Engel & Völkers Madeira Beach Breaks Local Record with $5.5-million Sale

Evan Pedone with Engel & Völkers Madeira Beach represents both sides of transaction at Sunset Inn & Cottages for $5,500,000, breaking the sales records for price per square foot and total price record in Treasure Island

TREASURE ISLAND, Fla., May 4, 2022 /PRNewswire-PRWeb/ -- Engel & Völkers Florida today announced the record-breaking sale of Sunset Inn & Cottages, located at 7925 W Gulf Blvd. Evan Pedone, an advisor with Engel & Völkers Madeira Beach, represented both the buyer and seller, who wish to remain anonymous. The $5.5-million transaction set a new record as the most expensive sale in Treasure Island for overall price and price per square foot at $834 per square foot.

"This was a special property to represent," said Pedone. "The historical significance of the cottages, the beach breezes and relaxing retro Florida design are just a few reasons this property will forever hold a place in my heart. The number of parcels and acreage the property occupies was rare and played a significant role in the value. You don't find beachfront opportunities like these often. I have sold ten of these income property hotels and have been able to get record prices for them."

Located in the idyllic community of Sunset Beach, the Sunset Inn & Cottages features 13 classic hotel rooms and small cottages as guest quarters; all of which have been renovated to a high standard, with luxurious finishes. The $5.5-million price tag crowns it as the most expensive property sold in Treasure Island — beating the previous record-holder by $1.2-million. The typical price for a property in Treasure Island is $618,822 US dollars, where prices have risen by 36-percent over the past year.

"Our area has been 'discovered' as one of the last remaining beach communities that still represents a good value for investors," said Michael Wyckoff, Managing Broker of Engel & Völkers Madeira Beach. "This beautiful property stands out as an example of the quaint character of the area and is a haven for visitors to become immersed in the idyllic nature of Treasure Island. Evan did a stellar job in presenting this property to the market and has become a top advisor by capturing the essence of the properties that he represents, consistently setting records for obtaining the highest value for his clients."

Pedone has become the go-to real estate advisor for notable clients in his market thanks to his successful representation of professional athletes, celebrities and business executives. In the last two years alone, he's facilitated 21 transactions totaling more than $31-million.

"Evan is a shining example of our advisors who leverage the Engel & Völkers brand and utilize our systems and tools to gain listings and clients that they otherwise could not with other companies," said Peter Giese, CEO Engel & Völkers Florida. "We look forward to supporting him to continue setting new sales records as a top real estate advisor in the Tampa Bay area."

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Press contact:
Linzee Werkmeister, Junior Vice President, Marketing & Franchise Support
Email: Linzee.Werkmeister(at)evrealestate.com
Tel: (239) 348-9000

About Engel & Völkers:
Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today's savvy homeowner. Engel & Völkers currently operates approximately 263 shop locations with 5,000 real estate advisors in the Americas, contributing to the brand's global network of over 15,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate, yachting and aviation. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evrealestate.com.

About Engel & Völkers Florida:
Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida's exclusive business model positions its franchisees at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in 42 markets: 30A Beaches, Amelia Island, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Fort Myers Downtown, Gainesville, Islamorada, Jacksonville, Jacksonville Beach, Jupiter, Madeira Beach, Marco Island, Melbourne Beachside, Melbourne Central, Melbourne Downtown, Miami Coconut Grove, Neptune Beach, Ocala, Olde Naples, Orlando, Orlando Downtown, Orlando-Winter Park, Palm Beach, Palm Coast, Pompano Beach, Sarasota, South Tampa, St. Augustine, St. Pete, St. Pete Beach, Stuart, Tampa Water Street, Venice Downtown, Vero Beach, Wellington, and Windermere.
Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network—which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000. For more information about Engel & Völkers Florida, please visit http://www.florida.evrealestate.com

Media Contact

Linzee Werkmeister, Engel & Völkers Florida, 1 2393489000, florida@evrealestate.com

SOURCE Engel & Völkers Florida