Red Apple Group’s downtown tower sees $150M+ condo reservations

Red Apple Real Estate’s planned 46-story tower in downtown St. Petersburg has surpassed more than $150 million worth of reservations on condominiums. 

400 Central is a 1.3 million-square-foot development in the heart of St. Petersburg that will offer 301 luxury homes, ground-floor retail and restaurants, and Class A office space. New York-based Red Apple Real Estate, headed by John Catsimatidis Sr., is the group behind the development, which will be the tallest tower in the city. 

The $150 million worth of reservations at The Residences at 400 Central were made during the first 90 days of sales.

The number of units reserved was not disclosed, but the total project will have 301 condominium homes that will consist of one-to-four-bedroom floorplans and custom penthouse homes. The units start at $800,000. 

“St. Petersburg is a special place, and we are delighted to be developing this high-quality project in a community where our family has had roots for more than 30 years,” Catsimatidis said in a news release. “To have so many buyers respond so well, and so quickly, has far exceeded our expectations.”

Catsimatidis previously told the St. Pete Catalyst that he plans to live in a penthouse of the condo, as he is fully invested in continuing work in the community. He has family ties in St. Pete, which he says truly spurred his interest in planting roots in the city with this development. 

Initial construction started in late January for the tower, and in October Red Apple and Sarasota-based real estate firm Michael Saunders and Company opened the sales gallery across from the site at 465 Central Ave.

New York billionaire John Catsimatidis Sr. of the Red Apple Group, left. and architect Bernardo Fort-Brescia. Photo: Veronica Brezina.

Site preparation includes the process of relocating utilities that currently run under the property and removing underground obstructions from the site. The development is expected to take three years to complete. 

Although prospective residents can’t physically tour the units before reserving them, the sales gallery features interactive displays and advanced digital systems to allow residents to tour the units virtually. The sales gallery also has rooms designed to replicate the rooms in the units such as the bathroom and kitchen. 

The residents of 400 Central will have 35,000 square feet of indoor and outdoor amenities.

The Sky Lounge Observatory, located on the 46th floor, will offer panoramic views. Other amenities include a fitness and wellness center, co-working space, a boardroom, a theater room, and a private dining room and entertainment area.

The SkyLounge. Rendering.

Outdoor amenities will be on the 7th-floor amenities deck and an expansive rooftop terrace with a resort-style pool and spa, a putting green, a bocce court, an outdoor kitchen, a dog walking area and a fire pit.

Renowned  Miami-based architecture firm Arquitectonica designed the units. 

A rendering of the 46-story, full-service residential tower that will consist of 301 condominium homes. Red Apple Real Estate.

Although the marketing and sales focus is currently concentrated on the condo units, the tower will have roughly 45,000 square feet of flexible office space and 20,000 square feet of ground-floor retail.