Developers of The Residences at 400 Central are celebrating a new milestone. Reaching over $250 million in sales of residential condominiums in the 46-story tower overlooking downtown St. Petersburg and the waters of Tampa Bay. Amid the wave of recent sales at 400 Central is an expansive penthouse that recently sold for $5.23 million.
Construction of the tower portion of the project has reached above the 11th floor and the podium portion is getting underway. The project occupies a full city block along the Central Avenue corridor.
“The word is out about this iconic project,” said John Catsimatidis Sr. He’s the founder of Red Apple Real Estate and principal of the company that is sponsoring development of The Residences at 400 Central. “Our sales have come from across Florida, the Northeast, the Midwest and the West. This project is especially meaningful to me, as St. Petersburg is so close to my heart and my family’s heart.”
Mr. Catsimatidis has deep family ties to the St. Petersburg community. John’s wife Margo is a St. Petersburg native, and the Catsimatidis family has been visiting St. Petersburg for more than 40 years. John and Margo have supported a number important of community initiatives, including artistic elements of the St. Pete Pier, the Poynter Foundation, the Greek and Russian Orthodox Church, the St. Petersburg Museum of History, the Holocaust Museum, the Dali Museum, and Florida CraftArt.
More about The Residences at 400 Central
When complete, the 46-story building is anticipated to become the tallest residential building on the west coast of Florida. It will include 301 luxury condominium homes, ground-floor retail and restaurants, as well as Class A office space. The resident’s only Sky Observatory on the 46th floor offers residence owners the opportunity to enjoy views from the highest point in St. Petersburg.
Red Apple has also opened discussions with prospective retailers and restaurant operators that could occupy the ground floor of the new building. Retail opportunities are available along the entirety of Central Avenue as well as Fifth Street and First Avenue South. When complete, the 60,000 square feet of retail at 400 Central will create new amenities and destinations.
For companies looking to locate their operations in St. Petersburg, 400 Central will have approximately 45,000-square feet of Class A office space atop the building. This will be fully serviced with parking, state-of-the-art data and connectivity, private commercial elevator access, and flexible floorplans. The 400 Central commercial space will become a premiere corporate destination for downtown St. Petersburg.
“We have been in touch with a number of prospective tenants who want to expand or move to Florida, and who feel 400 Central is the perfect location to open their restaurant or business,” Catsimatidis said. “We are looking for a destination restaurant that will be something truly special and elevates the dining experience in St. Petersburg.”
