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$2,995,000

340 GULF OF MEXICO DRIVE UNIT 136, LONGBOAT KEY, FL 34228

3D Tour
Active4 days on market

Beds

3

Baths

4

Sq Ft

2,880 sq ft

Year Built

1991

Lot Size

10.95 acres

Garage

2

About This Property

Rarely available and distinctly different from traditional condominium living, this two-level penthouse at Tangerine Bay Club pairs nearly 3,000 square feet of beautifully reimagined interiors with sweeping bay views and the privacy of a single-family home. Positioned on a coveted south-facing corner, Residence #136 captures an extraordinary panorama encompassing the bay, downtown Sarasota skyline and protected mangrove preserves. Two generous terraces, a private courtyard entry and a private two-car garage further distinguish this exceptional residence. Inside, the renovation strikes a sophisticated balance between coastal ease and thoughtful design. Soaring vaulted ceilings amplify the natural light, while expansive walls of glass keep bay vistas at the forefront of the main living spaces. A gas fireplace and custom entertainment wall create a dramatic focal point, and direct access to the terraces extends everyday living and entertaining outdoors. Impact-rated Andersen windows, motorized storm shutters, custom LED lighting and California Closets add another layer of comfort and functionality. At the heart of the main level, the gourmet kitchen was designed as much for entertaining as for the serious home chef. Honed marble countertops complement a substantial leathered-stone island and custom cabinetry. A remarkable collection of appliances and culinary features includes a La Cornue dual-fuel range with French plate, Flamberge rotisserie oven, galley sink, wine cooler and Sub-Zero beverage drawers. An adjoining breakfast area provides a relaxed place to begin the day, while the formal dining area accommodates larger gatherings against the backdrop of the residence’s open living spaces. Privately positioned, the primary suite is a serene retreat with direct terrace access, custom closets and a beautifully appointed spa-inspired bath. Quartz surfaces, dual vanities, a freestanding soaking tub and expansive walk-in steam shower create a luxurious setting. Also on the main level, the second bedroom is currently arranged as a den with a nearby full bath, providing flexibility for guests, an office or additional living space. Upstairs, the home reveals another dimension: a lofted lounge with custom built-ins overlooks the living areas below, while a private third en-suite bedroom creates an ideal retreat for visiting family and friends. The separation between levels allows the residence to live comfortably whether hosting a full house or enjoying it as a private island escape. Outdoor living is equally compelling. Two terraces capitalize on the penthouse’s south-facing orientation and elevated perspective. Combined with the private courtyard entrance and two-car garage, these spaces reinforce the feeling of a home. Tangerine Bay Club is one of Longboat Key’s distinctive resort-style communities, recognized for its lush mature landscaping and exceptional location at the southern end of the island. Residents enjoy a 25-meter heated pool and spa set on a private island, tennis and pickleball, fitness, kayak launch, walking paths and a day dock available on a first-come basis. Adding to the community’s appeal, Tangerine Bay Club successfully completed its milestone inspection without requiring repairs, maintains healthy reserves and, at this time, has no special assessments anticipated. Optional membership to the Bay Isles Beach Club provides access to a private beach, adding another dimension to the Longboat Key lifestyle.

Property Overview

Property TypeResidential
Sub TypeCondominium
MLS #A4707766
StatusActive
Year Built1991
Stories4
Total Rooms9
ConstructionBlock, Stucco
RoofTile
FoundationStilt/On Piling
FacesWest
SubdivisionTANGERINE BAY CLUB
CountySarasota
OwnershipFee Simple

Interior Features

InteriorBuilt-in Features, Cathedral Ceiling(s), Eating Space In Kitchen, High Ceilings, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Skylight(s), Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Stone Counters, Vaulted Ceiling(s), Walk-In Closet(s), Window Treatments
FlooringHardwood
AppliancesBar Fridge, Built-In Oven, Convection Oven, Dishwasher, Disposal, Dryer, Ice Maker, Microwave, Range, Range Hood, Refrigerator, Tankless Water Heater, Washer, Wine Refrigerator
LaundryInside, Laundry Room
WindowsStorm Window(s), Window Treatments, Wood Frames
CoolingCentral Air, Zoned
HeatingCentral, Electric, Heat Pump, Zoned
FireplaceYes ()
SecurityFire Sprinkler System, Gated Community, Security Gate, Smoke Detector(s)

Exterior & Lot

ExteriorBalcony, Courtyard, Hurricane Shutters, Irrigation System, Lighting, Sidewalk, Sliding Doors, Storage, Tennis Court(s)
Other StructuresCabana, Storage, Tennis Court(s)
Lot Size10.95 acres (477,011 sq ft)
Lot FeaturesFlood Insurance Required, FloodZone, In County, Landscaped, Near Golf Course, Near Marina, Oversized Lot, Private, Sidewalk
Road SurfaceBrick, Paved
ViewCity, Water

Pool & Spa

Private PoolNo
Pool FeaturesDeck, Gunite, Heated, In Ground, Lighting, Outside Bath Access
SpaHeated, In Ground

Waterfront

WaterfrontYes
FeaturesBay/Harbor Front, Bay/Harbor

Utilities

WaterPublic
SewerPublic Sewer
UtilitiesCable Available, Electricity Connected, Natural Gas Connected, Phone Available, Public, Sewer Connected, Underground Utilities, Water Connected

Parking

GarageYes (2 spaces)

HOA & Community

HOAYes
Senior CommunityNo

Financial Details

List Price$2,995,000
Annual Taxes$22,280 (2024)
ZoningMUC2
Parcel #0012051018

Directions

Gulf of Mexico Dr to 100 block; just past the light at Longboat Club Rd; East turn, through guard gate; turn right; Building 1 is at the very back on the right.

Location

340 GULF OF MEXICO DRIVE UNIT 136, LONGBOAT KEY, FL 34228

Listing Information

OfficeCOLDWELL BANKER REALTY
ListedOctober 2, 2026

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Home Price

$2,995,000

20% ($599,000)
6.75%

Loan Term

Principal & Interest$15,540
Property Tax (est.)$2,745
Insurance (est.)$150
Total Monthly$18,436
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Financing a Luxury Home

Specialized financing for this $2,995,000 property in LONGBOAT KEY. Luxury purchases typically require jumbo or portfolio lending.

💎

Jumbo Loan

$299,500 Down

For homes exceeding conforming loan limits. Typically requires 10-20% down, strong credit, and reserves.

🎖️

VA Jumbo

$0 Down

VA-eligible borrowers can go above conforming limits with zero down in many cases.

🏦

Portfolio Loan

$449,250 Down

Held by the lender, not sold. Flexible terms for high-net-worth buyers with non-traditional income.

🔑

Bridge Loan

$599,000 Down

Short-term financing to buy before selling. Ideal for move-up buyers in competitive markets.

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Listing information is deemed reliable but not guaranteed. All measurements and data should be independently verified. This information is provided by the Stellar MLS. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed. 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. Data last updated: October 3, 2026.

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