Home > Blogs > Sharon Simms > Real Estate Musings from St Pete, Florida

The value's in the land - even at $100 Million

By Sharon Simms

Real Estate Agent with Coastal Properties Group International - Christie's International

June 20, 2008 10:27 AM

Trump's estate in Palm Beach is reported to be selling to Russian fertilizer billionaire, Dmitry Rybolovlev, through one of his investment companies, for close to the $100 Million asking price - a record residential sale for Palm Beach. Rumor has it that the buyer will be tearing down the 33,000 sq ft mansion that Trump has been renovating for the past few years. Obviously the value is in the 6.5 acres with 475 ft on the Atlantic Ocean.

We have a property in St Petersburg, listed for a mere $1 Million, where the value is also in the land. This house is definitely a tear down, and the deep, treed lot on open Tampa Bay, with a view of the landmark Sunshine Skyway Bridge, is the value. For more information, check, the property website.

Waterfront property for sale in St Petersburg Florida

Comments(7)

Comment

Show All Comments

Sort:

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Geez, Sharon! Russian fertilizer billionaire? That sounds so totally unflirtworthy!

Jun 20, 2008 11:16 AM

Cindy Jones

Integrity Real Estate Group - Woodbridge, VA

Pentagon, Fort Belvoir & Quantico Real Estate News

I was just down in St Pete for my nieces wedding at the Vinoy. My brother has a great view of Tampa Bay from his house and watching the Dolphins from the patio is so cool. A million dollars for a tear down is beyond what I think I can cough up this week :-)

Jun 20, 2008 12:02 PM

Sharon Simms

Coastal Properties Group International - Christie's International - Saint Petersburg, FL

St. Petersburg FL - CRS CIPS CLHMS RSPS

Patricia - don't judge too soon!

Cindy - wish you'd called - I know your schedule was busy but at least we could have met for coffee. Not only is my office within walking distance (5 blocks) but every weekday morning I work out at the Vinoy and then go up to the lobby and have coffee while reading the morning papers. You're right - watching the dolphins is so cool. Which neighborhood does your brother live in? Next time - please call.

Jun 20, 2008 01:08 PM

Sharon-yes I win the DUH award of the month :-) My brother lives off of Grand Canal Ave on Carolina NE.

Jun 20, 2008 02:20 PM

Cindy - thanks for responding. Yes, Carolina has some great views. We had friends who lived there years ago and he would keep several fishing poles on his lawn, stretching out over the seawall. Whenever he wanted a fish dinner, he'd just go out and pull up one of the poles.

Jun 20, 2008 02:22 PM

Debbie DiFonzo

Debbie DiFonzo - United Country VIP Realty, SW Missouri - Lebanon, MO

Lebanon MO and Buffalo Missouri Real Estate

Life must be rough... only $100 million for a tear down?

I didn't visit the website for your listing yet, how large is the lot?

Jun 20, 2008 02:25 PM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

It's really all relative. If you have it, you can spend it. It's always the same baseline, though -- the land IS the "thing". Also, sellers and realtors don't set markets -- buyers do that.

Thanks!

Jun 29, 2008 07:32 AM

The value's in the land - even at $100 Million

Comments(7)

Sharon Simms

Real Estate Resources

Recent Posts

Additional Information