Tag Archives: real estate

Sarasota Sky Bar & Club to open Friday

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The nightclub is slated to open in the Charles Ringling building on the east end of downtown this weekend.
by: Alex Mahadevan News Innovation Editor

Following some delays, downtown Sarasota’s newest nightclub will open this weekend in the historic Charles Ringling building.

Sarasota Sky Bar & Club will open at 4 p.m. Friday, Sept. 23, at 1927 Ringling Boulevard, which is adjacent to McCurdy’s Comedy Theatre. The club will feature 1960s-themed local band Robin and the Retros starting at 8 p.m., with a $5 cover to get in, said co-owner Tony Tannus.

Democracy, a reggae band, will play during the same hours Saturday.

“We have to mix it up,” said Tannus, who said he wants to focus on bringing in a mature crowd to the non-smoking building. “I’m not bringing in 20 year olds to bounce around.”

Tannus, who also co-owns the Meadows Village Pub & Grill, said the 7,000-square-foot size of the interior, and its history, attracted him to the property. Charles Ringling, John Ringling’s brother, constructed the two-story building in 1926.

“His office is still up there,” Tannus said.

 

Sean Dreznin & Jag Grewal from Ian Black Real Estate handled both sides of the transaction.

Sarasota Sky Bar & Club set to open

Nightclub will occupy Charles Ringling Building in downtown Sarasota.

1927 Ringling image
Business partners, Tony and Marie Tannus, and Alex Hagush have leased the Charles Ringling Building for Sarasota Sky Bar & Club. The building on Ringling Blvd. in Sarasota was built in 1926 and has been home to several nightclubs over the years. // Photo via Ian Black Real Estate

Following a delay earlier this month, the owners of Sarasota Sky Bar & Club say they’re ready to open Friday with a performance by high-energy area dance band Robin & The Retros. Longtime local reggae group Democracy will be playing on Saturday.

Both performances are scheduled for 8 to 11 p.m. with doors opening at 4 p.m. There will be a $5 cover charge for each evening and management has stated that “at this time we will not be offering parking nor valet services to our patrons and will be advising them to utilize available public parking in the vicinity.”

Sarasota Sky Bar & Club, a smoke-free establishment aiming to attract people in their 30s to 60s, occupies the historic Charles Ringling Building in downtown Sarasota. 8 p.m. Friday and Saturday, Sarasota Sky Bar & Club, 1927 Ringling Blvd., Sarasota; $5;  sarasotasky.club

Sean Dreznin from Ian Black Real Estate handled both sides of the transaction.

Sarasota Sky Bar & Club opening in downtown Charles Ringling Building

Commercial Real Estate Profile: Ian Black

Commercial Real Estate Profile: Ian Black

 

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Ian Black founded Ian Black Real Estate as a boutique commercial real estate brokerage and management firm in Sarasota, following stints with Icorr Properties and Fred Starling Inc. Today the company is one of the largest commercial brokerages in Southwest Florida. Photo by Lori Sax

 

February 05, 2016

IAN BLACK
Founder and CEO,
Ian Black Real Estate
Sarasota

Ian Black Real Estate has been busy of late, and not just with the transactions the Sarasota-based commercial real estate brokerage and management firm has been closing in the region’s heated market.

In the past two months, firm founder and CEO Ian Black has named new partners, moved his office, sold his former business address and purchased an investment property in the city’s burgeoning Rosemary District.

His firm has also taken on additional lines of business, been moving into new territory and been involved in some of the largest deals of its 13-year history.

The moves come, too, amid a 30% hike in revenue in 2015.

Taken together, Black says the moves demonstrate the business is “growing up.”

“So much has happened of late that we need to make sure we don’t get ahead of ourselves, and I don’t think we have,” Black says. “We have a good team of people who work well together.”

Most noticeably, the firm moved its headquarters earlier this year to the 84,000-square-foot Kane Plaza office building in downtown Sarasota. There, Ian Black occupies 4,000 square feet and has rights to another 1,600 square feet.

As part of the shift from its long-standing quarters in the city’s Rosemary District, Ian Black also is spearheading roughly $10 million in renovations to the building’s lobby, common areas, bathrooms and signage with owner TerraCap Management, of Bonita Springs. The firm is handling both leasing and management of the property.

“We presented the landlord with a series of recommendations aimed at taking it from a (class) C building to a B-plus or an A building,” Black says.

