Last two waterfront lots on Siesta are being sold [South Florida]
Ron Allen, who made his fortune investing in real estate, is set to snap up the last two undeveloped beachfront lots on Siesta Key today.
The price of those lots: $5.4 million.
“I may be paying more than I should, but I figure investing in beachfront will always be pretty good — even in bad times,” Allen said.
Allen, who began buying houses in Sarasota early in his career and later graduated to hotels, said that the land at 145 Beach Road is zoned for commercial and residential development, which permits him to build three or four condominium units on each lot.