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Downtown St. Pete

SALTAIRE Condos Coming to Downtown St. Petersburg

The Kolter Group , developer of One St. Petersburg condos, is likely to announce their newest condo project in downtown St. Petersburg - SALTAIRE.

Preliminary plans call for a 408-foot tower that would rise on what is now a parking lot between the St. Petersburg Hilton hotel and the Northern Trust office building on First Street S. SALTAIRE hopes to boast 35-story condominium building containing approximately 200 residences as well as retail on the ground floor.

Location of SALTAIRE Condos

November 2018 Downtown St. Pete Real Estate Market Statistics

November 2018 was a Seller's market for Downtown St Pete! The number of for sale listings was down 17.9% from one year earlier and down 11.8% from the previous month. The number of sold listings increased 146.9% year over year and increased 113.5% month over month. The number of under contract listings was up 211.8% compared to previous month and up 202.9% compared to previous year. The Months of Inventory based on Closed Sales is 1.8, down 66.6% from the previous year.

The Average Sold Price per Square Footage was up 10.4% compared to previous month and up 50.5% compared to last year. The Median Sold Price increased by 11.2% from last month. The Average Sold Price also increased by 14.4% from last month. Based on the 6 month trend, the Average Sold Price trend is "Appreciating" and the Median Sold Price...

St. Pete panel approves $69-million tower that would replace affordable apartments

Tampa Bay Times Original Article

St.Petersburg Development Review Commission unanimously approved a 20-story tower that would replace several affordably priced apartment buildings.

Published December 7

ST. PETERSBURG — Unable to afford life in California any longer, Susan Olsen moved to St. Petersburg and found an apartment in a building downtown for $750 a month.

She might not be there much longer.

On Wednesday, the city's Development Review Commission unanimously approved a $69-million, 20-story tower that would replace several quaint old apartment buildings that...

Tampa Bay's newest, tallest condo tower is almost done, and units already are being flipped for big bucks

Though ONE St. Petersburg is not yet finished, some buyers hope to flip their units for hefty profits as Tampa Bay's luxury condo boom continues unabated.

By Susan Taylor Martin
Published December 6

ST. PETERSBURG — Less than a month ago, an investor paid $511,200 for a unit in Tampa Bay's newest condo tower, ONE St. Petersburg.

This week, she sold it — for $702,000.

Though the 41-story tower in downtown St. Petersburg is not yet finished, several buyers already have moved in while others hope to quickly flip their units — at hefty profits — as the bay area's luxury condo...

St. Pete 10 years after the recession: ‘Downtown real estate is going crazy’

A decade after the Great Recession of 2008, commercial real estate in St. Petersburg is booming.

Vacancy rates are at a 20-year low and lease rates are at a 20-year high for downtown office buildings. New economy companies, especially those in the life sciences and technology sectors, make up a growing percentage of the tenants downtown as their real estate needs match the available space. The city is poised to get its first new office building in the downtown core in nearly 30 years, and a pending project — the redevelopment of the 86-acre Tropicana Field site — is creating buzz nationwide.

“The type of people knocking on the door today has changed drastically,” said Alan DeLisle, a veteran economic developer who was named St. Petersburg’s city development administrator in 2014. “The quality and the types...

September 2018 Downtown St. Pete Real Estate Market Update

September 2018 is a Neutral market! The number of for sale listings was down 16.6% from one year earlier and up 11.5% from the previous month. The number of sold listings decreased 31.6% year over year and decreased 49% month over month. The number of under contract listings was down 2.8% compared to previous month and up 29.6% compared to previous year. The Months of Inventory based on Closed Sales is 5.2, up 21% from the previous year.

The Average Sold Price per Square Footage was up 8.9% compared to previous month and down 7.3% compared to last year. The Median Sold Price increased by 15.3% from last month. The Average Sold Price also decreased by 3% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Appreciating".

The Average Days on Market showed a downward trend, a decrease of 56.6% compared to previous year. The ratio of Sold Price vs. Original List Price is 98%, an increase of 6.5% compared...

St. Pete’s ‘Glass House’ condo hits market for $3.1 million

For a limited time, you could own the loftiest penthouse in the Tampa Bay area.

Glass House, a tri-level condo in downtown St. Petersburg’s Signature Place, just went on the market for $3.1 million. Spanning the 34th through 36th floors, it will be the area’s most skyward condo until the 41-story ONE St. Petersburg tower is completed later this year.

Since listing the unit last week, "I’ve already had two showings with potential,’’ agent Becky McConnell said.

The seller, who is building a home on Snell Isle, is asking $1.265 million more than he paid for the condo three years ago. He has not made any changes to the 4,177-square-foot unit, which had undergone a massive renovation by its previous owners, interior designer Rob Bowen and Bob Glaser, CEO of Smith & Associates Real Estate.

St. Pete’s ‘Glass House’ condo hits market for $3.1 million...

Pros and Cons of Condo Living

Pros and Cons of Condo LivingLiving in a downtown St. Pete condo can offer an exciting maintenance-free lifestyle, including luxury amenities that may not be available with single-family home living.  Many seek condo living for the magnificent views and metropolitan lifestyle. Is condo living for you? Here are a few things to consider:

Storage: Many forget about this aspect of condo living. Are you a packrat? Condo living may not be for you. Many buildings offer owners private storage for bikes, boxes, Christmas trees etc. It it something to think about if you are considering a downtown condo.

Noise:  Just remember that you are...

Downtown St. Pete August Market Update



Below is a chart showing inventory level, pended and sold properties in downtown St. Pete. Actually, it is for zip code 33701. Which includes homes and condos in nearby neighborhoods.

The data above shows that there were 38.9% more downtown properties sold in August of 2018 versus July of 2018. There are about 25% fewer downtown homes and condos for sale when comparing August 2018 to August 2017. For the same time period there were 28.2% more sold properties. When comparing the current quarter versus the same quarter in 2017 there is about 25% fewer properties for sale and 23% fewer sold properties. 

August 2018 is a Seller's Market in Downtown St. Pete

The number of for sale listings was down 24.7% from...

Downtown St. Pete church agrees to sell its parking lot for $5.6 million

Downtown St. Pete church sells parking lot

ST. PETERSBURG — A downtown congregation has agreed to sell a portion of its prime property to a Connecticut developer.

Christ United Methodist Church said it has signed a contract to sell its parking lot at First Avenue N and Fifth Street to Miles River Development for $5.65 million.

The developer could not be reached for comment, but church leaders say they believe there are plans to build a mixed-use tower on the little more than half-acre lot.

In an area zoned for mixed-use, the property is in the city’s downtown core district, which allows the highest densities and building height. Elizabeth Abernethy, the city’s zoning official, said there is no height restriction, but buildings more than 158 feet above mean sea level require an airport...