Excerpted from Tampa Bay Business Journal story.
From new towers to reviving aging properties, there’s no shortage of interest in Tampa Bay’s multifamily real estate.
The apartment sector — developing new communities and renovating old ones — has been a hot investment category for several years. Now, the multifamily market is evolving to include the development of new luxury condo towers.
Below is a roundup of notable transactions and project proposals in the second quarter of 2019.
Enclave at Sabal Pointe
ADDRESS: 2148 54th Ave. S, St. Petersburg
SALE PRICE: $7.3 million, or $66,972 per unit (45 percent of units)
SELLER: Franklin Street
BUYER: Axonic Properties and SLRE Florida Holdings LLC
INFO: Enclave at Sabal Pointe, built in 1973, comprises 109 rental units of a 240-unit complex. Darron Kattan, Zachary Ames, Kevin Kelleher and Avery Jordan of Franklin Street’s Tampa office represented New York City-based buyer Axonic Properties and SLRE Florida Holdings LLC, the Israeli/Miami-based seller, in the transaction.