Anna Maria-based Ideal Island Properties recently sold 101 Park Ave., Anna Maria, for $4.1 million.
According to Charles Buky, the agent with the Coldwell Banker-Longboat Key office who handled the sale, it’s the largest lot sale in Anna Maria history.
The lot has an assessed value of $1.75 million, according to information obtained from the Manatee County Property Appraiser’s Office.
Ideal Island Properties is managed by Venture Legal Services of Tampa and owns four other properties in Anna Maria. VLS is registered to attorney Nicole Strothman of Tampa.
David Cote, CEO for Honeywell International, the new property owner, isn’t wasting any time developing the 1.1-acre beachfront lot.
Design plans for the property were submitted Dec. 2 to the city building department. The plans show an elevated home with eight bedrooms, six covered parking spaces, a movie theater-like media center and a fitness center.
The total lot size, according to the plans submitted to the city’s building department, is 48,441 square feet. Using a 30 percent living-area ration, Cote can build up to 14,532.3 square feet. The plan calls for a home of 12,444 square feet.
Before city permits can be sought, the building plans and a letter of “no objection” from the city must be sent to the Florida Department of Environmental Protection for permission to build seaward of the Coastal Construction Control Line.
City planner Alan Garrett said a letter of “no objection” means that the building plans meet city regulations, including building size and lot coverage.
Garrett said all building plans on a gulfshore lot must receive a letter of “no objection” from the city before it can earn the DEP’s approval.
If the DEP approves the plans, the city can issue building permits.
However, given the city’s moratorium on building new homes with more than four bedrooms, Cote would have to sign a five-year restrictive covenant that prohibits rentals to obtain a permit to build.