Oyster Bay is a lush tropical neighborhood bordering on Sarasota Bay and one of the city's most venerable private clubs, The Field Club. A private and prestigious location, avid boaters will enjoy deep sailboat waterways and sweeping views of the bay. ... more. Oyster Bay's distinguished Sarasota neighborhood features classic old Florida homes, single-story Florida ranchers, executive residences and waterfront mansion estates. Home sites are generously proportioned to make way for large residences, many with water frontage on the Gulf, bay or canals.