October 31, 2014

Realty Check

What Your Money Will Buy


$2 MILLION

“Not only is this a beautifully furnished home, but it’s located in a building packed with deluxe amenities,” says Cathy Krakowski, of the Gifford-Krakowski team at Downing-Frye Realty. “Huge garages, high-tech conveniences and green methodology are just a few of the many top-of-the-line features our clients liked.”

The three-bedroom, den, four-bath home on the 22nd floor of Tavira at Bonita Bay in Bonita Springs has 3,990 air-conditioned square feet and 4,739 total square feet.

“It’s a corner unit,” says Peter Krakowski, “and the views are extraordinary.” He notes that the inlaid marble floor that extends from the private elevator to the double-door entry makes an apt introduction to a stunning home.

The unit was sold by The Lutgert Cos. in January for $2.75 million, furnished.

$1 MILLION

Located in The Classics at Lely Resort in Naples, this four-bedroom, study, four-bath home was sold in February for $1.35 million, furnished.

“The buyers loved the livability of the floor plan,” reports John Dolle, of Stock Realty. “They were also impressed with the quality of the construction throughout the home and the spectacular view from the lanai.”

The living room was designed with arched niches that reprise the columned arches of the room entries and the home’s front elevation. A fireplace and detailed ceiling enrich the ambience. Among many elite components is a palatial master bath.

Built in 2010 by Stock Development, the home has 3,800-plus total square feet and a three-car garage.

$500,000

Located in Crown Colony, Fort Myers, this Bentley model has four bedrooms, three baths and a total area of 4,857 square feet. The luxury-laden interior is matched by a delightful outdoor living area that includes a summer kitchen on the screened lanai. Listing agent Linda Joiner of VIP Reality Group says, “Beyond the infinity-edge pool are views of the lake and golf course and magnificent sunsets.”

Selling agent Roberta Mangum of the Real Estate Café of Southwest Florida adds, “My clients chose the home on Crown Arbor Way over all others because it offered everything they wanted: a gated golf community with a spectacular view and the perfect sun exposure to enjoy the warm days relaxing in their pool.”

Among a raft of upgrades are plantation shutters, roll-down shutters and faux painting. The home, built in 2002, sold unfurnished in February for $549,000.

NEIGHBORHOOD WATCH
Grey Oaks

When grey oaks started to take shape in naples in the early 1990s, plans included beautiful residential communities along Airport-Pulling Road and a makeover for the property’s roadside canal. Marketing began in 1992 for that eastern sector of the golf community and for Estuary in 2000. Prices range from the $600,000s to $6 million in the three-golf course development near downtown shopping and beaches.

Total number of properties: 794

Total MLS sales, July 2009 to June 2010: 34

Total MLS sales, July 2008 to June 2009: 30

Price range, July 2009 to June 2010: $659,000 to $5.2 million

Price range, July 2008 to June 2009: $800,000 to $5.9 million

On the market: Lake, golf course and sunset views add to the charm of this two-story Isle Royale home in Grey Oaks, pictured at left, for sale at $5.8 million (furnishings negotiable). The six-bedroom, seven-and-a-half bath floor plan provides a media/club room, an outdoor living/lanai area with summer kitchen, a separate home office space and a walk-in pantry. The master suite is on the first floor; four guest bedrooms, a loft and a VIP suite are above. Sixteen built-in TVs and a 500-bottle wine room are among the assets of this 8,384 air-conditioned square-foot home built in 2004, offered by Grey Oaks Realty. Two garages and a storage area are part of the 11,329 total square feet.

Recent sale: Sold in March in Estuary, this Borelli Homes model built in 2009 has six bedrooms and seven-and-a half baths. A West Indies theme imbues the 7,400 square feet of living space, which includes a library and a private apartment with living room, morning kitchen, bedroom, bath and laundry room. According to the developer and Larry Lappin of John R. Wood Realtors, the family room opens to a summer kitchen, pool and spa. A guest cabana, four-car garage and golf cart garage are in this home’s total 10,165 square feet. The selling price was $5.25 million, unfurnished.

MARKET TALK 
Condo Upgrades Its Curb Appeal

If you decide to spruce up your home to make it more marketable, you’d probably sit down at the kitchen table, make a wish list, create a budget and hire the help. But what if your home is a 19-year-old, 28-unit condo, and the makeover has a mega-million-dollar price tag?

Other than the $5 million-to-$6 million cost, things aren’t that much different, says Phil Voisine, manager of Seapoint at Naples Cay.

Voisine reports that a facelift was a must for the condo, one of six in a North Naples waterfront complex near the Naples Grande Beach Resort.

“Potential buyers were driving up to the underwhelming entrance and leaving without even looking at the units,” he says. “We had a serious curb-appeal problem, and that was a real shame, because all the units are like penthouses, with square footage in the 5,000-square-foot range and amazing water views.”

Voisine notes that the decision to upgrade was popular, held by about 90 percent of the owners, including those with units to sell and those wanting to maintain their property values. The seven-figure tab was bankrolled partly by reserves and partly by
owner assessments.

“The board was very diligent in polling residents as to
what improvements were key,” he says, “and they tried to satisfy as many requests as possible.”

They hired Boran Craig Barber Engle and Beasley & Henley Interior Design.

The project, which began last May and is just now in the final-touches stage, included relocating the garages, replacing the pool, building a glass-walled fitness center, installing landscaping on the flat roofs, adding guest suites and imbuing the lobby with a more welcoming, homey ambience and an outside-in decor.

Voisine, who oversaw the work on a daily basis, adds that the project’s many energy-conscious elements include a 5,000-gallon rainwater reclamation tank for irrigation use.

Was the money well spent? According to Voisine, “Although we’ve had some distress sales in the $3 million-plus range in the past, in June, we sold a unit for $4,750,000.”

Paula Sims, a broker-associate with Premier Properties of Southwest Florida Realtors, Naples, and a Naples Cay specialist, says, “The extensive renovations have generated a renewed interest in the building, which is now receiving the attention it deserves. Current sales indicate the renovations have brought the building to a new level.”

Edit Module
Advertisement
Edit Module
Advertisement
Edit ModuleShow Tags

Edit Module
Advertisement