A local hotel and hospitality business owner paid $1.875 million in recent weeks for a second home in an exclusive subdivision southwest of Dr. Phillips.
Set in the 8000 block of Southern Breeze Dr., the 0.5-upland acre property features frontage on Big Sand Lake in the 24-hour gated community Estates at Phillips Landing.
Built in 1997, the two-story home has five bedrooms and four baths across 6,193 square feet of conditioned area, and features a pool and spa with waterfall, boat dock and large deck.
The buyers were Anshu K. Jain and Nora Jain. Anshu is a principal in the ownership group of the Clarion Inn & Suites on Caravan Court near Universal Orlando, which has been undergoing renovations since 2014. He holds a managing member stake in seven Florida businesses, most tied to hospitality.
The sale closed on Sept. 29, and was recorded Oct. 4 in Orange County.
The Jains already own a newer but smaller home just down the block, built in 2003 with four beds, four-and-a-half baths and 4,537 square feet of conditioned area, for which they paid $900,000 in 2008. Anshu told GrowthSpotter they have yet to decide if they will treat the recent purchase as an investment property or move there.
The sellers were Michael and Lorraine Quinones, who previously paid $1.75 million for the home in 2004.
The seller was represented by Ann Varkey of Re/Max Properties S.W.