A Disney character once said Ohana means family in Hawaiian and family means no one is left behind, but on Longboat Key, Ohana now also will be associated with luxury and record prices.
A Longboat Key home dubbed the Ohana Estate has been sold for $19.75 million, breaking a Manatee County record for sale price of a residence.
The 2.7-acre property is at 6633 Gulf of Mexico Dr.
![The 2.7-acre property at 6633 Gulf of Mexico Dr., is called the Ohana estate and was sold for a Manatee County record of $19.75 million in summer 2024.](https://investorminute.com/wp-content/uploads/2024/06/73977300007-thumbnail-img-7375.jpg)
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What does the Ohana Estate on Longboat Key include?
The Longboat property’s aesthetic leans heavily into Hawaiian imagery, with plenty of white sand, meticulously landscaped palm trees and several tiki hut-like structures located on the large estate.
Property records show at least four structures on the property, 23,000-square-feet of shaded area that includes more than 9,600 square feet under air conditioning. The site has at least 10 bathrooms and seven bedrooms, according to property records.
The property was owned by the Ohana Trustee LLC, which was managed by Williams Parker lawyers William Seider, Michael Wilson, Patrick Ryskamp and Thomas B. Luzier. Additional details about the ownership were not available.
A deed has also not been recorded on the transaction and the Realtor who represented the seller did not disclose the buyer.
The sale of the Ohana estate broke a 2022 sales record set by the $16 million sale of an Anna Maria Island property located at 100 Beach Ave. in late 2022.
It isn’t the only record sale to close in recent weeks.
What are some of the top Sarasota-Manatee property sales?
A 17th-floor unit in The Epoch at 605 S. Gulfstream Blvd. set the record for a condo property in late May in an $11.35 million transaction, breaking the record by about $200,000.
The highest residential sale in Sarasota County history also closed this spring as a Harbor Acres property sold for $20 million in March, breaking a 2022 record that had closed at $17.5 million, also for a Harbor Acres site.
Reid Murphy, of Developers Realty LBK Inc., listed the property for the seller.
Previous record sale in Sarasota:Harbor Acres home sells for record-breaking $17.5 million in Sarasota-Manatee
Murphy sold the property off market, meaning it was never listed by his company on a multiple listing service before it went under contract.
Murphy has set the Longboat Key record three times in his career, including once when he last sold the same property in 2019 for $11.4 million. Murphy started selling property in the area in 1995.
Prices during the pandemic shot up all over Florida, including in Sarasota, causing a near doubling of the record in less than five years.
Murphy said the 2024 real estate market is much different than the pandemic frenzy when few properties would stay on the market for long.
“We have a lot of inventory and a lot of it isn’t moving super quick,” he said.
He pointed to more than three dozen properties for sale with prices above $10 million as signs the market has turned from the high points in 2021 and 2022.
St. Regis Longboat Key resort opening could spur sales
Still, other signs show a stronger market than the number of $10 million properties sitting for sale. For example, he said he’s been told the sales pace at the Rosewood Residences on Lido Key have been strong and he noted the expected summer opening of the St. Regis Longboat Key resort as good signs for the local real estate market.
He also said there have been at least two $10 million sales on Longboat involving owners who demolished the home they bought to replace with newer structures that could sell in the future at a record price.
He also said that north Longboat Key — largely the portion of the barrier island that falls inside Manatee County — has come of age and now rivals the southern portions of Longboat Key located in Sarasota County for desirability.
For years, sales on the southern portion were at higher price points, but the northern part of the island has always had larger lots, even if the homes on those properties were older, he said.
“Northern Longboat really has come into its own,” he said.