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Tag Archives: St. Pete

Downtown St Petersburg FL Home For Sale

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Property values in most of the downtown St. Petersburg neighborhoods have been roaring back from the lows of 2009. We are seeing homes selling in Old Northeast (Old NE) at above their 2006 highs and in some cases 5-10% above those numbers.

Some cities in the center of Pinellas County are lagging behind which were hardest hit, due to the number of foreclosures and short sales, however condos in downtown St. Pete like,  The Madison, Parkshore, Signature Place and other are all seeing huge value gains over the past 18 months. With a major lack of inventory in the condo market downtown (view available downtown condos here) we expect to see values continue to rise over the next 12 months.

Waterfront homes in St Petersburg NE area have on average seen $100,000 jumps in the past 12-18 months. Many homeowners who have been waiting for the past 10 years to move can now finally make their move if they can find a home or condo to move into. Check out the Sold St Pete waterfront home here.

If you are considering selling a home in St. Petersburg, Gulfport, Seminole or the Gulf Beaches contact us now for a free property value analysis or click here and we’ll prepare a custom market snapshot of your home so you can quickly guage where your home stands in the marketplace.

Whole Foods eyes site in downtown St. Petersburg

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By Katherine Snow Smith, Times staff writer
Tampa Bay Times
Published: Sep 14, 2012

ST. PETERSBURG — Whole Foods is considering opening a store in downtown St. Petersburg. The chain of large health food grocery stores known for its vast salad bar, hot food bar and soup selection along with the many rare products on its shelves is eyeing property adjacent to the Synovus Bank building at 333 Third Ave. N.

“They are studying a couple of different schemes. There is some kind of written agreement,” said Dave Jenkins, a property manager with Southeast Companies, who oversees the Synovus building and property.

He didn’t know the details of the agreement but said it was contingent on the grocery company deciding the site worked for its needs and that it would probably make a final decision by the end of the year.

No potential plans call for razing the Synovus building, Jenkins added. The bank owns the whole block where the building sits. The bank and its tenants would stay where they are.

“They can’t go on Fourth Street. Publix has 38th Avenue tied up. Fresh Market was able to just squeeze in its location,” said Paula Clair Smith, retail real estate broker with Commercial Asset Partners who specializes in St. Petersburg but is not involved in this potential deal. “Whole Foods has a very specific footprint and design. That block would give it to them.”

“I can’t confirm anything on that,” said Dominic DiMaio Jr., president and CEO of Synovus Bank of Florida, when asked if Whole Foods has an agreement on any of the bank’s property.

He said the property is not listed for sale but the bank would entertain any offers.

The Miami Beach-based broker who represents Whole Foods in real estate acquisitions wouldn’t comment on the downtown St. Petersburg site or discuss the Texas-based chain’s general plans for Tampa Bay.

“We are looking throughout the Tampa, Clearwater, St. Petersburg market,” said Michael Finkle, managing director at Koniver Stern Group.

There is a Whole Foods at Interstate 275 and Dale Mabry Highway in Tampa and another in downtown Sarasota. A 36,000-square-foot store is slated to open in Carrollwood

“In ’08 there was talk that Whole Foods was kind of looking at that property. So it’s interesting that they are back on that site doing a study there,” Smith said. “Where else can you get that perfect rectangle with enough space to do their footprint in downtown or even in a good portion of St. Petersburg?”

While the population of downtown St. Petersburg is growing, some might question whether there is enough density of high income residents to support a Whole Foods.

“Even though you don’t have the residents there are so many people downtown in a day or on the weekends. There’s the Saturday Morning Market. Hotel guests at the Vinoy,” Smith said.

“An addition of an upscale market to our community, and especially to the growing residential neighborhood of downtown, will escalate the growing epicurean sector in St. Petersburg,” said Sophia Sorolis, the city’s manager of economic development

CNN money Home prices: Tampa, St. Pete & Clearwater

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Report from CNN Money (click here) show Pinellas county with a -3% drop in property values over the 1st quarter of 2012. The 2nd part of this report show a huge price increase expected in the follow 4 quarters. We are already seeing a tremendous amount of activity in St. Petersburg and the beaches so far this year, including multiple offers and lots of cash sales. I’m sure the interest rates are playing a big part with sub 4% rates.

If you look at my last blog post you can see the inventory levels and the number of sales of both single family and condos on the rise. Check back with us in Mid Feb for Jan 2012’s numbers.