Downtown St. Pete's tallest office tower, 200 Central, sells to local group
/The tallest office building in Pinellas County has changed hands.
Feldman Equities and its partners have acquired 200 Central Avenue, the 28-story office tower at the corner of Central Avenue and 2nd Street in downtown St. Petersburg.
Financial terms of the transaction were not disclosed.
The Tampa Bay-based commercial real estate firm announced the acquisition Wednesday and said it plans to invest more than $20 million into upgrades and improvements throughout the building.
The tower was previously owned by Third Lake Capital, a Tampa-based investment advisory firm, which purchased the property for $65.75 million in 2017, according to Pinellas County property records.
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A long-delayed project that will deliver 24 affordable homes for working families is nearing completion and preparing to welcome its first residents.
The bright white-and-blue, two-story townhomes line 6th and 7th avenues South near 22nd Street South, directly across from the Manhattan Casino.
The City of St. Petersburg purchased the land in 2007 for $2.2 million using a federal grant. However, the project was not announced until 2019 under former Mayor Rick Kriseman as part of the broader Deuces Rising initiative, which aims to revitalize the Deuces, the historic African American entertainment and business district along the 22nd Street South corridor.
Built by Tampa-based Horus Construction Services, the development includes twelve 1,780-square-foot townhomes with three bedrooms and twelve 1,525-square-foot townhomes with two bedrooms.