340 S PALM AVENUE, #15, Sarasota, FL, 34236 | $1,285,000

One or more photo(s) has been virtually staged. One or more photos have been virtually staged. Don’t miss one of the best-priced condominium residences in downtown Sarasota. This 2, 700 SF/three-bedroom/3. 5 bath Sarabande condominium boasts an exceptional combination of space and value, with the luxury and convenience of a Palm Avenue location. Whether you’re a year-round resident or seasonal snowbird, you’ll appreciate the size and flow of this home, the well-managed and fully funded community, and the recent payment of a one-time special assessment by the motivated sellers. Step off the elevator into your semi-private foyer, then through the front door into a light-filled 21 x 21 ft. living area. Floor-to-ceiling windows frame the city, and a comfortable terrace with bridge and city views invites you to relax and unwind. The adjacent dining area, featuring a custom-built buffet, easily accommodates 8-10 guests, making it an ideal space for family gatherings or entertaining friends. Continue to the kitchen with a center island and dining bar, ample cabinet space, cozy eat-in breakfast area, built-in workspace, and direct terrace access. Through a set of double doors, the spacious owner’s retreat features a striking wall of windows and a modern en-suite bath with dual vanities, a large shower, a separate water closet, and two walk-in closets. Comfortably removed from the living and owner spaces, your guests will enjoy their own quarters, complete with an en-suite bath, ensuring luxury and privacy. The third en-suite is yours to customize; whether you envision it as a third bedroom, media room, home office, or an art studio, the choice is yours. A separate powder bath is available to visitors. There is no shortage of storage throughout this spacious home, with closets in the entry and guest area, a pantry, a cedar-lined closet, and generous built-in closets in each bedroom. The residence also includes two garage parking spaces and a storage area. Sarabande boasts professional 24/7 staffing and meticulously maintained amenities: a heated lap pool, a second plunge pool, a large spa, and a grilling area. Stay fit in the well-equipped fitness center, which includes a massage room, sauna, and changing areas. Additional perks include two guest suites, a wine locker, a library, a boardroom, and a spacious community event area with an expansive terrace and full kitchen. Grandly situated across from Sarasota Bay & the marina, Sarabande is a refined urban retreat with the theaters, galleries, shops, spas, and restaurants of Palm Ave and Main St. just outside your door. The sellers are motivated, and the home is comfortably move-in ready.

Features

  • Elevator: Y
  • Heating: Central, Electric
  • Cooling: Central Air
  • Levels: 15
  • Rooms: 6
  • Bedrooms: 3
  • Baths: 3 full / 1 half
  • Laundry: Laundry Room
  • Complex: SARABANDE
  • Year Built: 1998
  • Approx Sq. Feet: 2,761
  • Acreage: 1.29
  • Est. Taxes: $18,844
  • Condo Fee: $8,304 Quarterly
  • Lot Desc: FloodZone, City Lot, Sidewalk
  • View: City, Water
  • Elem. School: Southside Elementary
  • Middle School: Booker Middle
  • High School: Sarasota High
  • Pet Policy: Breed Restrictions, Cats OK, Dogs OK, Number Limit
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Microwave, Refrigerator, Washer
  • MLS#: A4596801
  • Days on Market: 378 days
  • Website: https://www.raveis.com
    /prop/A4596801/340spalmavenue_sarasota_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 5/17/2025 11:33:34 PM)
Listing courtesy of DOUGLAS ELLIMAN   Phone: 941-867-6199

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NMLS Mortgage Loan Originator ID 16953

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340 S PALM AVENUE, #15, Sarasota, FL, 34236

$1,285,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $1,028,000 $1,028,000 $1,028,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.250% 6.625% 6.500%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.911% 6.739% 6.686%
Monthly Tax Payment $1,570 $1,570 $1,570
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $6,330 $6,582 $8,955
Total Monthly Payment $8,025 $8,277 $10,650

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.  The Total Monthly Payment does not include the estimated HOA/Common Charge payment.