Oceane Sale

Oceane has sold 2/3rds of its units

   With the Georgia-based developer of the Oceane complex — CG Oceane LLC — formally having made its Declaration of Condominium on Nov. 4, 2019, units have been selling, the SNL found in a recent search of records kept by the Sarasota County Clerk of the Circuit Court and County Comptroller.

   In its declaration, CG Oceane officially submitted the land “and all improvements erected or to be erected thereon … to the condominium form of ownership and use in the manner provided by the Condominium Act …” That act is detailed in Chapter 718 of the Florida Statutes, the declaration explains.

   Located at 4740 Ocean Blvd., the solitary Oceane building faces Big Pass. It has three floors over a covered parking area, the declaration notes. Each of the six units will have a minimum of four bedrooms and 4.5 bathrooms, the declaration adds.

“Time-share estates shall not be created with respect to any Unit within the Condominium,” the declaration points out.

   Based on a SNL review of deeds, the developer transferred the top two units of the complex to another limited liability company, Oceane Penthouse LLC, which has the same address as the developer: 7320 McGinnis Ferry Road in Suwanee, Ga.

   The sale price listed on the deed was $8,150,000 for Unit 301 and Unit 302.

The transaction was recorded on Dec. 31, 2019, the Clerk of the Circuit Court’s records show.

   The second sale was recorded on Jan. 8. Unit 202 went to 4750 Ocean Blvd LLC, whose address is in Stamford, Conn., the deed says. The purchase price was $4,050,000.

   According to the Florida Division of Corporations, the managers of that limited liability company are Peter Drittel and Jane Drittel, who list Unit 202 at 4750 Ocean Blvd. as the address for the company. 4750 Ocean Blvd. LLC filed its Articles of Organization with the state on Jan. 3, 2020.

   The third sale was recorded by the Clerk of Court’s Office on Feb. 19. That involved Unit 201, which went to trusts established by Suzanne Smith and Peter C. Smith, the deed says. The address listed for the trusts is in Chicago. The price was $4,250,000.

   As of June 11, the Sarasota County Property Appraiser’s Office records showed that CG Oceane still owned the remaining two units, which are on the first floor above the parking level.

   The Property Appraiser’s Office has yet to assign a value to any of the Oceane condominiums.