Signature Place
Signature Place condominiums are one of the newest high rise condominiums in downtown St. Petersburg. The first condos were sold in June 2009. All of the units have been sold. At 36 stories (with 244 condos), it’s the tallest building in St Pete. It’s architecturally unique, shaped like a sail, and every tower unit has a view of Tampa Bay. Designed by Ralph Johnson, the building is truly a signature for Johnson and for developer, Joel Cantor. Signature Place condo units range from 846 sq ft to 5,883 sq ft.
Check SIGNATURE PLACE CONDOS FOR SALE here.
For more information or to see available properties please email The Simms Team or call ALVA International, Inc. at 727-898-2582. Our real estate office at 238 Beach Drive NE in downtown St Petersburg is within walking distance of Signature Place. Look for the red awning across from the Museum of Fine Arts.
Signature Place condos Market Update 12-1-2011
December 1st, 2011 Categories: Signature Place
12-1-11 Market Update for Signature Place condos in downtown St Petersburg Florida:
According to the My Florida Regional MLS there were 6 condos actively for sale at Signature Place on December 1st, ranging in price from $250,000 to $335,000.
Check SIGNATURE PLACE CONDOS FOR SALE here.
There were 3 condos sold at Signature Place during November 2011, ranging in price from $250,000 to $335,000. This brings the total sales for 2011 to 15 condos, priced from $200,000 to $785,000.
Signature Place had no condos for rent as of December 1st. So far in 2011 there were 14 condos rented at Signature, ranging from $1,550/month to $5,250/month.
For more information or to see available properties please email The Simms Teamor call ALVA International, Inc. at 727-898-2582. Our real estate office at 238 Beach Drive NE in downtown St Petersburg is within walking distance of Signature Place. Look for the red awning across from the Museum of Fine Arts.
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Signature Place St Pete prices are rising
May 12th, 2011 Categories: Signature Place
Signature Place St Petersburg
Signature Place St Petersburg prices are rising. There have been 9 sales this year in Signature Place in downtown St Pete. One, in January, was the last developer sale. The other 8 are resales, all of which sold for more than they were purchased for. The increase in sale price runs from 5% to 25%. In the highest increase, we represented the buyers when they bought last October, and represented them in the sale in April for 25% more than they had paid. As we’ve often said, it’s a case of Supply and Demand. Only two units are currently listed for sale – one at $489,900 and the other at $1,328,000.
For more information on Signature Place and other downtown St Petersburg condos, contact The Simms Team at ALVA International, Inc. We’re across from the Museum of Fine Arts under the red awning that says REAL ESTATE.
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Signature Place Resales
May 5th, 2011 Categories: Signature Place
Signature Place St Petersburg
Notes from Rob
In January the developer sold the last of the original units in the building to make Signature Place sold out. The newspaper claimed that had happened last year, but the honest answer is that the last unit closed this year. Now we can discuss resales. As we talk about resales, we need to look at them as BA and AA. For those who bought before the Auction in March 2010, it will take much longer for them to sell at a price near what they bought for. Of the three resales from units originally bought in 2009, the resales in 2010 after the auction was considerably lower than their purchase prices (about 28% lower). However, there have now been six resales for units purchased at or after the auction. The have all sold between 10 to 25% above their purchase prices. Of course, the lower the purchase price, the higher the rate of return. Great for the owners, but tough on buyers who want to get into the building. Right now there is only one unit for sale in the building, which is on the 27th floor for $489,000. If you are interested in becoming my 14th sale in the building, give me a call!
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Signature Place
September 2nd, 2010 Categories: Signature Place
Signature Place condos
Notes from Rob:
A lot has happened to Signature Place since pre-construction sales started in 2006. Initial sales went very well, despite the market as it was starting to turn down. But by the time the building was completed in 2009 the market was down significantly and many of the buyers were questioning their investment. The developer then significantly dropped their prices for everyone in a hope to lure new buyers and keep the existing ones in check. That helped with some, but not others. Financing had tightened, especially for investors. By the beginning of 2010, about 80 Signature Place units had been sold of the 244 total. At that point the lenders wanted something to happen and in March an auction was held and 60 units were quickly sold. Since then sales have remained steady. As of yesterday, there are about 20 units under contract, and only 9 left for purchase with prices ranging from $185,000 to $1,044,000 (for the small penthouse). Soon they should be able to finally say the building was sold out. It was not as quick as they had hoped, but in today’s real estate market, selling out a condo building with 244 units in just over a year after completion is a success story. The developer actually raised the prices on 2 of the remaining 9 units at Signature Place, citing supply and demand. If you have liked the project and were waiting to see what happens, your chance to get in at the beginning is almost over. If you are interested in seeing any of the units still available, give us a call at ALVA International, 727-898-2582.
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Signature Place back on track
July 15th, 2010 Categories: Signature Place
Notes from Rob.
