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Lasbury Tracy Realty Inc
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$3,750,000

Coming Soon

1241 Gulf of Mexico Dr #506, Longboat Key, FL 34228

3 beds Β· 3 baths Β· 2,650 sq ft

Listing courtesy of LPT REALTY, LLC Β· MLS# A4711589

Refreshed from the Stellar MLS feed . This listing’s MLS record last changed .

About this home

Watch the winter sun melt into the Gulf from one of the most sought-after positions at The Water Club. Residence 506 sits in the South Tower on an even-numbered stack. This side catches the season’s best sunsets over the Gulf of Mexico and looks out over the Water Club’s own pool, gardens plus the beaches and water of the Gulf. Those who know Longboat Key want The Water Club. Those who know The Water Club want an even-numbered residence in the South Tower. Inside, a complete top-to-bottom renovation finished in 2025 makes the residence feel brand new. The designer kitchen is the centerpiece, with stone counters, premium appliances, a wine refrigerator and eat-in space. It opens to the living and dining areas, and a wet bar sets the stage for sunset entertaining. All three bathrooms have been fully remodeled. New porcelain tile, updated trim and crown molding, modern lighting and fresh paint run throughout the 2,650 square feet. A whole-home Lutron system sets the mood room by room with the touch of a button. Beyond your door, The Water Club delivers a true resort lifestyle on the Gulf. Amenities include a beachfront pool and spa, Har-Tru tennis courts, a fitness center with saunas and locker rooms, an elegant clubhouse, a library and private event spaces, all within a gated community with 24-hour security and attentive staff. Whether it’s your full-time home or a seasonal escape, Residence 506 is Gulf-front living in the Water Club at its finest.

Facts

Property type
Condominium
Year built
1996
Bathrooms
3 full
Living area
2,650 sqft
Lot size
2.11 acres
Water access
Beach, Gulf/Ocean
Water view
Yes
Private pool
No
Exposure
Northwest
Furnished
Negotiable
Flood zone
AE
CDD
No
55+ community
No
Annual taxes
$27,928/yr
Monthly fees
$2,554/mo
Listed
Nov 1, 2026
MLS #
A4711589

Estimate the monthly payment

Estimate by Lasbury Tracy Realty β€” not a loan offer

Starting figures for 1241 GULF OF MEXICO DR #506. Everything below is editable.

AssumptionNot a quoted rate. Ask a lender what you actually qualify for today.

From this listingThe seller's most recent annual tax bill as reported to the MLS. Your bill will differ β€” Florida reassesses on sale and homestead caps reset.

Editable estimateA placeholder, not a quote. On the Gulf Coast this is the line item most likely to be wrong: premiums swing on roof age, wind mitigation, elevation, and carrier appetite. Get a real quote before you rely on this number.

Starts at $0Deliberately zero until you enter a figure β€” we will not inflate a payment with a guess. Many homes here need it; ask us for the property's flood zone and the current policy's premium.

From this listingMonthly association fee as reported to the MLS. Confirm what it includes, and ask about special assessments.

AssumptionNot applied β€” your down payment is 20% or more.

Estimated total monthly payment

$26,968

$18,962 of that is principal & interest. 30% is taxes, insurance and fees β€” which is why those inputs matter more here than the rate does.

Principal & interest
$18,962
Property taxes
$2,327
Homeowners insurance
$3,125
Flood insurance
$0
HOA / condo fees
$2,554
Mortgage insurance (PMI)
$0
Total per month
$26,968

Over the life of the loan

Loan amount
$3,000,000
Down payment
$750,000
Total interest
$3,826,335
Principal + interest paid
$6,826,335
Paid off in
2056

Interest is the exact schedule total for a fixed-rate loan held to term and assumes no extra payments. Taxes, insurance and fees are not included in these lifetime figures because they change every year.

Calculated on this page from the figures above β€” nothing is sent anywhere and no lender is quoting you. Figures are estimates for planning only, not a pre-approval, commitment to lend, or a statement of the taxes and insurance you will actually be charged. Lasbury Tracy Realty Inc. is a real estate brokerage, not a lender or an insurance agent.

Where this home is

Opens on aerial β€” on this coast the canal, the lot and the neighbours answer more questions than a street grid does.

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Listing information is provided in part by Stellar MLS, as distributed by MLS GRID. Based on information submitted to the MLS as of Nov 1, 2026, 6:53 PM (ET). All data is obtained from various sources and may not have been verified by broker or MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. 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. Some IDX listings have been excluded from this website.

Lasbury Tracy Realty Inc. Β· [email protected]