Special offer

Signature Place has begun

By
Real Estate Agent with Coastal Properties Group International - Christie's International
Signature Place, an exciting high-rise luxury condominium project is now in the process of demolishing the office building on the site where Signature Place will be built. Ralph Johnson, a distinguished and award winning architect with Perkins + Will in Chicago, has designed this unique structure in the shape of a sail, with walls of glass, giving every condominium unit a view of Tampa Bay. Joel Cantor, founder of Cantor development, is setting new standards in this sophisticated building. The sixth floor Sky Garden features an 80 foot wide, 6 story waterwall.
Posted by

Sharon Simms
CIPS CRS CLHMS CRB RSPS
Coastal Properties Group
CHRISTIE'S International Real Estate
238 Beach Drive NE
St Petersburg, FL 33701
www.ssimms.com    www.coastalpgi.com   www.christiesrealestate.com
(727) 898-2582    Sharon@SimmsTeam.com

 

Comments (7)

Auburn Football
Whipped the Gators...Again - Alachua, FL

Sharon,

How are the luxury condos selling in St. Pete?  I know that -generally- condos aren't faring too well in Pinellas, but I am curious to know how the projects down in St. Pete are doing.  Are developers feeling a pinch and offerin gincentives like the home builders are?

Jul 19, 2006 09:05 AM
Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS
Seems like alot going on in the condo market there.  Ours was down 9% last month after steady increases for months!!
Jul 19, 2006 11:38 AM
Karen Villa Schweinfurth
RE/MAX Northwest Realtors, Inc. 425-308-3669 - Everett, WA
ABR, CRS, SRES, CyberStar
Sharon, I'm green with envy. They sound lovely. What are the starting prices there? I know in Seattle, with views of the sound 400 sq. ft. is going for about $600,000.
Jul 19, 2006 02:06 PM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Richard -

You're right, as far as condos overall.  Downtown St Pete is still hot, though a lot of buildings that are still on the drawing board probably won't start. The Bullard project by Williams Park is off again, or at least delayed. Grand Bohemian is postponed a year so they can redesign with more hotel rooms and less condos, but other projects are going fine. No, so far none of the highrise developers here are offering incentives like the home builders are in the surrounding areas. As always, design, amenities, quality and location are critical - miss one of these, or fail to compensate in pricing if they are less desirable is often the key to lack of sales. Ovation just opened sales and prices start at $1,900,000, at the corner of 2nd Ave N and Beach - and I imagine JMC will do well as always. Three of the four penthouses are already committed.

Jul 20, 2006 12:17 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
Teri - overall, condo sales here are down. County-wide inventory in June was up 450% over June 2005 and number of buyers was down by 40% - and many of the new condos being built aren't in those MLS figures. But - properties that are priced well are still moving quickly.
Jul 20, 2006 12:21 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
Karen - lowest price in the tower (where I'd want to be) is now $469,000 for 2 bedroom 2 bath with 2 parking spaces in the garage.  Wow!  Lowest price in the surrounding condos "city homes" is $409,000 for a 1 bedroom + den, 1-1/2 bath. Completion scheduled for February 2009.  At this price, with the design and location, despite the current overall slow market, I'd say - if you can, buy one! 
Jul 20, 2006 06:31 AM
Anonymous
Anonymous

Hi Sharon,

I want to say that your analysis of the market is accurate.....real estate success has always been determined by location.  Fifth Avenue in NYC in 1850 was regarded as a great location and today has only gotten stronger.  Good locations tend to retain and improve their values through the long term while marginal areas only seem to improve during boom years and languish during "normal" activity markets.  Of course, the best buildings in good locations compete better for new buyers, and this increased relative demand bolsters and supports prices.   So, in sumary, its simple, if you want to win in real estate over the long term, buy the best product in the best location.    Joel Cantor, Developer of Signature Place  www.SignatureStPete.com

Oct 01, 2006 11:21 AM
#7