Dynasty leaders provide update on 400 Central headquarters

Leaders of Dynasty Financial Partners are getting ready to move into a new headquarters at the Red Apple Group’s 400 Central tower. According to Dynasty CEO Shirl Penney, the buildout is on schedule and set to be completed by the fourth quarter of this year. He said that the construction process is “going well.” 

Dynasty’s lead generation services, capital solutions and investment bank support benefit more than 500 financial advisors who work for over 50 independent firms. The company will occupy approximately 45,000 square feet of Class A office space. 

“It’s been a long process and a thoughtful one,” Penney explained. “It’s north of an eight figure buildout on the real estate. So, it’s a significant investment by Dynasty in our people, in our network of advisors and in the community.” 

Dynasty senior vice president and chief of staff Jeremy Gilbert added that the company is “in conversations” with Red Apple Group to expand its footprint on the first floor. This will add approximately 16,000 square feet to the organization’s office. A larger lobby, conference area and studio are planned.

In February, Dynasty closed on a minority capital raise. Investors included BlackRock, the Charles Schwab Corporation, J.P. Morgan Asset Management and Abry Partners. The capital will be used to recruit talent and implement “cutting-edge artificial intelligence-driven technology,” according to a prepared statement. This is the sixth raise since Dynasty’s founding in 2010. Currently, the company has over 50 open job requisitions. 

Dynasty leaders decided to relocate the company to St. Petersburg from New York City in 2019. While “disruptive,” Penney said, the decision was made to “get out of a high cost environment that wouldn’t necessarily be the right long term fit.” 

He added that long employee commutes played a role in the decision. The move could provide a better “quality of life for the team.” Penney and his wife made over 40 trips to explore markets. These included Miami, Nashville, Atlanta, Austin, Texas and Charlotte, North Carolina. 

“We did a deep analysis looking at everything from infrastructure, cost of living, quality of living, availability of talent, ease of commute, economic environment and tax environment,” he explained. “Candidly, at the end of the day, St. Pete didn’t win by a little. It won by a lot.” 

Currently, Dynasty is based at the 200 Central office building. 

Initially, the organization planned to build a mixed-use tower close to the Tropicana Field site in partnership with ARK Invest CEO and founder Cathie Wood, AOL co-founder Steve Case and other investors. This project was supported by former St. Petersburg mayor Rick Kriseman. However, plans change. 

Kriseman would eventually introduce Penney to Red Apple Group founder John Catsimatidis Sr. This ultimately led to a 400 Central partnership. A 15-year lease was signed in June 2025. 

The goal was to create an “exciting” space for Dynasty employees and clients, Penney said. More so, to develop a thoughtful environment where clients can “review all of the finances in a private setting.” The new office will even have its own dining room. 

Amenities will include a rooftop deck, bar and outdoor entertaining space, Penney said.  

Gilbert added that Dynasty is interested in commissioning local artists to create pieces for the new office. The team is planning on installing a “signature” work outside of the building, akin to the Charging Bull in Manhattan’s Financial District (New York City).

The team has been collaborating with the Red Apple Group to find restaurant tenants for 400 Central as well. “We plan to have a couple,” Penney explained. “We have had some conversations ourselves with some very high-profile celebrity chefs to convince them to come to St. Petersburg.” 

Penney hopes the office becomes a “community” space. Dynasty plans to “make it available to various charities and local schools” for training and mentoring opportunities. 

Dynasty Financial Partners website