To date, the recommendations are paying off with new tenants. When TerraCap acquired Kane Plaza, for instance, it was 76% occupied. Thanks to a series of outstanding leases Ian Black has negotiated, the building could be 92% committed by March.

“They’ve done a great job so far,” says Steve Good, a TerraCap partner. “They’re a good fit for us, and we’ve worked really well together as a team.”

While Ian Black has remained focused on Sarasota, the firm has begun chasing deals in Charlotte and Lee counties, as well. It has also expanded into tenant representation, corporate services and by taking on joint listings with giant brokerages like Cushman & Wakefield.

Internally, Ian Black has added partners Michele Fuller and Nick DeVito to its roster, bringing to six the number of principals in the firm. Black, 69, says the appointments recognize the strength and depth of the firm’s talent.

But the firm’s increasing business has really differentiated it. Late last month, firm partner Jag Grewal brokered the $20 million sale of a 30-acre tract in Charlotte County at the entrance of Gasparilla Island. The deal marked the largest in firm history, and came on the heels of its work in the $18 million purchase of the Main Plaza office and retail complex in downtown Sarasota late last year.

“When we made the decision not to have an internal leasing team, Ian was the first person and company I chatted with to do that,” says Fred Starling, a Sarasota County developer and investor whose 600,000-square-foot portfolio is leased by Ian Black.

“I’ve always been impressed with Ian and his team, and his ability to reach out, assess a deal and make recommendations,” Starling adds.

Black, too, has personally been making moves. Last month, he sold his firm’s office at 1069-1075 Central Ave., in Sarasota, for $510,000, and then acquired a building on the same street for $1.03 million through a 1031 tax-free exchange.

Black first invested in the city’s burgeoning Rosemary District in 1995.

And despite all the moves, Black says his ambition is that the firm will continue growing, and move further into tenant representation and receiverships, as well as asset management.

“I’d like us to continue to widen our base of skill sets,” he says. “We never want to be a big company and we know we don’t have the resources to compete in that arena, but I like to think that our marketing material and capabilities are on par with the big firms.

“We’ve had a lot to contend with all at one time, it’s true, but at the same time, we had a great year last year, so we’re thankful for that.”

Click here for the full article and others!

Sarasota-Manatee Tourism: From Europe, with love

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British transplant Mark Toomey owns Robin Hood Rentals on Siesta Key.

 PHOTO by/ NICK ADAMS

By Dale White
Year after year, the Sarasota-Manatee region has been shattering its own records for attracting European tourists and 2015 appears to be no exception.

From 2010 through 2014, the numbers of Europeans patronizing area lodgings, restaurants and attractions from Anna Maria Island to Venice climbed by more than 50 percent – from more than 125,350 to more than 188,500. Reports from the first quarter of this year already show that foreign visitor count up 7.3 percent compared with the same three-month period of 2014. And the bulk of European visitors expected for this year are still two or more months away from making landfall.

Those year-over-year increases do not come by chance. Visit Sarasota County and the Bradenton Area Convention and Visitors Bureau credit a strategy that promotes this area as a destination for travelers from the United Kingdom and central European countries such as Germany, Austria and Switzerland. That strategy calls for targeted advertising and making connections with travel agencies most Europeans rely on. The strategy continues to work, even when the exchange rate is not in the dollar’s favor.

CLICK HERE <—– For complete article

Cash buyers still dominate housing market

By  via Herald Tribune. com

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Cash on the table remains the preferred method of payment for homebuyers in Southwest Florida.

Buyers paid cash for 54 percent of all residential real estate purchased in Sarasota and Manatee counties in May, real estate Researcher RealtyTrac said Wednesday.

The two-county region ranked second among major U.S. metropolitan areas for the highest share of cash buyers of single-family homes and condominiums.

Cash buyers have dominated the Sarasota-Manatee real estate market for several years, even leading the nation for the top share in April.

But no-loan buying has actually slowed down, as 58.1 percent of home sales were closed with cash in May 2014.

Nationwide, all-cash buying dropped to 24.6 percent in May, its lowest level since November 2009, RealtyTrac reported.

Locally, Realtors say smaller investors have become key players in home sales while large institutional investors — who commanded the market during its early rebound — have stepped back.

Retiring baby boomers who have sold homes up North also are paying cash for homes here.

