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Signature Place

Signature Place condominiums in downtown St Petersburg, FloridaSignature Place condominiums are one of the newest high rise condominiums in downtown St. Petersburg. The first condos were sold in June 2009 and 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.

There were 28 sales in 2012, ranging from $320,000 to $1,050,000, with an average price of $580,382.  Price per square foot ranged from $277 to $446. So far in 2013 there have been 7 sales, ranging from $390,000 to $625,000.

Amenities include a swimming pool and hot tub with spacious “grounds”,  a fitness center and two common rooms. Each unit has covered, secured parking. There is a concierge on duty and a management office in the building.

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.

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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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Signature Place Market Update for 2012

Signature Place condominium in downtown St Petersburg

Signature Place

2012 was a good year for sales in Signature Place in downtown St Petersburg. There were 28 sales, an increase of 75% over 2011.  The average sale price was $580,382, an increase of 41% over the average 2011 sale price. Looking at other criteria, the lowest sale price in 2012 was $320,000, an increase of 60% over the previous year. The high sale price in 2012 was $1,050,000, an increase of 33% over the previous year. The average price per square foot was $353 in 2012, an increase of 30% over 2011.  The units sold in 2012 ranged from 1,007 sq ft to 4,177 sq ft for an average of 1,638 sq ft. 64% of the sales were under 1,500 sq ft.

Looking at historical figures, the average Signature Place sale price in 2009 when the building was completed and first began sales, was $474,154 – so 2012 showed an increase of 22% above that.  The average Signature Place sale price in 2010 (the year of the big auction) was $371,641 – so 2012 showed an increase of 56% compared to 2010.

Signature Place is one of the newest condominiums in downtown St Petersburg and is a very contemporary building with many amenities.

SEARCH FOR CONDOS FOR SALE IN SIGNATURE PLACE

SEARCH FOR CONDOS FOR SALE IN DOWNTOWN ST PETERSBURG

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Statistical update for Signature Place in downtown St Petersburg

Signature Place condos in downtown St Petersburg

Signature Place

Statistical update for Signature Place condominium 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. The Just Market Value of Signature Place condos went up an average of 16.8% with a range for individual units from 0.2% to 31.7%. The average increase in the tower was 16.6%, in the east lofts 11.4% and in the west lofts 22.7%  There was more of a relationship based on size that on unit stacks:

Less than 1,000 sq ft    +25.8%
1,000 – 1,500 sq ft         +16.8%
1,500 – 2,000 sq ft         +14.5%
2,000-2,600 sq ft          +9.9%
4,000-5,000 sq ft          +0.2%
Over 5,000 sq ft              +7.5%

With only 2 units over 4,000 sq ft, the statistics on those are informational rather than statistically significant. In general, the smaller downtown St Pete condo units increased at a higher rate than larger units, so Signature Place follows in that trend.

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.

43% of the assessed condos at Signature Place have a Homestead Exemption.  According to public records, none of the condos have liens filed against them.

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  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.

Search for condos at Signature Place

Search for luxury condos in downtown St Pete

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Signature Place condos Market Update 12-1-2011

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.  Read the rest of this entry »

Posted by Sharon Simms | Currently No Comments »

Signature Place St Pete prices are rising

Signature Place St Petersburg

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

Signature Place St Petersburg

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!

Posted by Rob Johnson | Currently No Comments »

Signature Place

Signature Place condos

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.

Posted by Rob Johnson | Currently No Comments »

Signature Place back on track

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.

Posted by Rob Johnson | Currently No Comments »

Signature Place condos selling quickly in St Petersburg Florida

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.

Posted by Sharon Simms | Currently No Comments »

Signature Place Market Update 3-22-10

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!

Posted by Sharon Simms | Currently No Comments »

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