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More planned construction for 4th Avenue N in downtown St Petersburg

Buildings to be cleared for Regents Lane.

The “Before” of Regents Lane

Regents Lane is the latest condo project planned for Fourth Avenue North. It’s been a busy block from Beach Drive to 1st Street N.  This appears to be on the same land as the previously announced O.N.E project (not to be confused with the ONE project).

Between Beach Drive and 1st Street North, Rowland Place, a 17 unit condo developer by JMC, was completed and began closings in March. Bliss, with 29 units, is under construction. Three units remain available at Bliss, from $846,900 to $2,915,900.  The former P. Buckley Moss museum is being transformed into a single family residence.

Between 1st Street North and 2nd Street North, Frank Menna and Steve Gianfilippo announced The Brownstones, a row of five 4,000 sq ft homes with space for professional offices below and with roof decks. Preconstruction prices are expected to be between $1.3 million and $1.8 million.

Newly announced by NJR Property Investments on that same block is Regents Lane at 141 Fourth Avenue N. These townhomes will be 2,335 sq ft in four stories. Each will have a 2 car garage, 3 bedrooms, 3.5 baths, a private elevator and a rooftop deck. Prices are expected to range from $848,500 to $928,000. Older buildings now on the property will be torn down to make room for Regents Lane.

You can contact The Simms Team at Coastal Properties Group International, Christie’s International for representation in purchasing a preconstruction or existing property.

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Still a sellers’ market for downtown St Pete condos

Compared to a year ago, we started 2014 with 55 downtown St Pete condos on the market, more than twice the number from a year before. However, downtown condos were selling at the rate of 24 per month during 2013 so that’s still only a 2.3 month supply of condos. A six month supply is considered a balanced market, so it’s still a seller’s market.

Active

<100K

.100-199K.

.200-299K,

.300-499K.

.500-999K.

.1-2 Mil. 

.2+ Mil.

Total

1/1/14

3

13

6

15

8

7

3

55

1/1/13

0

1

0

7

7

2

2

19

Downtown St Pete condos are listed from $60,000 to $2,499,000. As the table shows condos are available in a wide range of prices. For more information on any of the condos available, please call The Simms Team at (727) 898-2582  (or email them at info@SimmsTeam.com). For representation in buying or selling a condo, contact The Simms Team with Coastal Properties Group, affiliate for Christie’s International Real Estate.

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Moving a house

As you can see, moving a house in downtown St Petersburg is not a one day job. Compare this week's photo of the house being moved from the site where JMC will be building the Rowland Place condominiums.

Contact The Simms Team at ALVA International, Inc. about purchasing one of the remaining 4 Rowland Place units.

 

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Rowland Place moving forward

Home being moved for Rowland Place

Site for Rowland Place

Yesterday there was activity at Rowland Place – the existing home was being prepared to be moved, the first step in clearing and preparing the land for construction.

Only 4 condominium units remain to be sold, all priced in the $700s. Units were available starting in the high $400s and progressing upwards, but all those have been sold. This is the latest developmenyt by JMC, who built Florencia and Ovation in downtown St Petersburg, Sandpearl and others on Clearwater Beach, Dolphin Cay and other developments.

Rowland Place is on 4th Avenue NE, just a half block off Beach Drive in downtown St Pete. Parkshore Plaza is in the background.

For information about purchasing one of the Rowland Place condominiums, contact The Simms Team at ALVA International.

 

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Downtown St Pete Condos: How much per square foot?

View of downtown St Petersburg Florida

Downtown St Petersburg

 

When looking at condos in downtown St Petersburg, buyers often ask how much per square foot they are selling for. Obviously location, condition and view have a significant impact on this. We can still look at averages, though. The two condominiums with average prices over $400/sq ft are Ovation and Florencia, both built by JMC Communities. So far this year, here is how it looks:

Over $400/sq ft:  Ovation and Florencia
$300-$400/sq ft:  Signature Place, Vinoy Place, Cloisters and 400 Beach
$250-$300/sq ft:  Parkshore Plaza, 475, Bayfront Tower and McNulty Lofts
$200-$250/sq ft: Huntington, Hotel Detroit, Madison, Townview, Snell Arcade and the Sage
$150-$200/sq ft:  Walker Whitney Plaza and Bayboro Tower
Under $150/sq ft:  the Beacon and Flori de Leon

Some condos stay close to an average, others have a wide range. At 400 Beach, for example, prices this year have ranged from $282/sq ft to $650/sq ft.

Appraisers don’t value a property by price/sq ft and neither should you. It IS interesting to know, though and a question that’s often asked.