“As housing transitions from an investor-driven, cash-is-king market to one more dependent on traditional buyers, sales volume has been increasing over the last few months and is on track in 2015 to hit the highest level we’ve seen since 2006,” said RealtyTrac vice president Daren Blomquist.

Institutional investors — those that buy at least 10 properties a year — accounted for just 1.7 percent of home and condo sales in Sarasota-Manatee in May, down from 4.8 percent one year earlier.

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U.S. Bankruptcy Judge K. Rodney May will allow a $23 million judgment auction to the Colony’s Trustee to move forward later this summer.

The Colony

by: Kurt Schultheis

U.S. Bankruptcy Judge K. Rodney May approved an emergency motion from Colony Beach & Tennis Resort Chapter 7 Trustee William Maloney this afternoon that allows him to move forward with bids and an auction for a $23 million judgment against unit owners this summer.

Maloney, who doesn’t foresee a settlement among Colony parties, and his attorney, Jordi Gusso, urged May to move forward with procedures that could lead to an August auction of a judgment that longtime Colony owner Dr. Murray “Murf” Klauber won on appeal against unit owners.

Maloney seeks to sell the judgment to Unicorp National Development President Chuck Whittall, which offered $3.5 million for the judgment, or a higher bidder with a better offer at auction. Maloney and Whittall, who already submitted a $200,000 deposit for his offer, have already signed a contract for the judgment.

“In the face of a $3.5 million cash offer, it’s appropriate to bring this forward to you,” Gusso said.

Gusso asked for a bid process for other parties to compete with Whittall’s offer that included the following parameters: an all-cash offer and a deposit that would amount to 10% of the amount of the total bid. The first available bid above Unicorp’s, Gusso said, should be set at $3.6 million.

For complete article, CLICK HERE <——

Sean Dreznin from Ian Black Real Estate sells another investment property! 1739 Siesta Dr in Sarasota, FL

Sean Dreznin from Ian Black Real Estate sells another investment property! 1739 Siesta Dr in Sarasota, FL.

Manatee millennials to commission: It’s too expensive to live here

Manatee millennials to commission: It’s too expensive to live here

Affordable housing top issue for young Manatee residents, workers

Wearing “I am the Manatee Millennial Movement” buttons, the majority of Manatee County’s millennial team shared where they live with the county commission at its Tuesday meeting.

Renting apartments and homes, owning homes, living outside Manatee County and living with their parents were where the county employees who comprise the county’s 36-person millennial team call home.

During the presentation, they shared that there is a lack of workforce housing in Manatee County.

“We are not looking for a handout at all,” said Simone Peterson, a member of the millennial team and a county government neighborhood services specialist. “If I make $30,000, I want to live in a safe, affordable place.”

After talking with different players in the community, including builders and developers, workforce housing, placemaking and infrastructure were the top three concerns identified by the group, according to Peterson.

Ivory Lounge lawsuit against condo owners continues

Ivory Lounge lawsuit against condo owners continues

by: Alex Mahadevan via The Observer.com

The battle between a downtown Sarasota nightclub owner and his residential neighbors at 50 Central Ave. will continue in court after a judge’s action this week.

Circuit Court Judge Rochelle Curley on Tuesday denied Plaza at Five Point Condominium Association’s request to dismiss the lawsuit Ivory Lounge owner Ambrish Piare filed last year. The suit claims condo owners have made false claims and defamed the bar in order to shut it down.

“Obviously, we’re very pleased,” said attorney Andrea Mogensen, who is representing Piare and his firm Jarala Entertainment in the suit. “We’ll begin to engage in discovery and proceed with litigation.”

In early 2014, the city of Sarasota rejected claims Plaza at Five points residents made that the nightclub violated its conditional-use permit, deprived residents their right to quietly enjoy their units, lowered their property values and operated as an “adult cabaret.” Mogenson said that complaint is just one of several “well-documented” incidents cited in the suit.

“The acts of the (Plaza at Five Points owners) were intentional, spiteful, malicious, without justification and made with a  purpose to,” interfere with the Ivory Lounge’s lease and operations, harm business relationships and compel the city to revoke the bar’s permit, according to the May 12 complaint.

– See more at: http://www.yourobserver.com/news/sarasota/Front-Page/0130201538460/Ivory-Lounge-lawsuit-against-condo-owners-continue#sthash.BtVYpvbL.dpuf