Organization tied to Naples luxury developer buys condos in Sarasota for $9.4 million | Business Observer
An LLC tied to Naples luxury developer The Ronto Group has purchased nearly 20 individual condominiums in three adjacent Sarasota condominium buildings.
According to Sarasota County property records, WSR-GGP LLC purchased a total of 17 units at 495, 449 and 325 Golden Gate Point, paying between $500,000 and $635,000 for each. The company paid $9.425 million for the condos, an average of about $554,400.
On the Florida Division of Corporations website, WSR-GGP lists its primary address as 3066 Tamiami Trail N., Suite 201, Naples. This is the same address Ronto lists as its head office on its website.
Ronto officials did not immediately respond to a request for comment.
Golden Gate Point is a 22-acre peninsula adjacent to downtown Sarasota and home to several luxury condo complexes. The buildings at 495 and 449 Golden Gate Point are side by side on the east side of the peninsula with the building at 325 directly behind the other two, according to images on Google Maps.
What is unclear is how many units are in each building and whether Ronto has bought them all or is in the process of buying more. If Ronto purchases the buildings one unit at a time, the purchases will give the developer prime property on one of Sarasota’s most prestigious lots.
Ronto is well known for his work building high-cost projects and is already developing several luxury projects in the area, including Omega Bonita Bay in Bonita Springs, 1111 Central in Naples and Altura Bayshore in Tampa. The company also plans to redevelop a property on Lido Key into a five-star, hotel-branded condominium; he paid $15 million for the Coquina on the Beach hotel in June 2021.