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Statistical Update: Parkshore Plaza luxury condo in downtown St Petersburg, Florida

Parkshore Plaza in downtown St Petersburg

Parkshore Plaza

Statistical update for Parkshore Plaza condominium in downtown St Petersburg as of 8-19-12.

Each year in August the Pinellas County Property Appraiser’s Office updates property records, reflecting changes in the “just market value” of a property and showing homestead exemptions for the current year. It’s interesting to analyze those statistics.

There are 116 residential properties at Parkshore Plaza. 63 of them have a homestead exemption on their property, which is 54% of the total. This doesn’t mean that the remaining 46% are rentals since some owners claim their primary residence in another state.

The annual change in “just market value” for a unit is down 0.44% but since the range is from +6.6% to -13.7% the average really doesn’t tell us a lot, especially in Parkshore. Keep in mind that although these figures are just now available, it’s really “old news” as this reflects values as of January 1, 2012. Please contact us for information concerning this year’s sales and trends.

Here are the averages by type of unit:

  • Unit 01:  +2.8%
  • Unit 02:  -2.4%  (this would be -2.1% if you exclude the one unit that dropped 10.6% in JMV)
  • Unit 03:  -2.4%  (this would be -2.1% if you exclude the one unit that dropped 10.6% in JMV)  In all but one case the JMV of the 02 and 03 on the same floor was equal.
  • Unit 04:  +0.9%  (an interesting note: the  average JMV on floors 4-15 went up 2.3% and on floors 16-27 dropped 0.4%)
  • Double 01-02 unit:  up 0.4%
  • Penthouses: up 0.8% (ranges from +0.5% to +1.6%)
  • Townhomes on 1st St N:   +4.5% (except for the corner unit which is +6.6%)
  • City homes:  -1.4%  (units less than 2,500 sq ft went up 3.8% and units larger than 2,500 sq ft went down 11.7%)

According to the Pinellas County Property Appraiser the difference in Just Market Values in the same condo building are based on different sizes, views and locations.

Notices of Proposed Property Tax (TRIM notices) are mailed out by the property appraiser each August. Property owners have 25 days from the mailing of this notice to file a petition with the Value Adjustment Board. Note that only the value is at issue now as the tax/millage rates have not been set yet.

If you would 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. We’re right around the corner at 238 Beach Drive NE.

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Luxury Condos in downtown St Petersburg Market Update

Downtown St Petersburg condos

There are currently 17 downtown St Pete condos being marketed at over $1,000,000 that are resales, plus the last few new condos at Ovation. 14 of these luxury condos are priced between $1 million and $2 million: 400 Beach has 2; Ovation has 3; Parkshore Plaza has 3; Signature Place has 1; Vinoy Place has 3 and Florencia has 2. Most of these range from 2,750 sq ft to 3,675 sq ft with one exception at each end.

One resale luxury condo at Ovation is priced at $2,000,000; one double unit at Florencia is priced at $2,900,000 and one penthouse unit at Vinoy Place is priced at $3,200.000.

In the last year 9 downtown St Pete luxury resale condos sold at over $1,000,000, according to the My Florida Regional MLS. All but one of these sold between 1 and 2 Million dollars: 3 at Parkshore Plaza, 4 at 400 Beach, 1 at Vinoy Place, and 1 at Ovation.  Please note that these figures do not include the new condos sold at Ovation, including a double unit that sold at $4,150,000.

For more information on any of these downtown luxury condos please contact The Simms Team at ALVA International, Inc. at 238 Beach Drive NE.

 

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400 Beach and Parkshore Plaza

 

 

 

 

 

 

 

 

 

400 Beach and Parkshore Plaza were both developed by Opus South, a year apart. The two luxury condominiums a block apart on Beach Drive have many similarities, but each has a different flavor. The common areas at Parkshore have a more traditional decor; 400 Beach is more New York contemporary. The pool at Parkshore is surrounded by the building; at 400 Beach it has a view of the water. Parkshore has a more central location and 400 Beach is built and angled a bit more to the east so has better views of the Skyway. The floor plans of the majority of the tower, 4 per floor, are similar yet have differences. Both are worth looking at if you’re in the market for a luxury condo in downtown St Petersburg.

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Parkshore Plaza Market Update as of 12-1-11

Here’s November’s market update on Parkshore Plaza:

As of December 1st, there were 6 condos for sale at Parkshore Plaza in the MLS ranging from $849,900 to $1,275,000. There were no closings in November. In 2011 there have been 15 sales ranging at Parkshore from $285,000 to $1,275,000.

Check PARKSHORE PLAZA CONDOS FOR SALE here.

As of December 1st  there were 2 condos available for rent from $3,500/mo to $4,500/mo. There have been 7 condos rented so far this year, ranging from $2,800 to $4,000 per month.

Call or email The Simms Team at ALVA International, Inc. for additional information on Parkshore Plaza or to see any available Parkshore condos for sale.

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