Make us your home page

Jeff Vinik razes another waterfront home to build Sarasota mansion

SARASOTA — If you're rich, you can afford to buy a multimillion-dollar home just to tear it down for your new mansion.

If you're Tampa Bay Lightning owner Jeff Vinik? You can afford two.

Vinik, the hedge fund megamillionaire and hockey baron who just bought Tampa's Channelside Bay Plaza, started demolition last week on a waterfront home near Sarasota's St. Armands Circle that he and his wife, Penny, bought in May for $3.5 million, the Sarasota Herald-Tribune said.

Wreckers didn't have to go far. The Washington Drive home sits next door to a $4.25 million Key West-style estate that the couple razed late last year.

With both homes leveled, the Viniks plan to spend more than $3.5 million building a coastal compound there with views of the Sarasota bayfront and downtown skyline, permits show.

It'll be a palace away from their other palace, in South Tampa, where the family owns a 10,000-square-foot estate in the Palma Ceia neighborhood.

Last week, Vinik, 55, finalized the $7.1 million purchase of the beleaguered Channelside shopping plaza. That buy will add on to two dozen downtown acres he has gathered near his hockey team's home at the Tampa Bay Times Forum.

Vinik, who also owns a piece of the Boston Red Sox and the Tampa Bay Storm, an Arena Football League team, declined through a spokesman to comment on his plans for the Sarasota home.

Paying for builders or wrecking crews, shouldn't be a problem for Vinik, who once managed one of the nation's largest hedge funds and whose net worth has been estimated at about half a billion dollars. The Viniks are still trying to sell their 11-bathroom megamansion in one of Boston's priciest suburbs, dropping the price to $14.5 million after listing it for $17 million last year.

Contact Drew Harwell at (727) 893-8252 or Follow @drewharwell.

Jeff Vinik razes another waterfront home to build Sarasota mansion 07/28/14 [Last modified: Monday, July 28, 2014 10:57pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. UPS relocates express operations from St. Pete-Clearwater to TIA


    TAMPA — United Parcel Service Inc. is switching airports for its express air operations. Beginning in October, UPS will relocate from St. Pete-Clearwater International Airport to Tampa International Airport.

    Beginning in October, UPS will move from St. Pete-Clearwater International Airport to Tampa International Airport. [Associated Press file photo]

  2. Richard Corcoran takes aim at public financing of campaigns

    State Roundup

    TALLAHASSEE — House Speaker Richard Corcoran, R-Land O'Lakes, may not be running for governor — not yet anyway — but his latest idea will get the attention of those who are.

    House Speaker Richard Corcoran, R- Land O’ Lakes, is proposing an end to public financing of campaigns. [SCOTT KEELER | Tampa Bay Times]
  3. Related Group breaks ground on complex at old Tampa Tribune site

    Real Estate

    TAMPA — When Miami developer Jorge Perez first eyed a 4.2-acre tract on the west bank of the Hillsborough River two years ago, people asked him if he wouldn't prefer to build on the opposite side closer to the downtown core.

    No way.

    From left, Related Group executive associate Arturo Penaa, Jorge Perez, center, founder and CEO of the Related Group, Mayor Bob Buckhorn and Steve Patterson, the President of Related Development dig their shovels  during the groundbreaking ceremony of the 400 unit Riverwalk Manor apartment complex on site of the old Tampa Tribune building on Wednesday. [OCTAVIO JONES | Times]
  4. Eat 3-course meals for $35 at these 100 restaurants for Orlando's Magical Dining Month

    Food & Dining

    In the early 1900s, hotels offered "table d'hote" or "prix fixe" menus as a form of loss leader. Hotels didn't necessarily make money on these lower-priced, multi-course meals, often served at communal tables, but they made up for it on the booze. Prohibition may have contributed to a gradual shift toward a la carte …

    Bulla Gastrobar serves a variety of Spanish and Portuguese dishes.
  5. Plant City farmer hopes robot pickers can save strawberry industry from shrinking labor force


    PLANT CITY — If current trends continue, the region's status as a major strawberry producer will depend in large part on what happens in Mexico.

    Strawberry pickers work during the daytime, when fruit is more likely to bruise. Machine pickers can work at night. The owner of Wish Farms in Plant City is developing automated pickers and hopes to see them at work on a widespread basis in five years. [Times file]