Places This Week: Developer secures $87.5M for new apartments
A weekly roundup of local real estate deals.
Developer assumes loan for St. Pete apartments
Developer Stock Development has secured an $87.5 million mortgage loan from CIBA Bank, marking a major milestone for its planned apartment complex in St. Petersburg.
The garden-style Arya Apartments complex is currently under construction at 5475 3rd Lane North, near the intersection of 4th Street and 54th Avenue North.
A rendering of a gathering space inside the planned Arya Apartments complex. All images provided.
Keith Gelder, president of Naples-based Stock Luxury Apartment Living and Stock Commercial, said the site work is done and the underground utilities are nearing completion for the 415-unit development.
A rendering of a meeting space inside Arya Apartments.
Arya will include two five-story apartment buildings, four four-story apartment buildings, and five two-story carriage home buildings. Private garages will be provided on the ground floor of the carriage homes and four-story apartment buildings while the five-story buildings will have structured parking on the ground floor, according to the company.
The amenities will include a 15,000-square-foot clubhouse, a 3,000-square-foot fitness center, a resort-style pool with lap pool and dog parks.
A rendering of the fitness center in Arya Apartments.
Gelder set the next step is to start the paving process. He expects the first residential move-ins to commence by the second quarter of 2024.
Stock Development purchased the 19.79-acre property in June 2020 for $10.8 million, from an entity connected to developer Grady Pridgen. The site was the home of the former Venetian Motor Home Court mobile home community.
Goodyear Rubber sells more real estate assets
Goodyear Rubber Products Inc. has sold three more buildings in St. Petersburg’s Grand Central District.
The owner, Bob Jacobs, has sold the adjoining properties 1912 and 1916 Central Ave. and property at 1957 1st Ave. S, according to Barkett Realty.
The additional sales come after an investor purchased the building at 1900 Central Ave. in a $2.39 million deal from the Jacobs family, which has operated the Goodyear Rubber Products corporate headquarters in St. Petersburg for 74 years, distributing industrial rubber products.
Goodyear Rubber Products’ building at 1922 Central Ave. Photo provided by Barkett Realty.
The real estate firm is listing the last remaining building at 1922 Central Ave., located on the south side of Central Avenue and west of 19th Street.
The 8,370-square-foot building was constructed in 1948 and is currently used as warehouse storage.
Car washes sell
Palm Harbor-based Main Street Car Wash Inc., operating as Main Street Xpress Car Wash, has sold two of its local facilities.
Main Street Xpress Car Wash at 12855 Walsingham Road in Largo. GoogleMaps.
The business sold both its facility at 12855 Walsingham Road in Largo and 1255 Blecher Road in Clearwater in a $13.1 million deal to an entity called Cadet 23 LLC, which is connected to Cogency Global Inc., a transaction services provider.
Venetian Isles estate sells for over $5 million
The waterfront Venetian Isles estate at 1915 Carolina Ave. NE. has sold in a $5.3 million deal.
Estate at 1915 Carolina Ave. NE., St. Petersburg. Realtor.com.
The 5,026-square-foot estate, built in 2021, boats large glass walls showing the view of the property’s 91 feet of deep-water frontage.
The five-bedroom house has an expansive upper balcony and lanai adding an additional 1,400 square feet of outdoor living and entertaining space that includes an outdoor kitchen, a gas fire pit lounge area, artificial turf and a heated infinity-edge saltwater pool, according to the listing.
Estate at 1915 Carolina Ave. NE., St. Petersburg. Realtor.com.
A floating staircase leads to four bedrooms including the primary suite, a laundry room and the upper-level family/entertainment room with built-in cabinetry and a wine refrigerator.
Carol Fasick Joyce with Coldwell Banker Realty represented the sellers. Marci Carter with Premier Sotheby’s International Realty represented the buyers.
The property last sold for $4.5 million in 2022.