Since the March auction, sales at the Signature Place condos in downtown St Petersburg were moving along at a brisk pace. At last count, 198 of the 244 units have been sold and another 15 were under contract. I was very happy as 5 of the sales were with clients of mine and each of them is very happy with their purchases. As sale number 6 came up, everything was put on hold due to a disagreement between the developer and the title company. Needless to say my clients and I were not happy. But I was still confident things would get resolved and I continued to show my clients the building. Of course, while on hold, new contracts could not be written. Very frustrating for clients who want to buy. Had two clients on “hold.” Luckily, last Tuesday evening I opened an email to find out everybody was happy again and signing Kumbaya together. Contracts were quickly written and closings scheduled. As of today, only 16 units are left and they are on the lower floors (one exception for $639,000) and little to no view, but a 1-bedroom, 1 1/2 bath unit with a den can be had for only $165,000. It is take it or leave it, as the developer has set the prices and will not budge, will not throw in curtains, will not pay your closing costs (I’ve tried them all). It looks like people are buying and it won’t be long before the building is sold out, which will be a great turn around for the building over the past year. If you are interested in seeing any of the last 16 units, give me a call and I’ll get you in.
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Signature Place condos selling quickly in St Petersburg Florida
April 29th, 2010 Categories: Signature Place
The Signature Place condos are selling quickly in downtown St Petersburg, Florida. The recent condo auction at Signature Place started a buzz that hasn’t stopped. At the end of 2009, approximately 100 condos out of 245 had sold and closed since the start of closings in June 2009. Right now there are only 21 tower condos left at Signature Place and 16 “city” units. We’ve also found that the Signature Place condos for rent have been renting quickly. Contact The Simms Team at ALVA International,Inc. for more information on Signature Place condos for sale or for rent.
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Signature Place Market Update 3-22-10
March 22nd, 2010 Categories: Signature Place
The recent auction at Signature Place condo in downtown St Petersburg has certainly been successful. Counting those units sold at the auction, in the last two weeks a total of 92 units have gone to contract. In addition to the 102 units Signature says have closed from sales prior to the auction, that brings the total to 194 units out of 244, which is 79.5% of the units. The remaining condos are being shown by appointment only, and all the appointments are booked days ahead. I’d say the auction at Signature Place was a definite success!
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Signature Place: Going Once, Going Twice, SOLD!
March 7th, 2010 Categories: Signature Place
Signature Place condos in downtown St Petersburg Florida
The Signature Place auction was held this afternoon and must be deemed a success. The space was Standing Room Only, all the units were sold, plus an additional 10 units that were added, and all of them sold above the minimum bid.
Depending on the floor plan, units sold from 22% to 73% over the minimum bid. Winning bids ranged from $174,000 for an 859 sq ft unit to $742,000 for a 2,319 sq ft unit. The average price per square foot also was a wide range, from $200/sf to $320/sf. Comparing the winning bids to the last asking prices, they ranged from 25% less to 53% less.
The most popular plan appeared to be the H plan, the long narrow plan in the northeast corner of the building. With 1,829 sq ft the average sale price was $515,250 which is $276/sq ft. The average price was 63% above the minimums set.
Additional units were being sold individually, at prices determined by the auction – none to be sold for less than the winning bids, adjusted by floor. This was still going on when I left, so I don’t yet know how many more sold then.
We should know prices on the remaining unsold units on Tuesday morning, when sales will be handled in the normal manner. Call your agent, or us, for more information.
The SIMMS Team at ALVA International, Inc. (727) 898-2582 at 238 Beach Drive NE in downtown St Petersburg.
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Signature Place Auction Day Checklist
March 5th, 2010 Categories: Signature Place
Signature Place condos common area overlooking Tampa Bay
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Signature Place Auction Day Checklist
____ 1. Make sure you have submitted your yellow Auction Registration card by Saturday, March 6th.
____ 2. Bring a certified check made out to yourself for $7,500.
____ 3. Bring a personal check. This should be left blank and will be used as your deposit – the difference between 10% of your successful bid and the $7,500.
____ 4. Bring photo identification: driver’s license or passport.
____ 5. Bring your preapproval letter from one of the three approved lenders, if you plan to have your contract subject to financing.
____ 6. Be at the Hilton Bayfront Hotel by noon on Sunday, March 7th. Better to be there by 11:30 am and get the order of the condos being auctioned, so you can finalize your bidding strategy.
Suggestions:
Review the Signature Place condo docs.
Review the Signature Place purchase agreement.
Preview the condos you’re interested in to check out whether flooring coverings have been installed and which colors and finishes were chosen for the kitchen, as well as checking how the floorplan “feels”, the view, and the size and shape of the balcony. (You can e-mail Rob Johnson to get a link to photos of all the units)
Attend the Signature Place Practice Auction on Saturday, March 6th, 2010 at 4:30 pm at the Hilton St Petersburg Bayfront.
ALVA International, Inc. at 238 Beach Drive NE, St Petersburg, FL 33701 will be open on Saturday, March 6th from 10 am to 4 pm. Stop by if you have any questions for The SIMMS Team.
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Signature Place auction is Sunday – get ready
March 4th, 2010 Categories: Signature Place
Signature Place condo in downtown St Petersburg Florida
Your Signature Place auction registration form (the yellow card) must be given to Signature Place by Saturday if you plan to attend the auction on Sunday. This form is in addition to the Visitor Registration you would have signed to enter Signature Place and in addition to a Broker Registration Form, if you have a real estate agent representing you.
You cannot just show up on Sunday and decide to attend the auction, even if you have your checks with you.
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