The DeMarcay Sets Course for The Goldilocks Zone

Real Estate

BY PHILIP LEDERER SRQ DAILY FRIDAY WEEKEND EDITION FRIDAY FEB 22, 2019

When NASA scientists search for potentially life-sustaining planets in the depths of space, they search for what is referred to as the “Goldilocks Zone.” Like the infamously picky home invader from which the name is derived, these scientists are looking for something quite particular—that narrow habitable zone around a star, at which an orbiting planet would be of the proper temperature to maintain liquid water. Too far away and it freezes; too close and it boils away. But in the Goldilocks Zone, it’s just right for life to flourish. And according to David Wolf, president of ON Collaborative, the marketing and sales firm representing The DeMarcay, Sarasota’s own Goldilocks Zone is right on Palm Avenue. “It truly is the best location for a condominium development in Sarasota,” he says.

Starting today, Sarasotans and snowbirds can finally get a fully detailed look at The DeMarcay, a planned high-rise condominium development set to sprout skyward from the rear of the historic hotel of the same name on Palm Avenue. Designed by GK Development and slated for 18 stories, the project preserves the historic, and nationally registered, front-facing façade, while housing 39 luxury residences above, with ocean views starting at the 13th floor and a rooftop pool beyond. And opening today across the street, the DeMarcay sales gallery offers the inquisitive and in-the-market an inside look at what’s to come, through scale models, floor plans, virtual reality tours and kitchen and bath vignettes installed to actual size. But in a town known for luxury in design and amenities, one of the things that The DeMarcay can claim as its own, says Wolf, is primo real estate.

“You’re not paying waterfront pricing,” Wolf says, “but you’re getting all the amenities and all the accessibility.” And, according to ON Collaborative’s market research, the trend for Sarasota and other coastal towns is exactly that, with especially the retiree crowd moving off the water and closer to town centers. “They thought they were going to go to the beach every day, and they find that they don’t,” says Wolf. “What they want to do every day is go shopping, go to restaurants, go to the doctor.” Palm Avenue, he postulates, with its art, food and retail scene—as well as easy access to the rest of the Downtown Sarasota area—gives future DeMarcay residents just such positioning.

And with construction not only preserving but working in tandem with the historic façade, Wolf expresses no concern about a high-rise blending in to a “quiet, walking street” like Palm Avenue. “It doesn’t break up the fabric of the street,” he says. “It feels like it’s been there for a hundred years, because it has.”

With construction slated to begin this summer, completion is set for January 2021. A 1-Bedroom begins at $630,000, and penthouse pricing can reach $3 million. Four residences have already been sold.

Pictured: Rendering of the planned DeMarcay development on Palm Avenue.

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