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Countdown at Ovation: only 4 new condos left




Ovation, the premiere luxury condo in downtown St Petersburg, is on the final stretch with only 4 new condos still available. The least expensive is $1,590,000. Two of the four available can still be customized with your choices (included in the price). If you want it finished your way, now’s the time to buy.

For buyer representation at Ovation, contact The Simms Team.


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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 St Petersburg luxury condos – Market Report 7-7-09

Signature Place condominiums in downtown St Petersburg Florida

Statistics for downtown St Petersburg luxury condominiums really get skewed when you combine old and new condos.

For existing downtown luxury condos, so far in 2009 there have been 7 sales between $500,000 and $999,999 and 1 sale over $1 million. With  51 condos on the market that’s a 15.6 month supply of condos. When you break that down, though, there’s a 26 month supply of condos from$500,000 to $999,999 and a 10 year supply of condos over $1 Million.

Now – enter Signature Place. Signature Place began closing on their new condos on June 24th, and have reported 9 closings in the MLS – doubling the entire sales supply so far this year, both in total, and in units over $1 Million.

Combining new and old, inventory would drop by half, which wouldn’t be a true picture for the resale market. Keep in mind that most of the new sales went under contract 3 years ago.

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Million Dollar Condo Sales in downtown St Petersburg Florida

Luxury condos in downtown St Petersburg Florida

So far this year only 1 downtown St Petersburg condo has sold at over $1 Million – a developer’s unit that sold this month for $1,200,000. To be fair – there was one more that sold at nearly $1 Million – a Parkshore Plaza resale condo that sold at $999,000. There are currently 29 condos on the market above $1 Million and 4 under contract.

Looking at the $1 Million+ condo market in Pinellas County, Florida, there are 203 units on the market, 14 under contract, and 8 sold.

“Under contract” doesn’t mean that it WILL sell, or that it will sell soon. Some are condos under construction and others are short sales, which are subject to bank approval.

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Florencia overview

The Florencia, a luxury condominium on Beach Drive in downtown St Petersburg was developed by JMC Communities, a high quality local builder. Built in 2000 it is 21 stories high and has 49 residential condominiums and there are two retail stores on the ground level. Each unit has two spaces in the gated, covered garage. The primary common areas are on the third floor and include gathering rooms, a catering kitchen, a billiard room, a fitness center and 1 condo unit. Floors 4-19 have three units per floor (except for two double units) and each of the top two floors is a penthouse. The pool and spa are on the west side of the tower, with gardens on the south side. The adjacent Hampton Inn provides spillover space for your guests. There is a 24 hour concierge on duty. Condos are in the $1-2 Million range.


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Grand Bohemian Residence Amenities – St Petersburg, Florida

The Grand Bohemian condominium residences in downtown St Petersburg, sitting atop the Grand Bohemian Hotel, will have their own private entrance and lobby (complete with the art so typical of Kessler’s buildings) and a private club room lounge with kitchen. They will also have the use of the hotel facilities including the Poseidon Spa and Fitness Center, the Grand Bohemian Art Gallery, two gourmet restaurants, the Bosendorfer Lounger, and Bohemian Cafe and Market, and a 24-hour business center. Residents will have valet parking, or they can choose to park themselves.

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Grand Bohemian Residences to offer top line appliances

The Grand Bohemian Residences in downtown St Petersburg, Florida, will offer Snaidaro Italian cabinetry in the kitchens and will have Wolf, Sub-Zero and Miele appliances. Add marble countertops, hardwood flooring, high ceilings, and terraces, and you begin to see the luxury lifestyle available here.

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Florencia tour

The Florencia, a luxury condominium in downtown St Petersburg on Beach Drive, was built by JMC Communities, a well respected local developer, who builds a quality product and stands behind it. The decor of the common areas is traditional and inviting. The majority of the amenities are on the third floor and the pool/spa area is on the western side of the building. The main gathering room and outdoor gardens overlook South Straub Park, the Municipal Marina and St Petersburg Yacht Club Marina, and out into Tampa Bay.

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Florencia location in downtown St Petersburg

Florencia, a luxury condominium at 100 Beach Drive NE in downtown St Petersburg, FL, across from South Straub Park and overlooking the St Petersburg Municipal Marina and the St Petersburg Yacht Club marina, then out into Tampa Bay.

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Pinellas County Florida has record condo sale

Pinellas County had its first closed condo sale over $4 Million. JMC Communities sold one of its Residences at Sandpearl Resort on Clearwater Beach earlier this month for $4,400,000. To my knowledge this is the most expensive condo sale in Pinellas County. I know of 5 condo sales in the $3 Millions. It’s interesting to note that 3 of the 5 most expensive condo sales were in JMC Community Developments. Two sold this year on Clearwater Beach, another in the Residences at Sandpearl Resort and one just to the south in Mandalay Beach Club. The third sold in 2005 in the Grande on Sand Key, just south of Clearwater Beach.

The two other condo sales over $3,000,000 were in downtown St. Petersburg – one last December in Parkshore Plaza for $3,750,000 and one in 2005 in Vinoy Place for $3,400,000. I’m aware of at least one pre-construction condo contract over $5 Million, also in downtown St. Petersburg in the Grand Bohemian – but it’s closings that are proof of the pudding.

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