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361 Benjamin Franklin Drive
Sarasota, FL 34236
$6,995,000
Conventional
Property
Bedroom
5
Bathroom
6
Property Type
Conventional
Square ft
5405
Property Description
Gulf Front Luxury Living at its Absolute Best in this Exquisite Estate of Palazzi Al Mare in the Heart of Lido Key! It'll be love at first sight when you enter this stunning 5 Bedrooms, 4 Full Baths, 2 Half Baths, 5-Car Garage Gulf Front Dream Estate. Enter through the Iron Front Gate to be surrounded by professional lush landscaping, added lighting, paver driveway & sidewalk leading to the backyard. This home has it all including endless unobstructed views of The Gulf of Mexico. With 5,405 square feet under air, this home features Control I4 smart home automation, expansive living spaces w/ custom designer finishes, ceiling speakers on 8-zones, custom built-ins and motorized Hunter Douglas blinds & shades throughout. First, enter through the Grand Foyer where you will be mesmerized by the breathtaking GLASS ELEVATOR & STAIRCASE for the only 5-Level Homes directly on Lido Beach! Next, take the master staircase or commercial-grade glass elevator to the open-concept, main living area which features an oversized, luxurious great room with views of the crystal blue-turquoise waters of the Gulf as you look out through the floor-to-ceiling HURRICANE IMPACT WINDOWS or SLIDING IMPACT DOORS. The sliding doors to the multiple enclave balconies throughout this home even have the NEW motorized Kevlar hurricane screens! The main living (2nd level) also features a gorgeous Gulf front great room, detailed gourmet chef's kitchen featuring SUB ZERO AND WOLF APPLIANCES, separate walk-in pantry, full dual-bar, sinks, and SUB-ZERO beverage coolers, w/ a separate ice maker as well. Each floor of TRUE living space (3) features massive en suites- customized bedrooms w/ large walk-in his & her closets; en suite bathrooms, private smart controls for the music, blinds, air/heat and lighting. There is even a 5th bedroom on the 2nd floor off the laundry room. The 2nd Primary En Suite is located on the 3rd floor featuring some of the most luxurious upgrades you'll ever see! Take the grand GLASS staircase to the showstopping 4th floor where you will find the breathtaking NEWLY TILED 8-person POOL & SPA w/ ALL NEW EQUIPMENT, overlooking the Gulf of Mexico surrounded by Trex Decking, features a motorized covered sitting area w/ a Muraled wall (that is also pre-plumbed and equipped w/ a gas line for an outdoor kitchen), a half bath, utility closet, outdoor walled speakers, Come lit security & gate system, outdoor H&C shower and one of the best rooms yet- the main Primary, which has been updated for the best mix of entertaining and privacy! Off of the pool deck you will NOW find an entertainer's dream room featuring a Sub-Zero Beverage Refrigerator, Granite Wet Bar w/ a custom Granite L-Shaped Bar, Kevlar screen on the left balcony and then Motorized Hunter Douglas privacy screens/blinds for the others. This Primary en suite features a dream bathroom w/ 2 toilet closets- 1 has a bidet as well; a laundry closet w/ Washer & Dryer Hookups, custom closet built-ins, 2 separate vanities w/ its own separate makeup vanity, custom Victoria Albert soaking tub, dual-shower head w/ sitting areas and attention to detail was not missed as you'll see double coffered custom ceilings throughout and all are unique to its own design. Not to miss, the 5th floor- rooftop terrace, where you can go to enjoy a 360-degree of water views including Sarasota bay and the Gulf of Mexico! The most relaxing & private unobstructed views any property can offer on Lido Key! Only steps to St. Armands! Room Feature: Linen Closet In Bath (Bedroom 2). Bedroom Closet Type: Walk-in Closet (Bedroom 5). Bedroom Closet Type: Walk-in Closet (Primary Bedroom 2).
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2010
MLS Number
N6131634
Location
Address
361 BENJAMIN FRANKLIN DRIVE
City
SARASOTA
State
FL
Zip Code
34236
County
SARASOTA (CITY)
Listing
Provider
Coldwell Banker, original listing
Name
Coldwell Banker
Phone
(813) 754-3586
Office Name
COLDWELL BANKER REALTY
Office Phone
(941) 493-1000
Agent Name
Danielle Dietrich, PA

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.