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Vinoy Place condo Market Update 4-23-13

Vinoy Place pool area

Vinoy Place pool area


Vinoy Place Market Update 4-23-13

The Vinoy Place condos have had two sales so far this year, one at $850,000 and one at $1,675,000.  The average price per square foot is $401, an increase of 22% over last year’s average $/sf of $328.   The average sale this year is $1,262,500, an increase of 13% over last year’s average sale of $1,133,042.  One penthouse, listed at $2,920,000 is under contract. There are two active listings, one at $975,000 and one at $1,129,000.

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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.


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Vinoy Place Market Statistics 2012

Vinoy Place condominiums

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.


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Statistical update for Vinoy Place condominiums in downtown St Petersburg as of 8-19-12

View of the Vinoy Place luxury condominiums in downtown St Petersburg Florida

Vinoy Place condos

Statistical update for Vinoy Place condominiums in downtown St Petersburg as of 8-19-12:

Each year in August the Pinellas County Property Appraiser’s Office sends out TRIM notices of the value of properties as of January 1, 2012, which is the basis for 2012 property taxes. I like to analyze the changes in “just market value” for the various condos.  The average “just market value” at Vinoy Place Condominiums increased 18.4%.  At Vinoy Place that average doesn’t mean a lot, though, since different floor plans ranged from -2.3%% to +36.8%.

There are several ways to slice and dice the data.

I’ve excluded the townhomes and penthouses from the rest of the data since they are unique properties.  The townhouses increased the most of all at an average of 30.9% (though they ranged from +22.2% to +36.8%, with the largest units having the lowest increase). The penthouses increased by 7.6% on average, and were consistently between 7 and 8%. They have between 5,000 and 5,500 sq ft.

Looking at the height or floor of the units: most of the tower units from floors 5-12 increased by 20-21%. The smaller units on the first and second floor of Buildings 3 and 4 increased 18-19%. Units on the third floor has the smallest increase with an average of 2.1%, with variations from -2.3% to +9.3%. It appears view obstructions make a big difference. Fourth floor units had an average 7.4% increase, but again varied from +3% to +13.6%.

There was less variation between floor plans (6.1%) and still less by building (2.6%).

Keep in mind that these values are now “old” since they don’t reflect any sales in 2012. Contact The Simms Team to learn more about how values have changed this year.

Vinoy Place currently has 63% of the condos with homestead exemption. Only 1 of the 102 units has a foreclosure lien.

TRIM notices have been mailed out and owners have 25 days from the mailing to file a petition with the Value Adjustment Board. The exact deadline is printed on the bottom right of the TRIM notice.  Only the value is at issue now as the tax/millage rates have not been finalized.

If you’d like more details on these statistics, contact Sharon Simms of The Simms Team at ALVA International, Inc real estate or contact the Pinellas County Property Appraiser. The Simms Team is nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.

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St Petersburg Penthouses: Vinoy Place

 Vinoy Place has four towers so it has four penthouses. Each one is the entire top floor. The sizes range from 5,013 sq ft to 5,359 sq ft plus lots of balcony space. The elevators have fobs so that each owner can have complete privacy or can allow guests to stop at their condo. Parking is covered and most of it is under the buildings. The towers at Vinoy Place are mid-rises so each of the penthouses is on the 13th floor. 

The amenities at Vinoy Place include a security gate that is staffed 24/7, two pools, a conference room, a billiard room, a TV area, a catering kitchen and various gathering rooms. There is an onsite manager. Vinoy Place does not have a fitness center as the developers expected that most owners would join the Vinoy Club and use the fitness center at the adjacent Vinoy Resort. Many owners do join the Vinoy Club to also use the tennis courts, golf course and marina.

One of the penthouses at Vinoy Place is currently on the market at $3,200,000. Please contact The Simms Team at ALVA International, Inc for more information or to arrange a showing.

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Vinoy Place Market Update as of 12-1-2011

Here’s the November 2011 market update for Vinoy Place:

According to the My Florida Regional MLS, there were 5 condos for sale in Vinoy Place as of December 1st, ranging in price from $1,195,000 to $3,200,000.


There were no Vinoy Place closings in November. There have been 7 Vinoy sales this year from $415,000 to $1,275,000.

As of December 1st, no Vinoy Place condos for rent were in the MLS. There has been one rental this year, for $3,800 per month.

Call 727-898-2582 or email The Simms Team at ALVA International, Inc. for more information on Vinoy Place or to see any available condos for sale in Vinoy Place.

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Vinoy Place market update – July 11, 2009

Vinoy Place poolVinoy Place condos is proof that it’s all about location, location, location. For downtown St Pete resale condos over $500,000 there’s a 10 year supply – but at Vinoy Place there’s less than a one year supply.

Currently there are 9 condos listed for sale in the MLS at Vinoy Place, ranging from $595,000 for an 1,875 sq ft unit (a short sale) to $2,200,000 for a 4,033 sq ft townhome. The typical units range from 2,649 sq ft to 3,373 sq ft and range currently from $990,000 to $1,399,000.

So far in 2009 there have been 5 sales in Vinoy Place, ranging from $775,000 to $1,200,000.

If you’d like help buying or selling in Vinoy Place, please contact The Simms Team at ALVA International, Inc. We’re right nearby at 238 Beach Drive NE, across from the Museum of Fine Arts.

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Downtown Condos

Notes from Rob:

Usually I sleep very well, but from 4 a.m. on this morning, I could not get downtown condos out of my mind.  Can’t explain it, maybe just because so many conversations at the office lately have been on the topic.  I keep telling clients about the great deals at Signature Place if you want to get into a stunning new building at a low cost.  The building should be finished this month and owners start closing on the units next month.  Will be nice to see some real activity in the building other than construction crews.

400 BeachThis week lots of talk about 400 Beach and the financial situation of its developer.  If you like modern and want a view of Tampa Bay, this is your chance since they are taking unsecured offers on all the units still unsold.  Don’t know what they will accept, but if you loved the $850,000 unit, you could offer $550,000 and see what they say.  No money down and no commitment…could be a great opportunity.

Vinoy PlaceThen my mind would wonder off to Vinoy Place.  I want to sell one unit that I think is special.  Had some clients that I thought were very interested…turned out the “buyer” was just showing off for his girlfriend and was in no position to buy.  Oh well, we keep trying.  But one of these days I am going to find the right buyer for the unit.  We actually had clients in it years ago, but had to sell when they moved overseas.  They still miss the unit.  On the 5th floor with great views.  The seller just lowered the price $100,000.  Someone is going to get a good deal.

Don’t know why these buildings were keeping me from sleep this morning, but they were.  One of the nice things about our office is that I can see all of these buildings from out front and when I am discussing them with clients, I can just take them outside and point to them all as I go over the pros and cons of each.  Because if you know me, you know I like to talk, and I love to talk about real estate, St Petersburg, and my family.

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