Mira Mar Plaza, a site with National Historic Designation, has been sold

WWSB ABC7 News at 6pm
Published: May. 26, 2023 at 11:56 AM EDT|Updated: May. 26, 2023 at 2:11 PM EDT
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SARASOTA, Fla. (WWSB) - The Mira Mar Plaza on South Palm Avenue in downtown Sarasota has been sold.

Red Property Management has confirmed the sale to Seaward Development and has notified tenants of the building.

The building is listed on the property appraisers’ website as 48,000 square feet. It was built in 1922.

Last June, Seaward tried to purchase the building to tear it down and build a ten-story condo and retail space on the land. That plan was denied by the City of Sarasota. Seaward then withdrew their offer to buy the building.

The Mira Mar Plaza does have National Historic Designation and the City says that while the building needs repairs, it is not in danger of collapsing.

Seaward Development released the following statement:

The Miramar Plaza in downtown Sarasota has changed hands, and the buyer acquiring the property, Miramar Acquisition Company, LLC, has plans to maintain the property for the foreseeable future. The previous property owner, Dr. Mark Kauffman, has owned and maintained this signature property for over 35 years.

One of Miramar Acquisition Company’s partners, Seaward Development, has been a tenant in the plaza for six years, and has a special appreciation for the unique South Palm Avenue location. The ownership group considers this property a long-term asset while analyzing the best options for the property for the future. The use of the property has evolved over time and has included apartments, a hotel, commercial retail, and office. Future Miramar plans will consider feedback from the local community, and honor the property’s past contributions to the city, as options could include a mixed-use development and considerations for affordable housing.

Seaward is a local Sarasota based small business that focuses on one-of-a-kind locations for commercial development, multi-family, condominium, and single-family homes. At this time Seaward will continue to operate their business in Miramar Plaza and looks forward to the community supporting the great mix of tenants for years to come.