Done Deals: $250M condo project coming to Clearwater Beach, Affordable housing complex sells, St. Pete florist sells warehouse
/Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Luxury condo development coming to Clearwater Beach
A new rednering of the future Viceroy Residences Clearwater Beach development | BH3 management and u.s. development
A $250 million luxury condo development will be built on Clearwater Beach.
National real estate investment group BH3 Management and New Jersey-based U.S. Development recently revealed plans for the Viceroy Residences Clearwater Beach, an 86-unit condo development just north of Sand Key at 551 South Gulfview Boulevard.
Viceroy is a luxury brand of hotels and resorts with 10 locations in locales such as Mexico, Portugal, Serbia, Saint Lucia, and the United States. There are also Viceroy-branded residences in Mexico, Portugal, St. Lucia, Fort Lauderdale, and Miami.
The Viceroy Residences Clearwater Beach will feature two identical nine-story buildings overlooking the Gulf of Mexico.
Residents will have private beach access | BH3 management and u.s. development
The two-to-five-bedroom units will range from 2,078 to 3,443 square feet and be priced between $2.5 million and $12 million.
Being a waterfront property, the developers have mitigated the risk of future hurricane damage by ensuring the dual concrete buildings will be built at a higher elevation with windows capable of withstanding winds up to 165 miles per hour.
Additionally, Viceroy Residences' amenities will include a private beach, valet service, a private restaurant, a gym, a spa, hot and cold plunge pools, and a resort-style pool.
A rendering out of the outdoor dining | BH3 management and u.s. development
“Viceroy Residences Clearwater Beach will redefine Gulf-front living in the region, setting a new standard of luxury yet to exist in Clearwater Beach,” John Farina, CEO of U.S. Development, said in a media release.
The joint venture partners acquired the property in February for $24.75 million - making it the most expensive vacant lot ever sold on Clearwater Beach.
The property was once home to the Fisherman Wharf’s restaurant.
Sales for Viceroy Residences are expected to launch in January and construction will commence in late 2025. Smith & Associates Real Estate is the exclusive broker of the development.
Citrus Grove apartments sell
Citrus grove apartments | apartments.com
The 84-unit Citrus Grove Apartments in South St. Petersburg has sold for $16.5 million.
The Foundation for Affordable Housing Inc. sold the affordable housing complex at 731 15th Street South to Lincoln Avenue Capital, a subsidiary of California-based affordable housing investment firm Lincoln Avenue Communities.
Earlier this year, Pinellas County Commissioners unanimously approved issuing $22 million of tax-exempt bonds to rehab the Citrus Grove Apartments.
At the time, the pending buyer Lincoln Avenue Capital said they planned to spend up to $80,000 upgrading each unit with new cabinets, appliances, electrical systems, and plumbing.
In addition to renovating the community, the bonds also funded subsidies to ensure they remain affordable through 2061.
The units range from a one-bedroom, 575-square-foot unit to a four-bedroom, 1,066-square-foot unit for residents earning up to 60% of the area median income (AMI).
The three- and four-bedroom units will have additional bathrooms and there may be new and upgraded residential amenities. Currently, the complex offers limited amenities such as a playground.
St. Pete wholesale florist sells warehouse
Hall's St. Petersburg Wholesale Florist Inc.’s shuttered warehouse | loopnet
Hall's St. Petersburg Wholesale Florist Inc., a local supplier of fresh-cut flowers, glassware, and supplies, has sold its warehouse located on Joe’s Creek at 3101 44th Avenue North.
The florist, which recently closed after being in business since 1965, sold the 12,500-square-foot complex for $1.6 million to KTMIL Investments LLC.
The LLC is connected to husband-and-wide Emilio and Katie Sosa, owners of Sammy’s Seafood, a wholesale and retail market selling local and imported seafood.
Founded in 2002, Sammy's Seafood operates a market on the other side of Joe’s Creek at 2875 46th Avenue North where it sells everything from fresh oysters and lobster rolls to hot sauces and honey during their retail hours.
Wendy's restaurant on Fourth Street sells
The Wendy’s at 4047 4th Street North | southeast restaurant group
A Wendy's fast-food restaurant along St. Pete's Fourth Street has sold for nearly $2.78 million.
Pinellas Park-based Belleair Development Group sold the restaurant at 4047 4th Street North to Pall Properties LLC, which is connected to Louis DiMaria, CEO of Long Beach, NY-based South Shore Funding.
The 3,575-square-foot drive-thru restaurant was built in 2016, adjacent to Mavis Tires & Brakes and directly across from French Quarter North Condos.
