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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New St. Pete apartment community sells for over $19 million

The newly developed Levi Apartments off Gandy Boulevard have sold in a $19.1 million deal.

The 102-unit St. Petersburg apartment complex at 10491 Gandy Boulevard North was sold to an entity connected to property management firm KRI Properties, which has an office in Tampa. 

The gated community was constructed in 2023 on a vacant grass lot, previously slated for office and retail uses, and sits adjacent to the Tortuga Pointe Luxury Apartments.

The buyer assumed a $15.23 million mortgage loan from Berkeley Point Capital.

The one-to-two-bedroom units range from 756 to 1,225 square feet with monthly rental rates starting at $1,900.

The units feature hardwood floors, granite countertops, and patios.

Amenities include a fitness center, a resort-style pool, cabanas, a fire pit, poolside grills, and a courtyard.

KRI Properties has owned and/or managed more than 4,000 apartment units and tens of thousands of square feet of office space, collectively worth more than $500 million, according to the company's website. 

The group owns several residential communities throughout the Tampa Bay region, including the Sawgrass Apartments, Crossings at 66th, and Park House in St. Petersburg.

Belleair Shores home sells for $9.5 million, will be demolished

A waterfront Belleair Shores estate, linked to St. Petersburg's prestigious Sembler family, has a new owner who intends to raze the 1979 home.

The one-acre property at 400 Gulf Boulevard sold for $9.5 million to a couple who founded a Massachusetts-based healthcare company.

The new owners plan to demolish the home designed by Clearwater architect Arthur Rutenberg and build a custom home, according to the buyer’s agent Allan Mezrah of Toni Everett Co.

"Both the new owners and previous owners look at renovating and remodeling the home, but it would take significant money and time to complete and make it code-compliant for hurricanes," Mezrah said in a conversation with St. Pete Rising.

His team and the Semblers, the family behind the real estate firm The Sembler Company, conducted separate property evaluations on the feasibility of saving the home. 

"The new owners are looking forward to building a family compound that can be held onto for generations," added Mezrah.

The existing 6,583-square-foot, five-bedroom home, has vaulted ceilings in the living room and large windows offering views of the bay, a large kitchen, and an office with a stone fireplace and bespoke built-in library shelving, according to the listing. 

Outside, the lot has a wrap-around deck, a stone-adorned pool area with waterfall features, an elevated connected spa, and a fire pit facing the 160 feet of unobstructed Gulf views on a private beach.

It was previously listed for $10.5 million. The home last sold for $7.648 million in 2023.

 Brandy and Garret Jagdmann of Engel & Völkers Belleair represented the seller.

New boxing gym opening in St. Pete

One More Round, sometimes abbreviated to 1MR, a fitness studio offering boxing and kickboxing classes, is opening in St. Petersburg's Grand Central District.

The franchise will debut at 2626 Central Avenue this May, according to the franchise's website.

"1MR One More Round St. Pete strives to create a non-intimidating, inclusive and beginner friendly environment where everyone can feel comfortable and excel toward their goals," an advertisement on the company website reads.

The company, founded in Toronto, Canada in 2020, will have 45-minute boxing classes and circuit training.

The operating hours are to be determined; however, the site states it will be open all day throughout the weekdays and in the mornings and afternoons on the weekends.

1MR is currently pre-selling gym memberships. Follow 1MR's Facebook and Instagram for future details and announcements.

1MR's space was formerly home to Acme Air Conditioning Co.

Hollander Hotel owner Michael Andoniades purchased the 6,000-square-foot-plus vacant retail storefronts at 2620-2626 Central Avenue in 2022 for $1.9 million.

South Florida groups acquire Pinellas Park industrial sites 

A multi-building office park at 8800 49th Street North in Pinellas Park has sold for $4 million.

The three office warehouses were built in 1974, totaling 46,700 square feet.

BH Office Park LLC sold the 3.75-acre complex to Banyan 8800 LLC, an entity connected to Liebman Group, a South Florida-based equity firm investing in small bay industrial real estate assets​ throughout the Southeast.

The office park recently underwent exterior and interior renovations with upgraded LED lighting, security cameras, and new carpet and wood flooring installed in the units. 

The buyer assumed a $2.8 million mortgage loan from DFCU Financial. 

Nick Watson and Harrison Auerbach with Matthews Real Estate Investment Services represented the seller in the purchase.

The seller also sold four parcels at the Park Place Center industrial office complex in Pinellas Park to a different buyer.

Infinity Tampa 1 LLC, an entity connected to South Florida-based Infinity Properties, and Cooper Commerce Center Tampa 1, LLC, connected to Delray Beach-based Mindful Capital Group, purchased the lots at 6240, 6260, and 6261 39th Street North and 3851 62nd Avenue North for $10 million.

The buyer assumed a $7.175 million mortgage loan from the BEB Opportunity Fund LP. 

Both office parks have active tenant leases.