2611 W Gulf DR # B101, SANIBEL FL 33957

2611 W Gulf DR # B101, SANIBEL FL 33957 at BY THE SEA CONDO - $1,200,000.00 - Residential - 3 Beds - 2.0 Baths - 1725 Sqft - 1982 Build. BY THE SEA CONDO - Lee - SANIBEL - FL

By The Sea condo complex sustained damage from Hurricane Ian. The complex is currently defining the scope of the project to rebuild, determining the budget, and awaiting notification from their insurance companies regarding the claim amount to expect. The Association will then vote to determine if 75% of members agree to renovate/rebuild. The vote is expected in January 2023. Then all of the units within the entire complex will be gutted and renovated to the drywall and tape. Owners will customize their own units. There may be assessments related to this work. It is expected the renovation/rebuild will take approximately 12 months from projects start date until homeowners get possession of their units for their own finishings. The listing price of this unit represents a significant discount (nearly $1M) to account for the interior upgrades that will need to be made. Access to the complex will be restricted after November 27. Aerial photo represents complex condition prior to the storm.