Clearwater Beach hotel sells for $ 115 million, historic estate to be auctioned • St Pete Catalyst
A weekly overview of local real estate offers.
Duel-branded Marriott Clearwater hotel sells for $ 115 million
Marriott International’s latest double-brand hotel in Clearwater Beach sold for a whopping $ 115 million.
The hotel at 309 Coronado Dr. is a combined Residence Inn of 140 suites and 115 SpringHill Suites. It was developed by 3H Group, which formed a joint venture with Miami-based Key International after it opened several years ago. The hotel is managed by LBA Hospitality of Dothan, Alabama.
Lodging Dynamics Hospitality Group purchased the hotel from Key International.
The transaction represents $ 450,980 per key.
The group owns several hotel properties that are primarily Hilton and Marriott branded hotels, but it does not include any other Florida properties, according to its portfolio.
The building has downstairs retail businesses with tenants including a Starbucks coffee shop and a Rocket Fizz store, which sells bottles of nostalgic candy and soda.
The sale does not include a nearby bar and liquor store, said Nick Desai of Group 3H.
The 3H Group, who designed the hotel, own the Beachview Suites Hotel in Clearwater Beach, which they recently purchased. Desai said they may redevelop the hotel in the future. The group is also developing an 88-room Curio Collection or Hilton hotel on Beach Walk. Desai said he expects the Hilton hotel to be completed within two years.
St Petersburg house built by renowned architect sells
The 4,132 square foot home at 2900 Pelham Road N. was sold in a deal for $ 1.475 million.
The two-bedroom house was acquired in a short sale, according to the listing.
The 0.84 acre lot is located on the shores of Boca Ciega Bay. It is a bespoke house designed by architect from St. Pete Blanchard Jolly.
It has a double-sided fireplace and a large library and has a skylight in the ceiling.
The kitchen includes light wood cabinets and stainless steel appliances.
Outside there is a multi-level swimming pool and a private dock.
The house was built in 1982 and renovated in 1998.
The seller was represented by James Brylinke with Realty Experts and the buyer was represented by Kandy Magnotti with Preferred Shore.
Palmer Estate will be auctioned
701 Bayview Drive auctioned by the Interluxe online platform.
The historic estate commonly known as the Palmer Estate in Belleair will be auctioned.
The Mediterranean Revival Estate at 701 Bayview Drive overlooks the Belleair Country Club golf course and was previously listed for $ 3.8 million.
The domain will sell at or above the starting reserve offer of $ 1.2 million through Interluxe.com starting November 9 at 12 p.m. ET.
Built in 1920, the property was first owned by Earl E. Carley, vice president of the Belleview Biltmore Hotel Company and was then sold in 1928 to its namesake, Theron Palmer, a titan of the rubber industry. According to the statement, the property would have also been a summer vacation getaway for Al Capone.
“The seller works and lives abroad and does not have time to spend in this extraordinary property. In discussing listing, we knew we needed a different approach to attract the right buyers and to do it quickly and efficiently, ”Gordon Kyle of Premier Sotheby’s International Realty said in a statement.
The estate has over 3,000 square feet of outdoor living space, including a pool and spa. The original structure of the house includes four bedrooms, four full bathrooms and a powder room and a chef’s kitchen with SubZero appliances. The second floor master bedroom was once a ballroom.
A second wing was built in 2005, adding a three-car garage, two bedrooms, a flexible living / space and two full bathrooms.
The estate has undergone several renovations over the years.
Coastal Steel Construction industrial building is sold
The industrial building that Coastal Steel Construction Inc. uses in St. Petersburg has a new owner.
Richman Industrial Land LLC sold the 40,126 square foot building located at 950 31 St. S. to D Iafrate Capital LLC, which is related to Angelo’s Recycled Materials.
Angelo’s Recycled Materials, based in St. Petersburg, specializes in construction materials and waste management with more than 500 employees across the United States.
Buccaneer Plaza is under new owner
PF2 Fund LLC sold the Buccaneer Plaza Shopping Center in a $ 3.2 million deal to TMTP LLC.
The Buccaneer Plaza at 6661 49e St. in Pinellas Park has approximately 24,000 square feet and 121 parking spaces.
The one-story Class B building has tenants including Terra Mar Brazilian Steakhouse, a martial arts studio, and Canna Doctors, a medical practice specializing in marijuana.
TMPT has taken out a loan of approximately $ 2.1 million from the Flagship Bank for the purchase.
Start of the demolition of the former St. Petersburg police headquarters
This week, demolition began on the former St. Petersburg Police HQ, where the new Orange Station at the Edge project will stand.
The new Orange Station at the Edge mixed-use development, which will feature workforce units, highly coveted Class A office space and more.
The demolition of the police department will take several months and will not disrupt the flow of traffic in the surrounding streets. Once the demolition is complete, the developers can move forward with a planned first shovelful of dirt.
Orange Station will be developed by Edge Central Development Partners, a joint venture group involving St. Petersburg-based J Square, Tampa-based DDA Development and Backstreets Capital.
The development includes the creation of five buildings that will include a total of 103 residential units, up to 106,000 square feet of office space, 21,400 square feet of commercial space and a 600-space parking garage for public use and private.
The development is expected to be completed by the end of 2023.