Lawrence Pointe is a boutique condominium complex, highly sought-after, owing to its coveted bayfront location west of downtown Sarasota. This condominium occupies a prime site, the block of 97‒101 Sunset Drive, adjacent west of the posh Ritz-Carlton Residences, and north of the Le Chateau and Sunset Towers, which too are host to prime choices of Sarasota condos for sale.
Completed in 1978, the residences of Lawrence Pointe consist of 40 condos housed in three mid-rise buildings. The condos are laid out upwards from the second level, with the ground level allocated for parking.
Sunset Drive, a cul-de-sac perpendicular south to Gulf Stream Avenue, provides a quiet setting for the gated enclave of Lawrence Pointe. The condominium’s setting, moreover, allows unobstructed views of Sarasota Bay which are quite striking especially during sunset.
A promenade with charming lampposts stretches on the robust seawall of the condominium for its residents to fully savor their bayfront neighborhood. Likewise, located overlooking the bay at the north end of the property, is Lawrence Pointe’s heated swimming pool. Built next to the picturesque of a boat marina, this pool features a spacious deck complete with furnishings of tables, umbrellas and loungers.
Other amenities sweetening a deal on Lawrence Pointe condos for sale include a club room, onsite storage and elevator service. The lobby entrances of the property’s three buildings, like their ground-level parking, are also well-secured and well-kept.
This condominium is superbly maintained, thanks to the full-time onsite manager, whom the homeowner’s association has contracted to oversee the upkeep of the Lawrence Pointe complex. In addition, the annual income of the condo association, which funds property maintenance and improvements, is stable. The association notably gets regular cash flow from a lease agreement it has with the adjoining Ritz Carlton.
Rare Gems for the Taking
Lawrence Pointe condos for sale are also typically very well-maintained and come to the market in move-in ready condition. Availability though is a constraint for aspiring buyers, as sales listings are slow in coming at this property.
For the entire 2017, market activity on Lawrence Pointe condos for sale revolved on just three sales-listed residences. All of these condos have been sold at prices in the $800s, featuring two bedrooms and two baths within living areas of between 1,450 and 1,950 square feet.
Potential Value Boosters
Aside from their luxury features, Lawrence Pointe condos for sale draw market strength from their proximity, to the lifestyle delights in and around Sarasota’s downtown district. Future residential values in this condominium are also expected to be enhanced by major development projects near the property.
One of these is the Quay mixed-use development just north of Lawrence Pointe. Scheduled to roll out in 2018, this construction project includes a public plaza, shops and restaurants. Several waterfront recreational trails are also on the drawing board for this development which could help stimulate activity on Lawrence Pointe condos for sale.
Another transformation looms for a 42-acre city-owned parcel city a short distance north of Lawrence Pointe. A comprehensive plan is expected to be presented in 2018 for this site’s development as a new city center and a bayfront connector to the rest of the city, among other community uses.