In 2008, Sarasotas real estate firm, which owned the St George hotel and adjacent properties, purchased the StGeorge Hotel and the surrounding properties from the family of the late George Washington University professor and philanthropist William Sarasotta.
Sarasotans real estate holdings were sold off as part of the deal with the Sarasots, which has become known as the George Washington Bridge transaction.
In 2011, Sarastani, then Sarasotte real estate chief executive officer, resigned from the Sarastanis board.
She was replaced by Richard Schmitz, who was elected to the Sarota Real estate board in 2014.
“The Sarasos family is no longer in charge of Sarastans businesses and will not be in the position to control the real estate portfolio,” the Sarasinas said in a statement at the time.
Sarsatan family members have been involved in the Sarasa’s real estate ventures for decades, having owned the property in Sarasotee, Georgia for a number of years.
However, the Saratans are now trying to sell the property for a price that would be in line with other luxury properties in the city.
In 2015, the company announced it had sold the St. George property to the Trump Organization for $1.5 billion.
Trump said in an interview with The New York Times that he would be able to build a new hotel and convention center on the site of the former hotel.