SARASOTA, Fla. – The DeMarcay, a luxury residential condominium project by GK Real Estate in downtown Sarasota, Florida, recently received its demolition permit from the City of Sarasota and will begin removal of the two on-site structures.
The process of preparing the historic facades of the DeMarcay Hotel and Roth Cigar Factory for preservation began last year and will continue throughout construction. With financing fully in place, an already approved building permit and robust sales, The DeMarcay is slated for completion in summer 2022.
“We have worked closely with the City of Sarasota and its building department on our demolition and preservation plans, and our team is thrilled to secure this permit and begin construction,” said Greg Kveton, principal at GK Real Estate, the developer of The DeMarcay. “This is a truly unique project, which required an extra level of planning and care to properly prepare and preserve both of the 100-year-old facades. We can now begin the physical process of bringing this exciting project to life.”
The DeMarcay is marketed and sold by ON Collaborative, a full-service national development marketing and sales firm integrated with its Coldwell Banker branded operations. The building has garnered interest from buyers looking to live in the heart of downtown, with easy access to amenities, world-class beaches and an abundance of restaurants.
Recently, the exclusive 3,219-square-foot penthouse sold at The DeMarcay. Occupying the front half of the seventeenth floor, the penthouse was listed at $3.1 million and will feature three bedrooms, three and a half bathrooms, a den and waterfront balcony. The remaining two residences on the top floor have also recently been sold.
Located directly across the street from the project at 32 S. Palm Avenue in Sarasota, The DeMarcay showroom and sales gallery provides a preview of the planned high-rise condominium through a variety of visuals. Visitors can see a scaled model of the building, renderings of the property and its seven floor plans, the deluxe finishes available for the well-appointed kitchens and bathrooms and take a virtual walk through each residence.
The general contractor for the project is Palm Harbor-based Voeller Construction, and Chicago-based Ma’am Design Collective will honor the site’s historic past through the interior design.
The 18-story building will boast valet parking, concierge services and a resort-style rooftop pool and amenity space with expansive waterfront views of the Gulf of Mexico and Sarasota Bay. Ranging from 1,055 to 3,219 square feet, the floor plans will have the flexibility to combine units for larger square footage. A one-bedroom residence starts at $700,000, with two-bedroom and three-bedroom residences available.
The DeMarcay sales gallery is open for in-person appointments. However, only one group is permitted in the sales gallery at a time to follow social distancing guidelines. To schedule an online or in-person appointment or for more information, call 941-404-8858, visit TheDeMarcay.com or email sales@thedemarcay.com.
About The DeMarcay
The DeMarcay at 33 S. Palm Avenue will include 39 luxuriously appointed modern residences with the convenience and excitement of downtown living. The DeMarcay will have luxury amenities including 24-hour valet service, a rooftop clubroom and pool with sweeping views of the bay for every resident, and a fitness center. Situated high above the collection of Zagat-rated restaurants, galleries and entertainment venues nearby, its historic address and convenience make the building a prime location for downtown dwellers. The sales center at 32 S. Palm Avenue is open now. Arrange an appointment by calling 941-404-8858 or visiting TheDeMarcay.com.