Sarasota Duo Makes $11.3 Million off $4.3 Million Apartment Investment

Ross Bryans and John Petitti of Central Park Realty Corp. have sold three of the apartment buildings they owned and managed in Sarasota for $11.3 million, which they originally acquired during the Great Recession for $4.3 million, netting themselves a $7 million profit. The duo earned their reward after years of painstakingly managing the apartments themselves; saying that they’re not afraid to get their hands dirty would be an understatement.

Bryans and Petitti have been working together in the real estate industry since 2000, starting out primarily in condo conversion, which was very lucrative at the time. When the real estate market began to collapse, the duo hunkered down by acquiring properties and adding value by personally renovating them before selling. Eventually, Bryans and Petitti got themselves into a situation that forced them into apartment management, something they never thought they wanted to pursue – but they ended up developing a successful management company and making the most of it. Now, their hard work has paid off, and the two get to share a bountiful profit.

If you’d like to read more about Bryans and Petitti’s “when life gives you lemons” story, check out Chris Willie’s article on the Herald Tribune.