Crystal Waters Estate on Siesta Key Sells for $21.95 Million After $9.55 Million Price Cut

The Crystal Waters estate sold last Thursday, Sept. 17, for $21.95 million. The 2.78-acre property sits at 8501 Midnight Pass Road on Siesta Key.

The sale provides a new benchmark for Sarasota’s luxury market, highlighting the significant reduction from its original asking price. The closing price reached about 70% of the $31.5 million price Crystal Waters carried when it debuted in 2025.

A Major Siesta Key Sale

Crystal Waters returned to the market in June with a $29.99 million listing price after its owners had previously taken it off the market. For context, Sarasota County sellers received a median 94.7% of their original list price in August, according to the latest market report from the Realtor Association of Sarasota and Manatee.

Sarasota philanthropist Crystal Lahners sold the estate. Her late husband, Dr. Bill Lahners, served as a prominent eye surgeon at Center for Sight in Sarasota. Bill Lahners died Dec. 10, 2021, during a trip to the Bahamas. He was 53.

Inside Crystal Waters

Stofft Cooney Architects designed the home, and Florida West Builders completed construction in 2024. Kim Ogilvie and Lynn Morris of the Kim Ogilvie Group at Michael Saunders & Co. represented Lahners in the sale.

The main residence spans more than 10,200 square feet and includes five bedrooms, six full bathrooms, and two half-bathrooms. The property has 217 feet of direct frontage on Little Sarasota Bay, along with a guest house, tennis court, and private tennis pavilion.

A 56-foot vanishing-edge saltwater pool sits near the bay. The estate also includes a 90-foot dock with deep-water access, a floating kayak launch, and a 20,000-pound boat lift.

People Involved In The Deal

Edward and Julie Burke bought the property, according to Douglas Elliman, the firm that represented them. Andrew Greenwell and Kelly Mooney of Douglas Elliman specifically represented the Burkes.

The transaction closed last Thursday, Sept. 17. The sale price and the property’s prior listings have established a new benchmark for Sarasota’s high-end waterfront market.