$2,899,000
701 Cohen Way
Sarasota, FL 34236
Listing updated: June 23, 2026 at 6:25 PM ET
Property type
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
About this home
Permit-ready opportunity in Sarasota’s red-hot Rosemary District. A rare chance to build lifestyle-driven homes in one of Sarasota’s fastest-growing urban neighborhoods. This shovel-ready project is designed for buyers who want modern design, abundant outdoor living, and walkability—all the essentials for today’s millennial and empty nester markets. Project highlights include: a permit-ready space, construction can begin in just 60 days. Potential for six three-story townhomes, each with four bedrooms, three full baths, two half baths, as well as private pools and guest houses—luxury features that set this community apart. Multiple terraces, patios, and outdoor kitchens will provide expansive outdoor living space. Private two-car garages for every residence. Large residences at over 2,800 square feet. Priced from $2,693,000 with light, bright contemporary architecture and impact glass up to the latest hurricane standards. The projected sales volume is over $16,000,000, with a projected profit potential of $4,426,000 (Pro Forma available). An advantageous location, the project is just steps from The Bay Sarasota, a 53-acre waterfront park, two blocks from Sarasota School of Arts and Sciences (SSAS), is surrounded by 65 restaurants within six blocks, and sits just minutes to downtown shopping, theaters, arts districts and St. Armands/Lido Beach. Located in Flood Zone X, a safer, elevated land designation. Adding to the sought-after location is the stunning urban design across 7th Street. The award-winning Sarasota and Rosemary District architect, Halflants & Pichette, has designed a condominium project with a rooftop pool, fitness center and clubhouse coming at southwest corner of 7th/Cohen Way. Why this project wins? This condominium development lives like single-family homes—offering privacy, scale, and unparalleled outdoor space. With demand outpacing land supply in Rosemary, this is a timely opportunity to shape the district’s next chapter. Completion possible within 18 months of groundbreaking. Optional advantage - buyer may retain the current builder/owner to streamline construction.
Local Insight
At $217 per square foot for raw land in the Rosemary District, you're paying premium pricing for location and development potential rather than any existing structure—this works only if you have a solid plan for what goes there and can handle construction costs in what's become Sarasota's hottest walkable neighborhood. The X flood zone designation is a major plus for financing and insurance, but at 0.31 acres you're looking at a fairly tight build envelope, so confirm zoning allowances before committing since teardown-and-rebuild projects in this district often face height, setback, and density constraints that can kill profitability.
AI-generated insight based on listing data and neighborhood context. Verify independently.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history73 days on market
- Status: ActiveJun 23, 2026
- Listed$2,899,000Sep 30, 2025
- Price increased$2,899,000
Facts & features
- Property type
- Land
- Status
- Active
- Days on market
- 73
- Subdivision
- Rosemary District
- County
- Sarasota
- Price/sq ft
- $217
- Lot size
- 13,350 sq ft
- Lot category
- 1/4 to less than 1/2
- Flood zone
- X (12115C0133G)
- Annual taxes
- $14,176 (2025)
- Parcel #
- 2026060036
- Zoning
- DTE
- MLS #
- A4666601
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Interior Details
- Direction faces
- East
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Listing terms
- Cash, Conventional, Owner Financing
- Ownership
- Fee Simple
Exterior & Construction
- Road surface
- Paved
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Electricity Available, Sewer Available, Sewer Nearby, Water Available
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Listing Details
- Listing date
- 2025-09-22
- On market date
- 2025-09-30
- Original list price
- $2,899,000
- MLS area
- 34236 - Sarasota
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-06-23
- Tax legal description
- LOTS 5 & 6, SUB LOT 12, BLK Y, PLAT OF SARASOTA, BEING SAME LANDS AS DESC IN ORI 2014040833 & 2015024551
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
FROM I 75, TAKE FRUITVILLE RD EXIT INTO DOWNTOWN SARASOTA; TURN NORTH ON CENTRAL AVE; TURN RIGHT ON 7TH STREET; PROPERTY IS ON LEFT AT COHEN WAY/7TH STREET.
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively 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.
Based on information submitted to the MLS GRID as of June 23, 2026 at 6:25 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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