JMC to build new condos in downtown St Petersburg
April 27th, 2013 categories: Downtown St Petersburg Condos
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?
April 25th, 2013 categories: Downtown St Petersburg Condos
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
April 18th, 2013 categories: Downtown St Petersburg Condos, Vinoy Place
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
April 17th, 2013 categories: Bayfront Tower, Downtown St Petersburg Condos, Market Updates
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 Downtown St Pete Condos
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Signature Place Market Update for 1st quarter 2013
April 16th, 2013 categories: Downtown St Petersburg Condos, Signature Place
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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2012 Market Update: Bayfront Tower condo in downtown St Petersburg, Florida
January 15th, 2013 categories: Bayfront Tower, Downtown St Petersburg Condos, Market Updates
Bayfront Tower condominiums
In 2012 there were 24 condominiums in Bayfront Tower condfo that sold, ranging from $220,000 to $750,000. The average price was $448,104. Prices per square foot ranged from $114 to $319, with an average of 198. In 2011 there were 17 sales, ranging from $165,000 to $750,000 with an average price of $356,182. Prices per square foot ranged from $123 to $243. So the average price increased by 26% from 2011 to 2012. Of the 22 sales, there was one short sale and one foreclosure sale. for just over 8% of total sales. A variety of floor plans sold during the year, ranging from 1,146 sq ft to 3,336 sq ft. Of 13 basic floor plans, 12 of them sold last year. Two double units sold as well. The most popular units were the 02 on the water side and the 11 on the city side, each with 4 sales during 2012.
Check BAYFRONT TOWER CONDOS FOR SALE here.
Call or email The Simms Team at ALVA International, Inc. for additional information or to see any of these condos.
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Vinoy Place Market Statistics 2012
January 13th, 2013 categories: Downtown St Petersburg Condos, Market Updates, Vinoy Place
Vinoy Place condos
During 2012 Vinoy Place had 12 condominium sales, ranging from $765,000 to $1,576,500, with an average sale of $1,133,042. Units ranged from 2,600 sq ft to 4,457 sq ft. The price per square foot ranged from $300 to $372. Four of the sales were townhomes and the rest were units in the four towers. The average price in 2012 was 30% higher than in 2011, which had 8 sales.
Check VINOY PLACE CONDOS FOR SALE here.
Search downtown St Petersburg condos for sale.
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Downtown St Petersburg rental market
December 20th, 2012 categories: Downtown St Petersburg Condos
Downtown St Petersburg
The downtown St Petersburg rental market currently has very few choices for prospective annual renters. For short term vacation rentals there is generally nothing available – almost all of the downtown St Petersburg condos have a minimum one year rental period. Those few exceptions that allow shorter rentals limit the number of times a year the unit can be rented (one at Parkshore Plaza, three at Signature Place, for example). So, unless an owner is Read the rest of this entry »
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Declining Inventory of homes for sale in St Petersburg Florida
September 7th, 2012 categories: Downtown St Petersburg Condos, Market Updates
We’ve been talking about the declining real estate inventory of homes for sale in many of the local St Petersburg neighborhoods. Here are some statistics as of September 1, 2012:
Single family homes for sale in St Petersburg: 863 homes for sale, 1,036 homes under contract – so 20% more homes are under contract than available.
Downtown St Petersburg condos: 25 condos for sale, 30 condos under contract. Again, 20% more under contract than available.
This doesn’t apply to all neighborhoods, of course. In Broadwater, for example, there are 10 waterfront homes for sale compared to 2 waterfront homes under contract.
We at The Simms Team didn’t have a summer slowdown – all three of us have been busy selling homes and condos all summer.
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Market Update for Downtown St Petersburg condos July 2012
August 3rd, 2012 categories: Downtown St Petersburg Condos, Market Updates
Landmark tower at The Vinoy
Market Update for downtown St Petersburg condos through July 2012:
On August 1st, 23 downtown St Petersburg condos were listed in the MLS, slightly over 1% of the 2,000+ condominium units in downtown St Pete. This is the same number as last month, but not all the same units! 24 condos sold in downtown St Pete during July 2012, so you can see that we have about a one month supply of condos for sale. The sold condos ranged from $55,000 for one at Flori de Leon to $1,440,000 for a townhome at Vinoy Place. The average sale price during July was $492,792.
The 23 condos available on August 1st range from $69,900 for a 707 sq ft unit at Flori de Leon to $3 Million for a penthouse at Vinoy Place. The average price is $938,229. A breakdown of prices on the available condos follows: Read the rest of this entry »
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