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Downtown St Petersburg rental market

Downtown St Petersburg including Vinoy Place condominiums

Downtown St Petersburg

The downtown St Petersburg rental market currently has very few choices for prospective annual renters. For short term vacation rentals there is generally nothing available – almost all of the downtown St Petersburg condos have a minimum one year rental period. Those few exceptions that allow shorter rentals limit the number of times a year the unit can be rented (one at Parkshore Plaza, three at Signature Place, for example). So, unless an owner is Read the rest of this entry »

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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.

 Search Parkshore Plaza Condos     

      Search Downtown St Pete luxury condos

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Parkshore Plaza installed Water Cop system

Parkshore Plaza

Parkshore Plaza

 

Parkshore Plaza, a luxury condo in downtown St Petersburg, has installed a Water Cop automatic water shut off system throughout the building. Undetected leaks can cause problems. Leaks starting in one condo unit – whether undetected by owners that are away or unseen behind appliances – can cause damage in multiple units as the water leaks down. A leak in an automatic icemaker line, for example, could cause drywall damage in multiple units.

To avoid this, Parkshore Plaza has installed a Water Cop system that senses leaks in multiple areas of each condo. In addition Parkshore installed a monitoring system so that any leaks are immediately reported to the front desk which is monitored 24 hours a day. That way immediate remedial action can be taken.

View active listings of condos for sale in Parkshore Plaza here.

 

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Downtown St Petersburg Condo Rentals Market Update 7-1-2012

Signature Place in downtown St Petersburg

Signature Place

 

Downtown St Petersburg condo rentals are in ever shorter supply. There are only 6 downtown St Pete condo units listed for rent in the mid-Florida MLS, ranging in price from $2,200/month to $4,000/month. The average rent is $3,100/month. One is a 3 bedroom townhouse, the others are all 2 bedroom units. The condos range from 1,420 sq ft to 2,203 sq ft.

Two of the rental units will allow a pet.Three of the rental units will allow rentals for less than a year.

During June, 7 condo units rented, ranging from $1,200/month at Flori de Leon to $4,500/month at Signature Place.

Here are details on what’s currently available:  Read the rest of this entry »

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Downtown St Pete Condos – Market Activity week ending 5-25-12

The downtown St Pete condo supply is holding steady at 33 downtown condos listed in the MLS, ranging from $56,000 – $3 Million. Though the stats are the same as last week, the supply has changed a bit.  Five condos went to contract this week, ranging from $270,000 to $1,150,000. Four condos sold this week, ranging from $320,000 to $1,500,000. Four condos came on the market this week for sale, ranging from $360,00000 to $1,150,000.

Here are the new listings in the MLS:

$360,000  Bayfront Tower       1,279 sq ft   1 bedroom   1½ bath
1 parking space     2011 est property taxes: $5,296     Condo fee: $674/mo
13th floor    view: east (Tampa Bay)   Search Bayfront Tower  listings

$485,000  475 Condo     2,090 sq ft  3 bedrooms 2½ baths
1 parking space    2011 est property taxes: $6,676    Condo fee: $597/mo
2nd floor     view: east

  $875,000    400 Beach    2,395 sq ft     2 bedrooms 2 baths
2 parking spaces   2011 est property taxes: $11,429   Condo fee: $990/mo
23rd floor    view:  northwest corner     Search condos for sale at 400 Beach

 $1,150,000   Parkshore Plaza    3,081 sq ft   3 bedrooms 3½ baths
2 parking spaces    2011 est property taxes: $16,189   Condo fee: $1,259/mo
15th floor     view: northeast corner (Tampa Bay)    Search condos for sale at Parkshore Plaza

Search condos for sale in downtown St Petersburg

Search MLS Here

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Parking for downtown St Pete condo residents and guests

 Parking is one of the questions to ask about a downtown St Petersburg condo you may be considering. Resident parking in some of the older buildings such as Bayfront Tower and Townview have just one space per unit. Actually historic buildings such as Flori de Leon, Detroit Hotel and the Snell Arcade have no parking at all. Newer buildings, such as Parkshore Plaza and 400 Beach, generally have two covered spaces for each unit. Vinoy Place not only has two covered parking spaces per condo but has several spaces allocated for guest parking. 

For those condos that do not have any guest parking spaces, it’s helpful to know that downtown residents are able to get parking permits from the City of St Pete for street parking in downtown. These permits allow them not only to park free, but to ignore the time limits on parking. These permits do limit which spaces are available to each resident and the permit is good for only the downtown district of the residence. There are four. The cost is $15 per calendar year.

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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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Walkability and Walk Score

Bayfront Tower Walk Score

Many buyers today want to be able to walk to restaurants, shopping, museums, entertainment. They want to be able to go out in the evening and not have to drive home.

Are you aware of the iPhone app WALK SCORE? Bayfront Tower, for example, scores an 82.  Parkshore Plaza scores an 83. Both are “very walkable”. A house on 16th Ave NE may have a score of 34 and one on Venetian Isles a score of 12. 

You can also sort for specifics for an address (or have the app use your location) and the app will show you grocery stores, restaurants, coffee shops, schools, hardware stores, etc. So  – it’s useful for when you’re traveling as well as when you’re shopping for a home or condo. 

 

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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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New tenant at Parkshore Plaza in downtown St Petersburg

Parkshore Plaza entrance on Third Avenue NE

Parkshore Plaza entrance on Third Avenue NE

The new tenant at Parkshore Plaza will be the Charlie Crist for governor campaign. The campaign headquarters is scheduled to open next week in one of the storefronts facing Third Avenue NE.  I wonder if Parkshore Grill will have an AKA “The Capital Grill”.

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