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Sales picking up in downtown St Petersburg luxury condo towers

Public records reveal two recent sales in luxury condos in downtown St Petersburg, Florida. A "front unit" (full view of Tampa Bay to the east) in both The Florencia and Parkshore Plaza were sold recently.

An 03 unit in Parkshore Plaza sold in mid-July for $1,500,000. Parkshore Plaza has four units per floor on most of the tower floors and the 02 and 03 units face directly east. Parkshore Plaza was completed in 2006 and has 120 units, including 2 commercial units on the ground floor. It’s located at 300 Beach Drive NE. The popular Parkshore Grille restaurant is on the ground floor, with both inside and outside dining areas. Several retailo outlets line both Beach Drive and 3rd Avenue NE. Opus is th developer, who is nearing completion on 400 Beach, one block to the north.l

An 02 unit in The Florencia closed in August for $1,250,000 – an "inside sale", meaning that it was sold to another owner currently residing in the building. There are 50 units in this JMC development at 100 Beach Drive NE, including 2 retail spaces on the ground floor. It was completed in 2000. There is not a lot of turnover in this building – 75% of units are owned by the original purchasers. JMC has started construction on Ovation, just across the alley to the north on Beach Drive.

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