SIESTA KEY  –

A long-vacant condominium pad of slightly less than an acre will become the Oceane condominium, with construction beginning when about half of the six luxury units are under contract.

Crossgate Partners’ managing partner Randy Moore is developing the project, which he calls the first condominium to be built on Siesta Key since the Hyatt Siesta Key fractional-ownership building went up in 2009 south of Stickney Point Road. Oceane will be built at 4740 Ocean Blvd., north of Siesta Village.

The Oceane units, two to a floor above a ground-level parking area, will have 4,500 square feet with about 700 square feet of terrace facing the Gulf of Mexico. Prices start at $3,873,000.

“The people who can afford it appreciate having more than one place they can call home throughout the year,” said Moore, of Atlanta. “Without sacrificing size or security or luxury, they can have a condominium that is in many ways equivalent to a single-family home on Siesta Key.”

Crossgate also developed Infinity, an 11-unit building on Longboat Key that was designed by Mark Sultana of DSDG Inc. Sultana is designing Oceane, as well, with the “coastal contemporary” architecture that he has helped popularize.

Amenities include a resort-style pool with cabanas — one per unit. Views stretch north to the skylines of Lido and Longboat keys.

The project is being marketed by Peter Laughlin of Premier Sotheby’s International Realty. Laughlin has the property under contract with seller Jefferson Development Group of Louisville, Kentucky, which bought the property for $2.7 million in 2013.

Laughlin and Moore would not disclose the selling price of the $5.79 million listing, but they said the closing is expected soon.