Ritz-Carlton penthouse sells at auction for $3,175,000

SARASOTA, FLA. -- Declaring himself “1,000 percent satisfied” with Thursday’s auction of his Ritz-Carlton Penthouse for $3,175,000, Sarasota endodontist Dr. Richard DeVita said shortly after the auction that he plans to sell his newly built home in the Venice area the same way.

 The auction of the condominium drew 10 registered bidders from New York, Florida, Washington D.C. and Texas, according to Craig King, president of J.P. King Auction Company, which managed the sale. Bidders were required to present a cashier’s check for $100,000 to register for the bidding.

 DeVita had purchased the Ritz-Carlton property as a temporary home for his family while work was under way on the luxurious Venice estate. “I’m extremely pleased with today’s outcome, and I’m forward to auctioning my other home,” said DeVita.

 Purchasing the home was Washington, D.C.-based attorney William Wallace, who also maintains a residence in Sarasota.

King said he had expected a strong turnout for the Ritz-Carlton auction. “As the auction date drew near, it was evident from the number of calls and tours that there was a strong market for this penthouse,” King said, adding that he anticipates another successful auction in June.

 “It’s rare to have two sensational properties like these in such a short time frame, especially for the same seller,” said King. “Today’s auction had all the elements of a successful sale – a great property, strong demand, and a market that recognized the property’s true value,” he said.

 The Venice estate will be sold at 2 p.m. Thursday, June 23.

 The Venice estate, set on approximately 100 acres, features large living areas built with such rare features as Travertine Marble flooring, an elevator, 14 HVAC systems, a theater, a guest house, equestrian facilities, paddocks and three ponds connected by two waterfalls.

 Individuals interested in more information about the Venice estate or other properties may contact J.P. King at (800) 558-5464.

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