A weekly roundup of local real estate deals.
United Insurance Holdings Corp., known as UPC, has sold a building east of its St. Petersburg headquarters as it no longer needs the space.
UPC sold several parcels across from its headquarters at 800 2nd Ave. S.to an LLC connected to the St. Pete-based Moyer Law Group in a $4.2 million deal. The buyer took out a $3,225,750 mortgage from Hancock Whitney Bank.
The parcels purchased at and around the property at 770 2nd Ave. S. include a 7,950-square-foot building, which was constructed in 1923, as well as parking spaces.
UPC General Counsel Brooke Adler said the company was utilizing the building for some of its employees; however, due to the shift towards having a remote workforce, the building no longer serves a purpose for UPC.
The current 42,000-square-foot HQ building will continue to be the home base for UPC.
UPC previously said it was outgrowing its space, but backed out of the deal to purchase new property due to the impacts caused by the Covid-19 pandemic.
Sundial deal closes
The Florida-based Paradise Ventures group closed on the Sundial property in a $21.13 million deal. Paradise CEO Mike Connor told the St. Pete Catalyst there was additional consideration for intangible property and goodwill.
Local businessman Bill Edwards, who has owned the property since 2011, transformed the once-dilapidated BayWalk complex into an upscale retail destination. There have been multiple negotiations over the years on selling the property.
Today, the shopping center’s tenants include Sea Salt St. Pete, Ruth’s Chris Steakhouse, Chico’s, White House Black Market, Tommy Bahama, Diamonds Direct and the Man Cave barbershop, according to the Sundial’s website. The sale was for one parcel and doesn’t include the AMC Sundial 12 movie theater.
There are several large vacancies, including the spaces formerly occupied by FarmTable Kitchen and Locale Market.
Paradise Ventures is planning to build spec office space on the second level and add new retail and restaurant tenants, which Connor said he hopes to announce within the next 30 days.
Camden Pier District expands
The Camden Property Trust has been planning an expansion for the 357-unit Camden Pier District, which entails adding an 18-story, 95-unit tower to the complex at 330 3rd Street South.
The engineer is working with has filed stormwater plans for the system to be routed to the adjacent site where the additional building is going.
The proposed tower is in the downtown center zoning district, which allows for multi-family and mixed-use. The new building would match the contemporary architectural style of the existing 18-story tower.
The ground floor would have a residential lobby and residential units, which would each have a private courtyard. The 18th floor would be an outdoor amenity deck.
The parking garage for the existing apartment complex will be shared with the new residents of the tower, as the previous approvals contained excess parking spaces.
‘Old world feel’ St. Pete estate sells for over $3.45 million
A luxury waterfront estate in St. Petersburg has sold for $3,458,955 to an estate tied to the Barkett family. The family – for whom Tampa’s Amalie Arena is named – operates the Amalie Oil company. The deed includes the name Ken Barkett who serves as the CFO of Amalie Oil.
The 5,245-square-foot, five-bedroom estate at 7817 Causeway Blvd. N. features exotic hardwoods and stone flooring throughout. The home is described as having an “old world feel” with its custom iron doors, woodworking, arches and other touches.
“The home is meticulously designed with handcraft finishes. It’s a captivating place to be in,” said Rick Perry with Century 21.
The kitchen has custom cabinetry, offers Wolf, Fisher Paykel and Subzero appliances and is next to a formal dining area with a large wine room.
Upstairs is the master suite, which has a separate sitting area.
The Spanish-style home, built in 2008, has a pool and deep-water dock.
Dania Perry with Century 21 represented the sellers and Kelly Knetsch with Mihara and Associates Inc. representing the buyers.
City to sell lots in South St. Pete as part of the affordable housing program
The City of St. Petersburg has issued a notice that it intends to sell seven properties located in the South St. Petersburg Community Redevelopment Area. The listing is part of the Affordable Housing Lot Disposition program. These are the following properties for sale:
• 2026 42nd St. South
• 1901 Union St. South
• 2101 Queensboro Ave. South
• 2157 Queensboro Ave. South
• 2185 Queensboro Ave. South
• 1110 16th Ave. South
• 1600 12th St. South
For inquiries on the properties, interested parties should contact the city within 30 days. The contact person listed is Housing Development Specialist Luis Garcia; via phone at 727-892-5175 or email at LAGarcia@StPete.org.