Market Overview

Engel & Völkers St. Pete Breaks Record for Highest Priced Condominium Sale in St. Petersburg at $5.1M

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ST. PETERSBURG, Fla., July 9, 2020 /PRNewswire-PRWeb/ -- Engel & Völkers today announced the record-breaking sale of 100 1st Avenue N., PH 4103, a penthouse unit in The One, St. Petersburg's newest residential high-rise building. Advisor Paul Kalloghlian of Engel & Völkers St. Pete represented the buyer in the $5,100,000 purchase, which is the highest sale price seen for a condominium unit in St. Petersburg within the last 12 months and the third highest in the city's history.

"I feel incredibly grateful for the opportunity to facilitate this sale and it was more than a transaction for me," said Kalloghlian. "I realized that in the wake of COVID-19, I had not truly connected and formed relationships beyond my more immediate circle. What started as an invitation for socially-distanced cocktails with neighbors who we didn't know well, became a great friendship. The clients' thirst for more space due to their children visiting them more often and needing a home office space became a driver for change, even amid a pandemic. It was a life-changing time which culminated into a friendship and ultimately a sale."

The nearly 4,000 square-foot penthouse features three bedrooms, three bathrooms, one half bathroom, state-of-the-art kitchen appliances, imported European cabinetry and quartz countertops, rich porcelain flooring throughout the main living areas and extended living space onto the expansive, private terrace with glass balcony rails.

"Our market here in St. Pete continues to show incredible strength," said Leisa Erickson, License Partner and Broker of Engel & Völkers St. Pete. "This sale is a testament to our amazing downtown waterfront which overlooks Tampa Bay, our great city parks, restaurants, museums, and general walkability as well as bikeability. We enjoy one of the best lifestyles in the country and are fortunate to experience continued development in our city to bring both new condo projects as well as businesses here for our growing population."

The One is St. Petersburg's newest high-rise condominium building overlooking the bay in Downtown St. Petersburg. The luxury building offers over 250 condos and is the tallest building in Downtown St. Petersburg. Community features include a soaring 30-foot-high atrium lobby, three owners' lounges, private bar, a 5,000 square-foot free-standing fitness center, 40,000 square-foot amenity level complete with 75-foot lap pool, hot tub, grills, cabanas, a club room with catering kitchen, formal dining with daily coffee service, 24/7 security and valet and on-site property management and concierge.

The median home value in Downtown St. Petersburg is $633,019. Downtown St. Petersburg home values have gone up more than 6-percent over the past year. Selling at $1,304 per square foot, the median list price within The One penthouse is six-times higher than the median list price per square foot in St. Petersburg, which is $205.

Press contact:
Linzee Werkmeister, Director, Public Relations & Franchise Support
Email: Linzee.Werkmeister(at)evrealestate.com
Tel: (239) 348-9000

About Engel & Völkers:
Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a bespoke, white-glove concierge client experience at every stage of the home buying or selling process for today's savvy homeowner. Engel & Völkers currently operates approximately 175 shop locations with more than 4,000 real estate advisors in the Americas, contributing to the brand's global network of over 12,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate, yachting and aviation. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit evrealestate.com.

About Engel & Völkers Florida:
Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida's exclusive franchise model positions its license partners at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in: 30A Beaches, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Fort Myers Downtown, Gainesville, Islamorada, Jacksonville, Jacksonville Beach, Jupiter, Leesburg, Madeira Beach, Marco Island, Melbourne Beachside, Melbourne Central, Melbourne Downtown, Miami Coconut Grove, Olde Naples, Orlando Downtown, Orlando-Winter Park, Palm Beach, Palm Coast, St. Augustine, St. Pete, Stuart, Wellington, and Windermere.

Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network, which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000.

For more information about Engel & Völkers Florida, please visit florida.evrealestate.com

 

SOURCE Engel & Völkers Florida

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