of how strong an investment in the market is.”
Inside the record-breaking estate
Located at 845 Longboat Club Road, the 1.2-acre property boasts 145 feet of private Gulf frontage, expansive terraces and an infinity pool. The home includes six bedrooms, six and a half bathrooms, a chef’s kitchen, 10-seat home theater, grand saloon and a sunroom.
Situated on the southern end of Longboat Key, residents also enjoy access to The Longboat Key Club’s luxury amenities, which features two PGA-approved golf courses, a nationally-ranked tennis facility, a full-service marina, a spa and both fine dining and casual restaurants.
A win for Florida’s Gulf Coast market
According to Your Observer, Serenissima’s lot is nestled between two homes valued at approximately $12 million and $20 million, respectively. Yet even with this record-breaking sale, Longboat Key prices have declined by 24.5% year-over-year, with the median price now at $940,000, down from $1.2 million in June 2024.
Despite the broader price drop, Serenissima’s sale marls a major moment for the Central Gulf Coast market. For comparison, the highest recent sale in nearby Pinellas County was an $8.8 million transaction for a newly built waterfront home on Snell Island in late July.
In a statement to Realtor.com, Poese emphasized Sarasota’s continued appeal to high-end buyers: “Not only do residents enjoy the full tax advantages of Florida residency, but Sarasota is a great beach community, with art, culture and world class restaurants,” he said.
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