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| Luxury St. Petersburg tower will have views from Tampa Bay to the Gulf of Mexico |
| (ST. PETERSBURG – March 8, 2023) – With construction well underway, the Residences at 400 Central luxury condominium is celebrating the sale of a major penthouse residence that ranks among the largest residential transactions in recent St. Petersburg history. The 4,237-square foot residence on the 43rd floor is under hard contract for $5,230,000. The expansive 4-bedroom, 4.5-bath residence has an additional 1,389 square feet of outdoor terrace space overlooking downtown St. Petersburg and the waters of Tampa Bay. The buyers of the residence confirmed they are residents of Illinois who were attracted to the best-in-class architecture and amenities of the project, as well as the vibrant culture of downtown St. Petersburg, with restaurants, shops, galleries and events. “We are thrilled to welcome this wonderful couple into 400 Central in the heart of St. Petersburg and I am thrilled to have them as my neighbor,” said John Catsimatidis Sr., founder of Red Apple Real Estate and principal of the development company for Residences at 400 Central who will also be purchasing a penthouse residence at 400 Central. “This sale confirms that 400 Central is among the most attractive and successful new developments in the nation. Feedback from buyers has been phenomenal and our sales team has experienced incredible momentum which we expect to grow as construction continues.” The developer recently closed on $252 million in construction financing and contractors have drilled nearly 90 steel-reinforced deep foundation pilings, some of them 180 feet deep. Work is currently underway to prepare for the pouring more than 6,500 cubic yards of concrete which will create the base of the foundation for the 515-foot-high residential tower. Anticipated to be the tallest residential condominium on Florida’s Gulf Coast when complete in the first quarter of 2025,The Residences at 400 Central will soar above downtown St. Petersburg’s vibrant Central Avenue, capturing panoramic views from Tampa Bay to the Gulf of Mexico. The 400 Central tower will include 301 luxury condominiums, plus Class A office space, ground-level restaurants, shops and cafes. This world-class residential tower will be full-service and the first of its kind in St. Petersburg to include a dedicated lifestyle coordinator who will activate the amenities and engage the community. |
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| A state-of-the-art sales gallery across from the site at 465 Central Avenue was established by Red Apple and Michael Saunders & Company and is continuing the ongoing process of facilitating the sales of the luxury condominiums. To receive more information, please register at residences400central.com or email info@residences400central.com. |
| 400 Central400 Central is a transformative, approximately 1.3 million square foot development in the heart of St. Petersburg, Florida that will include a 46-story condominium tower with 301 luxury homes, ground-floor retail and restaurants as well as Class A office space. The tower is being developed by New York-based Red Apple Real Estate. The design team is led by the internationally renowned architectural firm Arquitectonica. For more information, please register at residences400central.com or email info@residences400central.com |
| Red Apple Red Apple is a diversified, family-owned group of companies led by John Catsimatidis. Red Apple’s real estate arm, Red Apple Real Estate (RARE), develops and manages mixed-use properties that feature luxury living options with convenient, neighborhood retail elements. Over the past decade RARE has completed numerous residential development projects, which collectively encompass nearly 1,400 residential apartments and 70,000 square feet of retail space. RARE also manages a significant portfolio of commercial and retail space owned by Mr. Catsimatidis. Red Apple’s substantial energy portfolio include a 70,000 plus barrel per day medium complexity oil refinery in western Pennsylvania, a 5-million-barrel deep water petroleum storage facility in Eastern Long Island, fuel oil distribution in the great New York metro area and over 370 gas stations and convenience stores. The company also has interests in an aviation business and supermarkets. Collectively, Red Apple has almost 10,000 employees. |
| Michael Saunders & CompanyIn its 46th year of innovative service to Southwest Florida, Michael Saunders & Company is the top independent real estate company in the region with a network of 24 full-service real estate offices—with nearly 700 agents and 200 support team members spanning the Gulf Coast region. International brokerage affiliations with Leading Real Estate Companies of the World, Luxury Portfolio International, and Mayfair International Realty extend the company’s message to qualified buyers globally. Headquartered in Sarasota, Fla., Michael Saunders & Company affords customers the most comprehensive range of real estate services in the Southwest Florida marketplace. These include mortgage, title, insurance and relocation services, a new homes and condominiums sales division and a commercial real estate division. A philanthropic arm, the MSC Foundation, gives back to Gulf Coast community organizations via donations from agents and staff. For more information about Michael Saunders & Company, please call 1-888-552-5228 or visit michaelsaunders.com. |