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Date of Issue: August 09, 2007

Let's make a deal

Rosy future?
One Island real estate company may have a party interested in purchasing GSR Development LLC’s former Rosa del Mar property on Gulf Drive in Bradenton Beach. Islander Photo: Rick Catlin

Boldly going where others have gone before - and failed - Island Vacation Properties is trying to sell GSR Development LLC’s Rosa del Mar property on Gulf Drive in Bradenton Beach. The asking price is $9.2 million.

The company recently applied to the federal bankruptcy court in Tampa to be named the exclusive listing agent, but mortgage holder Horizon Bank had objected, noting the then list price of $8.2 million would not cover the money it was due.

After negotiations with Horizon Bank, Barry Gould of Island Vacation Properties said an agreement was reached to market the property for $9.2 million.

Gould said he has had some interest from various parties and set Sept. 2 as the deadline. Bids should be submitted to the law firm of Barnes Walker at 5914 Marina Drive in Holmes Beach.

The Bradenton Beach City Commission had approved a site plan for the property for 14 condominiums. That permit has since expired.

Gould said he wasn’t worried about prior efforts to sell Rosa del Mar.

“We have some interested parties. There’s always going to be a demand for Gulffront property and Rosa del Mar is ready for construction. It’s also the largest vacant parcel on the Island,” he noted.

Anyone interested in Rosa del Mar can contact Gould at 448-5500.