Thursday, July 19, 2018
Business

St. Petersburg Beach Drive penthouse brings top condo price this year

ST. PETERSBURG — It pays to be close to your neighbors, especially if you're in the real estate business.

Broker Joe Rosenthal lives in the Parkshore Plaza condo tower in downtown St. Petersburg and got the listing when a fellow owner decided to put his penthouse on the market. Rosenthal also found a buyer and the result was a $3.725 million cash sale this week, the top price paid for a Tampa Bay condo in 2017 thus far.

"It was a single man who is an art collector who sold it, and a single man who is an art collector who bought it," said Rosenthal, owner of Beach Drive Realty. "From the moment the person saw it, he was ready to buy."

PREVIOUS COVERAGE: Downtown St. Petersburg's condo boom shows no sign of slowing down

Photos on the Multiple Listing Service show a nearly 5,000-square- foot penthouse filled with striking contemporary art. The art will leave with the seller, but the new owner will be able to house his own collection in a 29th floor aerie with LED programmed lighting and three balconies overlooking Tampa Bay.

The price paid for the condo at 300 Beach Drive NE works out to $750.60 a square foot, tops for any of the 33 condos with a Beach Drive address that have sold this year. Even single-family waterfront homes in nearby Snell Isle, one of the bay area's prime locations, didn't have square footage prices that high.

The most ever paid for a Tampa Bay condo was $6.9 million last year for a penthouse in the Ovation at 180 Beach Drive NE. That sold for a whopping $1,294 per square foot.

Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate

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