St. Pete Icon Central apartment complex sells for nearly $150M

The luxury downtown Icon Central apartment complex has sold in a nearly $150 million deal.

The 15-story, 368-unit complex at 855 Central Ave. was sold to Camden Central LLC, the Camden Property Trust,  in a $149.6 million deal, or $406,666 per apartment unit.

Capitol Corporate Services Inc. acts as the agent for the Camden Property Trust. The Camden Property Trust is the same owner of the 357-unit Camden Pier District, which is planning an expansion that will add an 18-story, 95-unit tower to the complex at 330 3rd Street South.

An advertisement for the apartment building currently indicates a name change from Icon Central to Camden Central.

The Icon Central complex was completed in 2019 by Miami-based firm The Related Group for a project cost of roughly $80 million. The complex is on a prime real estate corner, sitting between the Central Business District and the Edge District.

The Related Group did not immediately respond to a request for comment; however, the company’s website does not show a listing of the property. The group’s other listings for Tampa Bay area properties include the Ritz-Carlton Residences in Tampa and many properties throughout South Florida.

The complex has 484,433 square feet of living space offering studio, one-, two- and three-bedroom apartments. The square footage of the units ranges from 576 square feet to 3,245 square feet.

The amenities include a state-of-the-art fitness center, yoga studio, zen garden and spa with private treatment rooms, sauna and a steam room. On the 8th floor, there’s a rooftop terrace with cabanas, an outdoor kitchen and fire pits.

There’s also a residents’ area that offers a movie theater room, a game simulator and a “museum-quality art collection” with work by Salvador Dali, according to the apartment’s website.

The sale follows a recent purchase from Tricera Capital, a Miami-based firm that has invested in downtown St. Petersburg and Sarasota.

Last month, Tricera Capital paid $11.1 million for the 15,000 square feet of ground-floor retail space and the adjacent Union Trust Bank Building.