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Places This Week: Clearwater penthouse lists; The Drake sells
A weekly roundup of notable local real estate news.
A 4-bedroom, 3.5 bath penthouse unit located in the Mandalay Beach Club, 10 Papaya Street, Unit 1404, Clearwater Beach has listed for sale with an asking price of $5.9 million. The 4,065 square-foot residence was built in 2002 and is steps away from Clearwater Beach’s dining, shopping and entertainment.
The open floorplan combines the living, dining and kitchen areas, all with floor-to-ceiling windows allowing panoramic views of the Gulf of Mexico. The gourmet kitchen features high-end stainless-steel appliances, custom cabinetry and granite countertops. The master suite provides a spacious walk-in closet, an ensuite bath with a soaking tub and glass-enclosed shower and a private balcony. The additional guest bedrooms have their own bathrooms. Amenities include a resort-style pool, fitness center, private beach access and parking.
The seller purchased the condominium in 2015 for $2.7 million. The listing is provided by Kathy Grams and Amanda Bure with Coastal Properties Group International.
1699 68th Street N., St. Petersburg. Photo: The Drake Apartments.
Maryland real estate investor purchases The Drake at St. Pete
The Drake at St. Pete, a 477-unit multifamily community located at 1699 68th Street N., St. Petersburg, sold July 17 for $61.58 million. The complex consists of studio, one-, two- and three-bedroom residences.
The four-building property sits on a 19.75-acre parcel of land. Building 1, where all 477 living units are situated, is a two-story structure built in 1972 with a base area of 338,192 gross square feet. Buildings 2, 3 and 4 are clubhouses and a leasing center built in 1972 and 1973 that range in size from 912 to 1,924 square feet. Community amenities include a 24-hour fitness center, three swimming pools, two dog parks and a picnic area.
The seller, Brandywine Multifamily Partners LLC, purchased the property in 2020 for $55.33 million. The purchaser, Excelsa Properties, is a real estate investor and asset manager based in Bethesda, Maryland. Excelsa plans to spend $8 million on improvements at the property, which marks the sixth multifamily acquisition within its Excelsa U.S. Real Estate II fund.
2271 Keystone Road, Tarpon Springs. Photo: Realtor.com.
Tarpon Springs home on 5.23 acres for sale
A five-bedroom, 3.5-bath home situated on 5.23 acres of land in Tarpon Springs has hit the market for $1.5 million. The 3,691 gross square-foot structure sits in the center of the property located at 2271 Keystone Road.
The two-story home was custom built by the sole owners who purchased the property in 1978 for $30,600. Interior features include brick flooring downstairs and original parquet wood flooring on the upper level; custom crystal chandeliers; solid brass detailing on the ceilings; and brass railings, hardware and plumbing fixtures. The first level offers 1,634 square feet of living space, including a master suite with an ensuite bath as well as a guest bedroom and a half bath. The 1,110 square-foot upper level provides a second master suite with solid 14k gold plumbing fixtures in the ensuite bath and private access to a front facing balcony. Two additional guest rooms are also upstairs.
Highlights include a new lifetime metal roof, professionally maintained septic tank, new garbage irrigation system, 80-foot deep well, a brick barbecue smoker and a double-sided wood-burning fireplace that has never been used. Outside is an attached two-car garage, barns and hidden paths.
The listing is provided by Shannon Perrott with Mihara & Associates, Inc.
2690 Enterprise Road E., Clearwater. Photo: Northmarq.
Clearwater multifamily complex sells
Enclave at Northwood, a 188-unit multifamily apartment community with an address at 2690 Enterprise Road E., Clearwater, sold July 19 for $28.25 million. The four-building complex is situated across two parcels of land with a combined 22.2 acres. It features one-, two-, and three-bedroom units within one and two-story block structures, each with an average of 1,076 square feet.
2692 Enterprise Road E is a two-building, 130,628 gross square-foot property. Both were built in 1985. Building 1, which houses 100 units, is a two-story, 116,070 square-foot structure with 89,081 heated square feet on the main level, 24,235 square feet upstairs and a 2,754 square-foot utility space. Unheated open and screened porch space adds another 12,348 square feet. Building 2 is a one-story, 1,951 heated square-foot clubhouse/recreation center.
2775 Enterprises Road also consists of two buildings, each completed in 1984. The 118,028 combined gross square feet is situated on a 11.89-acre parcel of land. Building 1 is a two-story structure with 88 living units. There is 89,064 square feet on the main level, 15,844 square feet on the upper level, and unheated screen and porch space totaling 11,280 square feet. Building 2 is a one-story structure with 1,504 heated square feet.
Unit interiors feature granite or Formica countertops, stainless steel or black appliances, vaulted ceilings, screened lanais, fireplaces and some with private backyards. Amenities include two pools, a large fitness center, lighted tennis court and mature trees and landscaping throughout.
The seller, 29th Street Capital, a Chicago, Illinois real estate investment firm, was represented by Northmarq’s Tampa investment sales team. The buyer was SELA Realty Investments, based in Fort Lee, New Jersey. According to a prepared statement by Northmarq, “SELA was attracted to this opportunity due to its highly infill location within the high-income residential Northwood neighborhood in Clearwater. New ownership plans to hold the asset long-term, benefitting from its strong tenant profile and unique construction-style, making it a desirable residential investment that checks all the buyer’s boxes.”
1761 Beckett Way, Tarpon Springs. Photo: Homes.com.
Tarpon Springs land and bar for sale
A mostly vacant plot of land with a bar on the Anclote River at 1761 Beckett Way, Tarpon Springs has listed for $1.1 million. The 1.36-acre front portion of the land is positioned along US Highway 19N, offering commercial venture opportunities with prominent visibility.
On the back of the property is the Anclote River Boat Club, which sits on 0.12 acres of land. The 2,063 square-foot dive bar was built in 1950 and provides docks and a boat ramp.
The sale includes both the real estate and the business. The listing is provided by Will Kochenour III and COL Robert Werthman USA (RET) with Santek Management LLC.
2062 20th Avenue SE, Largo. Photo: Realnex.com.
Largo industrial property sells
A flexible warehouse property located at 2062 20th Avenue SE, Largo sold July 19 for $5.725 million following the announcement of a short sale and liquidation of the property earlier in the month. The initial sales price was $4.5 million.
The combined 46,480 gross square-foot industrial property is situated on 7.07 acres and comprises three buildings. Building 1 is a 17,412 gross square-foot pre-engineered metal structure built in 1978. It has a base of 14,679 square feet, an office area of 2,085 square feet and a 648 square-foot loading platform. Building 2 is a 20,100 gross square-foot pre-engineered metal structure built in 1977. It has a base of 11,450 square feet, an office area with 3,000 square feet, a 550 square-foot retail space and a 5,100 square-foot loading platform. Building 3 is an 8,968 heated and gross-square foot pre-engineered metal structure built in 1977.
The property was last purchased by Blue Flowers Enterprises LLC in 2010 for $1.35 million. The purchaser, HK Largo, is a foreign limited liability company with offices in Atlanta. The listing was provided by Mark Ganier with Re/Max Realtec Group Inc.
Real estate agents: Please forward all news for Places This Week to Amy Kagan at amy@stpetecatalyst.com. Thanks!
