Done Deals: $182M loan secured for condo tower, 8-story hotel coming to Madeira Beach, St. Pete estate sells for over $9M
/Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Kolter receives $182 million loan for Art House
A rendering of art house that’s actively under construction in downtown st. petersburg | kolter urban
South Florida-based developer Kolter Urban has secured a nine-figure construction loan for the Art House condominium tower under construction at 235 1st Avenue South in downtown St. Pete.
Bank OZK provided the $182.1 million loan, according to Pinellas County public records.
The loan comes as general contractor Coastal Construction has reached the halfway mark for the tower underway on a former surface parking lot adjacent to 200 Central, the tallest office tower in St. Pete.
When completed in 2025, the 244-unit luxury condo tower will have 12 penthouses on the top three floors.
In April, the sales team announced Art House had eclipsed $200 million in sales. A few days ago, the condo tower passed $250 million in sales.
In addition to the residences, there will also be an expansive amenity deck, named Cloud 9, that will occupy the entire ninth floor and feature a resort-style pool, an exclusive cocktail bar, poolside cabanas, and indoor amenities.
Kolter Urban has developed two other condo projects in downtown St. Pete — the 41-story ONE St. Petersburg and the recently completed 35-story Saltaire.
New condo-hotel coming to Madeira Beach
a rendering of The beachmaker, a new marriott autograph hotel planned for madeira beach | century 21
The Beachmaker, a new luxury Marriott Autograph Collection hotel, is coming to Madeira Beach.
The Beachmaker will contain 161 hotel keys and 10 residential penthouses at 14500 Madeira Way.
Plans show an eight-story building with two parking levels above 30,000 square feet of ground-floor retail and restaurant space.
The Beachmaker will offer 25,000 square feet of amenities with a fourth-floor outdoor amenity deck featuring two pools, a lobby bar, firepits, cabanas, and a 250-person banquet hall, according to Century 21 real estate agent Jeff Beggins, head of residential sales and one of the owners of The Beachmaker.
a rendering of The beachmaker | century 21
The on-site restaurant tenants and operators include Archie's Coffeehouse and Bodega, Cozina Mediterranean restaurant, and the Bom Bom Pool Bar and Grill., according to Beggins.
The upscale Art Deco-inspired resort will also have a "skybridge,” providing an elevated pedestrian walkway connecting to the beach.
Construction at the 2.5-acre site will reportedly commence later this year and be completed by 2026.
Snell Isle estate sells for over $9 million
The snell isle estate at 117 bay point drive ne | realtor.com
A remodeled waterfront home in St. Pete's luxury Snell Isle neighborhood has sold for $9.6 million.
The 5,105-square-foot estate at 117 Bay Point Drive NE was built in 2013 by Tampa-based Windstar Homes.
The kitchen of the five-bedroom home has oak flooring and custom oak cabinetry complemented by marble countertops and walls, as well as an island made with Taj Mahal stone, according to the listing.
An image of the kitchen with the marble countertops and walls | realtor.com
The outdoor entertainment space of the 0.36-acre property includes a dock with two boat lifts and an infinity pool.
The home last sold in 2021 for $6 million.
Kristen Naruns Burke with Northstar Realty represented the sellers. Jennifer Zales with Coldwell Banker Realty represented the buyers.
Clearwater industrial center sells
The Highpoint commerce center, which was fully completed 60 days ago | foundry commercial
A newly completed 125,000-square-foot industrial complex in Largo has sold for $18.324 million.
Orlando-based commercial real estate firm Foundry Commercial sold the Highpoint Commerce Center site on 150th Avenue and 62nd Street to Frind- Highpoint LLC.
The buying entity is connected to Washington, DC-based firm RSE Capital Partners.
Jesse Drake, Caitlin Quinlan, and Justin Ruby of Foundry Commercial will continue to spearhead the leasing efforts.
“We are in discussions with several companies and confident that the full building will be leased shortly,” Drake said to St. Pete Rising.
Renovated Shore Acres estate sells
The home at 1849 Bayou Grande Boulevard NE | photo provided
An estate in the exclusive Shores Acres community has sold for $4.2 million.
The 5,573-square-foot estate at 1849 Bayou Grande Boulevard NE boasts 22-foot-high ceilings and a modern glass wine room with a tumbled-marble wall, according to the listing.
The five-bedroom home, constructed in 2007 and renovated in 2015, has an expansive great room featuring a gas fireplace and a wet bar.
An outdoor entertainment deck and kitchen with a wraparound bar overlooks the pool and elevated hot tub.
The home features balconies and an outdoor living space overlooking the pool and waterfront | photo provided
The waterfront property also has a dock with a boat and jet ski lift.
It last sold in 2020 for roughly $2.63 million.
Dania Perry with Century 21 Jim White and Associates was the listing agent.
Dominic Brescia Jr. with The Brescia Group represented the buyers.
Macy's call center site to become large logistics complex
A rendering of the clearwater logistics center | colliers/LBA Logistics
Site work has commenced on a new 300,000-square-foot logistics center in the heart of Clearwater's Gateway submarket.
The 34.5-acre site at 13141 34th Street North is home to a Macy's call center, which will be demolished as part of the redevelopment.
California-based LBA Logistics' real estate arm purchased the property in a roughly $17.9 million deal in 2021.
LBA Logistics is developing two build-to-suit 150,000-square-foot warehouses at the site, according to a LinkedIn post from Colliers Executive Vice President Robyn Hurrell.
Colliers is leading the tenant leasing for the future Clearwater Logistics Center, which is adjacent to an Amazon facility.
Construction is expected to be completed by 2025.
