401 S PALM AVENUE, #801, Sarasota, FL, 34236 | $3,375,000

The Savoy is considered to be among the most sophisticated buildings in all of downtown Sarasota. Located on the idyllic tree-lined Palm Avenue, this building is highly sought after for its beauty, security, and luxury lifestyle. The walkability to Main Street whilst being tucked away on a quiet tree-lined street is rarely attainable. This residence is one of only 24 units in this beautiful location offering an exceptional standard of living. This 8th floor corner residence spans three ensuite bedrooms with spectacular unobstructed water and city views and detailed features to complement luxury living. From the private elevator access and large entry foyer, double doors open to a generous floorplan of more than 3, 170 square feet with floor to ceiling windows that meet tall cove ceilings and crown molding for remarkably elegant style. Full height sliding doors offer seamless access to the deep private terraces to accommodate additional seating and entertaining space. Through a massive window and doors that open to the primary terrace, the chef's kitchen and breakfast nook with adjacent counter seating look directly out to Sarasota Bay. The kitchen is laid out perfectly to showcase the views and maximize prep and entertaining space. The owners suite is a light-filled oasis that enjoys direct access to the main terrace and picture-perfect views of Sarasota Bay. In addition to the dual walk-in closets, the adjoining bath is spacious with dual vanities, a soaker tub and large walk-in shower. The two additional ensuite bedrooms, located on the opposite side of the residence to ensure privacy and comfort for owners and guests, enjoy direct access to a shared terrace with magnificent sunrise views overlooking historic Burns Court. A wonderful bonus den/TV room can serve as additional office space if desired. The powder room and utility room with washer/dryer/sink and storage space add value and convenience to this amazing home in the sky. This residence has an enclosed 2 car garage and large storage unit. The Savoy offers remarkable amenities that include concierge services, two guest suites, secure garage parking and storage, a fabulous rooftop terrace, pool with lushly landscaped lounge area, community room and entertaining area with catering kitchen. A testament to the solidity of the building is that the manager has been on site almost since the building has been occupied. It is an exclusive retreat in the heart of Downtown Sarasota, with immediate access to the waterfront and Sarasota Bay, Selby Gardens, and the city's cosmopolitan shops and restaurants. The Seller will entertain the possibility of a Lease-Purchase.

Features

  • Elevator: Y
  • Heating: Central
  • Cooling: Central Air
  • Levels: 1
  • Amenities: Clubhouse, Elevator(s), Fitness Center, Gated, Maintenance, Pool, Security, Spa/Hot Tub, Storage
  • Rooms: 8
  • Bedrooms: 3
  • Baths: 3 full / 1 half
  • Laundry: Inside, Laundry Room
  • Complex: THE SAVOY ON PALM
  • Year Built: 2006
  • Approx Sq. Feet: 3,172
  • Est. Taxes: $26,723
  • Condo Fee: $9,641 Quarterly
  • Lot Desc: City Lot, Landscaped, Near Marina, Near Public Transit, Sidewalk
  • View: City, Water
  • Elem. School: Southside Elementary
  • Middle School: Booker Middle
  • High School: Sarasota High
  • Pet Policy: Number Limit, Yes
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Freezer, Range Hood, Refrigerator, Washer, Wine Refrigerator
  • MLS#: A4642881
  • Days on Market: 59 days
  • Website: https://www.raveis.com
    /prop/A4642881/401spalmavenue_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 5/14/2025 8:02:08 AM)
Listing courtesy of MICHAEL SAUNDERS & COMPANY   Phone: 941-951-6660

William Raveis Family of Services

Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.

Customer Service

888.699.8876

Contact@raveis.com

Our family of companies offer our clients a new level of full-service real estate. We shall:

  • Market your home to realize a quick sale at the best possible price
  • Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
  • Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
  • Showcase your home on raveis.com with a larger and more prominent format
  • Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology

To learn more about our credentials, visit raveis.com today.

Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
  • Offers you pre-approval in minutes!
  • Provides a guaranteed closing date that meets your needs
  • Has access to hundreds of loan programs, all at competitive rates
  • Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

Pedro DelgadilloInsurance Sales Director, William Raveis Insurance

305.922.5393

Pedro.Delgadillo@raveis.com

Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
  • Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
  • Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
    Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable

401 S PALM AVENUE, #801, Sarasota, FL, 34236

$3,375,000

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 $2,700,000 $2,700,000 $2,700,000
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% 6.764% 6.726%
Monthly Tax Payment $2,227 $2,227 $2,227
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $16,624 $17,288 $23,520
Total Monthly Payment $18,976 $19,640 $25,872

* 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.