This unique property located on a peninsula in the gated community of Gables By The Sea (780 Lugo Avenue) just closed for $2,650,000. It was being sold as a renovation project and offered 4,045 square feet of living area on a 11,500 square foot lot. It had 100′ of direct bay views with a private dock and boat lift. Although the home needed significant updating, it still sold for $655/sq. ft. of living area which is one of the highest price per square foot figures this year in Gables By The Sea.
It is not likely that the property sold completely for land value because at $250.00/sq. ft. – you would be looking at a higher $/sq. ft. than even Gables Estates is fetching for direct waterfront land.
Property was listed by Joann Roberts.
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