Tradewinds Resort sale pending
David Teitelbaum is poised to acquire another Bradenton Beach property.
Teitelbaum said he has a $6 million contract to purchase the Tradewinds Resort, 1603 Gulf Drive, in Bradenton Beach. He said his intent was to retain the 35-unit resort as a hotel, but that each of the units would be sold in the same fashion as a condominium. Individual price per unit is between $275,000 and $295,000; he said eight units have already been sold.
"I expect to close in March," he said, adding that ResortQuest would handle the day-to-day rental operation on the property.
He said that zoning on the Tradewinds property could allow 56 units, but "it's so beautiful, so special, we love the fact that it's low density. It has that Old Florida look."
Teitelbaum is also the developer of Old Bridge Village on Bay Drive South in the city, and purchased and converted the Tortuga Inn, 1325 Gulf Drive, from motel to condos last year.
He said Phase 1 of Old Bridge Village is complete, and furniture is being moved into the six available units and two finished commercial spaces. Five more condo units are still under construction.