Skip to main content

A rendering of The Residences at 400 Central and John Catsimatidis (Catsimatidis via Getty)

Billionaire John Catsimatidis inaugurated the tallest tower on Florida’s Gulf Coast this week.

The 46-story condominium tower in St. Petersburg is also the first residential project outside of New York City and the first condominium project for developer and businessman Red Apple Real Estate. The project totals 1.3 million square feet.

The 400 Central residences are expected to span a full city block in the downtown core of the city. The plans call for 301 condo units and a handful of penthouse units. It is a mix of one to four bedroom units with a pre-build price starting at $ 800,000.

A rendering of the residences at 400 Central

A rendering of the residences at 400 Central

Some 35,000 square feet of equipment is planned for the tower, including a gym, lounge and theater. Residents will have access to an observatory on the 46th floor and a terrace on the seventh floor will include a pool and spa, a putting green, and an outdoor kitchen.

Michael Saunders & Company, based in Sarasota, is managing the lease for the project.

Catsimatidis, a developer who has made his fortune of more than $ 3 billion in oil refineries, gas stations with convenience stores and Gristedes supermarkets, told the Tampa Bay Business Journal that he expects some interest on the part of his compatriots in the Northeast.

“I think the Northerners are tired of Covid, tired of the cold, they are tired of the criminals, and they are going down,” he said.

The Greece-born New Yorker himself recently signaled a preference for Florida over his hometown, at least in terms of investment potential.

Catsimatidis lobbied to build three apartment towers on Coney Island to complement its 450-unit Ocean Drive project. He said he would take his money south if the city did not approve of his new plans.

“You have to get the most out of your investment,” he told The New York Post. “Why spend in New York when you can build in Florida?” “

Still, the occasional New York mayoral candidate appears to be a New Yorker at heart. Earlier this year he reportedly considered switching to the Democratic Party to give himself a better chance at Gracie Mansion, but ultimately decided not to and said if he ran again he would do so as republican or liberal.

Source link