A weekly roundup of local real estate deals.
Largo apartments sell
The Mystic Bay apartment complex in Largo has sold in a roughly $42.1 million deal.
New York-based Ashcroft Capital Managers LLC sold the apartment complex to Indiana-based Sterling Management, a real estate investment services firm that specializes in multifamily housing.
The 228-unit complex is located at 600 Starkey Road. The sales price breaks down to $184,649 per key.
The complex is described as a “luxury community” with amenities that include two resort-style swimming pools, a 24-hour fitness center and a dog park.
The units range from one to three bedrooms, with balconies.
Sterling Management assumed a $23.1 million loan for the complex, according to property records.
Charter school sell in nearly $8 million deal
Building Hope Hercules Inc., which is a nonprofit group that renovates and develops buildings for charter schools, sold its Clearwater property to charter school operator Athenian Academy Inc.
The property at 2289 N. Hercules Ave. sold to Athenian Academy Inc. in a nearly $8 million deal.
The 42,068-square-foot Athenian Academy Charter school is a K-8 Greek charter school.
Athenian Academy has two locations in Florida. The second is in Fort Myers.
The school has an emphasis on math and foreign languages.
East Lake Woodlands Home sells for $1.77 million
The estate at 5290 Enclave Drive in Oldsmar has sold in a nearly $1.77 million deal.
Thomas Typrowicz, the CEO of Largo-based Work Tools International Inc., purchased the 6,310-square-feet home.
The two-story home is located in the East Lake Woodlands, a premier 36-hole golf community. The home is adjacent to the golf course.
The home was built in 1997 and renovated in 2006. The renovations, which amount to over $100,000, include a new tile roof and refinished hardwood flooring, according to a listing.
It also features an in-law/nanny suite, a bonus/theater room with a wet bar and a gym, and an outdoor entertainment area with a dining pergola and pool that faces the golf course.
The six-bedroom home previously belonged to Randy and Anelocci Demaree.
The buyer was represented by Jodi Avery of Keller Williams Realty.
City opens up proposal process for the development of block near the Trop
Earlier this week, the City of St. Petersburg received an unsolicited proposal from Atlas Real Estate Partners to purchase the property at 910 2nd Ave. South for a mixed-use development – triggering the process to open the floor to other proposals.
When an unsolicited proposal is made for city-owned land, the city is then required to allow others to also bid on the site.
Atlas, a privately-held real estate investment firm that owns The Wayland, offered the City of St. Petersburg $5.5 million to purchase a city-owned property near Tropicana Field to build a 10-story development.
The site, an assemblage of two parcels, includes parking that is currently under lease to the Tampa Bay Rays and is utilized for 226 parking spaces.
Atlas intends to develop a 310-unit residential complex with a mix of traditional, micro and co-living units as well as short-term rentals. It includes workforce housing, and the proposal also includes details on an alternative approach for Rays parking.
The development would also offer 15,000 square feet of co-working space, which will occupy two floors, and 20,000 square feet of commercial/retail use.
For others interested in purchasing a developing the site, the deadline is Dec. 10 at 10 a.m.
As the site is currently under lease to the Rays and is utilized for parking, alternative parking for the Rays must be provided.
The proposals must be delivered to the City of St. Petersburg Real Estate & Property Management and Municipal Services Center at One 4th Street N, or emailed to Real Estate Coordinator Dennis Weber at firstname.lastname@example.org.
New co-working space opens in Dunedin
A new co-working space has opened on Main Street in Dunedin.
The Hope Grove Co-work and Care space is located inside the FUMV Dunedin building.
The space, which opened Nov. 1, offers private offices, child care support, wifi, meeting booths and printing.
The prices range from a day pass ($25) to monthly rates that start at $275.