Summer Cove on Siesta Key is scheduled to be topped off this week, marking the halfway point in the condominium development's construction. Located on the site of the old Summerhouse restaurant on the bay side Siesta Key (GMAP), Summer Cove features 45 three- and four-bedroom residences, priced from just under $1 million. There are currently 9 units left.

So, when the Sarasota Herald Tribune runs out of gloom-and-doom real estate stories to talk about, what does it do? It comes up with a story about a secret society of area realtors. I guess the jig is up...because when something makes the front page of the week's business section...well, then it's really not so secret anymore, now is it? And even though most of it's alleged members--the Pinnacle of the area's top real estate agents (minus a few who were...ahem...not invited to join)--aren't spilling the beans...there must be something to all the talk. They even have secret meetings:

On the first Monday of the month, full moon or not, members of the Pinnacle gather, usually at elegant seaside estates, to discuss who knows what while wining and dining in secluded splendor.

It's all very Skull-and-Bones meets Barbara Corcoran, isn't it?

Together, they've closed over a billion dollars in residential transactions--well, maybe together is a strong word as we still don't know who they are--many of those interviewed for the story still aren't talking, but a few are, and claim it's a great business collaboration network. I wonder if they have a secret handshake?

Secret society draws in some heavy hitters [Sarasota Herald Tribune]

Located right in the heart of Downtown Sarasota (GMAP) at the confluence of Main Street and Central and Pineapple Avenues, and with only 50 condominium units, The Plaza at Five Points was one of the first of Sarasota's new wave of high-rise condo residences/retail complexes to complete construction. The building features 4 penthouse residences and "breathtaking vistas of Sarasota Bay." Since January 1st of this year, there have been 10 sales in the building ranging from a low of $767,500 for 12th floor unit to a high of $1,950,000 for one of the four 3500+ square foot penthouses. There are currently only 2 resales available.