In one of Siesta Key's most desirable buildings, Somerset Cay offers a very unique chance to own an opulent three-bedroom, three-bathroom waterfront home. The comforts of a condominium lifestyle are combined with the seclusion of single-family living in this property. With a private gate leading down to the pool and dock, residents may enjoy colorful sunsets from the expansive 900 square foot, two-level waterfront terrace/lanai that faces west. A limited elevator and lobby provide safe access, and the elevator travels straight to a private foyer on the second story.
Bamboo flooring, a combination of tile and carpeting, crown molding, plantation shutters, granite countertops, large walk-in closets, high ceilings, an in-unit laundry room, an immense two-car garage, and a separate storage area are just a few of the interior features.
With features including a fitness center, a grill area ideal for gathering, and a glittering pool and spa, the exclusive Somerset Cay neighborhood encourages a resort-style lifestyle. There is a kayak launch, a new kayak lift, kayak storage indoors, and direct sailboat access to the bay and Intracoastal Waterway, which eliminates the need to cross bridges. The freshly rebuilt Midnight Pass offers easy access to the Gulf of Mexico.
With just 17 residences in the complex, Somerset Cay offers an unparalleled degree of seclusion and peace. This second-floor home is ideally located close to Turtle Beach, the well-known Ophelia's Restaurant, Turtles Bar & Grill, and South Key Marina on the southern end of Siesta Key. Locals can browse the stores.
Some photos have been staged.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,199,200 | $1,199,200 | $1,199,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.625% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.861% | 6.751% | 6.666% |
Monthly Tax Payment | $1,009 | $1,009 | $1,009 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,286 | $7,679 | $10,446 |
Total Monthly Payment | $8,420 | $8,813 | $11,580 |
* 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.