Organization connected to luxury Naples developer buys Sarasota condos for $9.4M

From The Business Observer

An LLC with ties to Naples luxury developer The Ronto Group has purchased nearly 20 individual condominiums in three Sarasota condominium buildings adjacent to one another.

According to Sarasota County property records, WSR-GGP LLC bought 17 units in total 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. That is the same address Ronto lists as its corporate headquarters 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 next to each other on the east side of the peninsula with the building at 325 directly behind the two others, according to images on Google Maps.

What is not clear is how many units are in each building and whether Ronto bought them all or is in the process of buying more. If Ronto is buying the buildings one unit at a time, the purchases will give the developer prime property on one of Sarasota’s most prestigious pieces of land.

Ronto is well known for its work building high-dollar projects and is already developing several luxury projects across the region, 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; it paid $15 million for the Coquina on the Beach hotel in June 2021.