Eight-unit luxury condo development slated for Tierra Verde waterfront
/One of the last vacant multifamily lots in Tierra Verde is being developed by Tom Rodgers and Gym Wilson, longtime business partners who, beginning in 1997, have developed more than 150 waterfront homes in St. Pete Beach, Tierra Verde, and Treasure Island. Their portfolio also includes beachfront custom homes, as well as retail and marina projects.
Located at 455 Pinellas Bayway South, the gated Quiet Cove Tierra Verde community is under construction and expected to be ready for occupancy in summer 2023.
“The developers are quite well known, with previous success stories like Sunset Watch and Hidden Lagoon on Tierra Verde and Boca Sands on St. Pete Beach,” says Blanka Prusova White, sales director at Century 21 Coast Alliance, the agency handling sales of Quiet Cove’s eight units, all of which are accessed via a semi-private elevator and offer marina and Gulf of Mexico views.
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Several prominent properties in the EDGE District have sold for $12 million.
According to a deed recorded October 6th, developer PTM Partners sold the three-story building at 1246 Central Avenue and the street-level retail spaces at the adjacent Moxy hotel to L3 Capital, a Chicago-based private equity real estate investment firm that focuses on urban retail.
The 27,261-square-foot building at 1246 Central Avenue is home to Bosphorous Turkish Cuisine and Amorino Gelato on the ground floor. Digital marketing company WebFX has signed a lease for the third floor but has not yet moved in, while the approximately 8,700-square-foot second floor remains available for office tenants.
The sale also includes the Moxy hotel’s 3,407 square feet of ground-floor retail space, occupied by Floyd’s Barbershop and Solidcore. It does not include the 163-room Moxy hotel itself, which remains part of PTM Partners’ EDGE Collective development.
James Garner and Jim Shiebler of CBRE represented PTM Partners and L3 Capital in the transaction.