DOWNTOWN CONDOS FOR SALE

 

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JMC to build new condos in downtown St Petersburg

Sign on 4th Ave NE announces new JMC condo in downtown St Petersburg

Coming soon: new JMC condo in downtown St Pete

 

Welcome and congratulations, JMC. We’re delighted to see you moving forward on your latest project in downtown St Petersburg.

This sign was up this morning at the corner of 4th Avenue NE and Rowland Ct NE (between 1st St NE and Beach Drive NE). The existing building will be moved to make room for the new structure.  It’s wonderful to see JMC offering more urban living homes in downtown St Pete.

The web site listed on the sign is only a registration form, at this point. The form does not have a space for you to fill in your Realtor if you’re working with one or choose to have one.  If you want Buyer Representation on your purchase,  please contact The Simms Team by email or phone (727) 898-2582 and we can register you. If you don’t know all the advantages of having a buyer’s agent when you purchase new construction, we’ll be happy to share the benefits with you.  Do remember – it doesn’t cost you any more to have an agent on your side.

 

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What’s the difference between a condo and a co-op?

Waterfront Park Co-op

Waterfront Park Co-op

 

What’s the difference between a condo and a co-op? The simplistic answer is that with a condo you own your unit plus a share in the common elements. You can take out a mortgage on your unit and only you are responsible for that mortgage. With a co-op, the co-op owns the building and you own a share in the co-op – so everyone would be affected financially if there were a mortgage default. In either situation, you’d pay a monthly fee for your share of costs.

New York City has a lot of co-ops, often costing many millions of dollars for a unit. You may have read about co-ops turning down famous people because they felt the publicity would be disruptive.

In St Petersburg, there are very few co-ops, but we do have them. For example, Waterfront Park, a building restricted to those 55 and older, is a co-op in downtown St Pete. There are currently three units available for sale, two 1 bedroom units for $60,000 and $80,000 and one 2 bedroom unit for $120,000.  The building is old – from the 1950s, with jalousie windows and wall/window air conditioning.

Another downtown St Pete co-op is the Flori De Leon, also for age 55 and older, built in the 1920s. In the Old Northeast.  Between 4th St and 9th St are Lake Palms and Suncoast Towers, both built in the 50s and both also age 55 and over.

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Vinoy Place condos Market Update 1st quarter 2013

Vinoy Place condominiums

Vinoy Place

So far in 2013 there have been 2 condominium sales in Vinoy Place in downtown St Petersburg. A 2,600 sq ft tower unit sold for $850,000 and a 3,529 sq ft townhome sold for $1,675,000. The price per sq ft ranged from $327 to $475, with an average of $401. That’s a 22% increase in the average $/sq ft from 2012 to 2013.

There is one unit actively on the market, a 3,000 sq ft tower unit for $1,129,000. A penthouse unit with 5,359 sq ft is listed at $2,920,000 and is currently under contract.

Check VINOY PLACE CONDOS FOR SALE  here.

Search downtown St Petersburg condos for sale.

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Bayfront Tower Market Update 2013 1st Quarter

Bayfront Tower Condominiums

Bayfront Tower condominiums

 

Sales at Bayfront Tower have been brisker in the first quarter of 2013 than in the last several years (the last year with the current rate of sales was 2004). There have been 7 sales in 2013, ranging from $320,000 to $721,000. Price per square foot ranged from $261 to $328, with an average of $282/sq ft, an increase of 42% over last year. Size of units that sold this year ranged from 1,146 sq ft for a 1 bedroom unit to 2,200 sq ft for a 3 bedroom unit.

Search Bayfront Tower Condos

Search Downtown St Pete Condos

 

 

 

 

 

 

 

 

 

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Signature Place Market Update for 1st quarter 2013

Signature Place lobby

Signature Place lobby

 

2013 is starting out as aa good year for sales in Signature Place in downtown St Petersburg. There have been 7 sales, about the same rate as sales in 2012.  Sales in 2013 have ranged from $390,000 to $625,000.  Price per square foot has ranged from $285 to $433.  None of the large units have sold in the first quarter, so there haven’t been enough sales to make overall conclusions. Well priced units are selling within days if not hours and multiple offers are not unusual.

Signature Place is one of the newest condominiums in downtown St Petersburg and is a very contemporary building with many amenities. For many people, the contemporary feel is more important than the small size of most units and the many angled walls and columns.

SEARCH FOR CONDOS FOR SALE IN SIGNATURE PLACE

SEARCH FOR CONDOS FOR SALE IN DOWNTOWN ST PETERSBURG

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