Downtown tower provides $149 million, best sale selling price in a ten years | Business Observer

ST. PETERSBURG — Icon Central, a residential tower in downtown St. Petersburg, has bought for a noted $149 million.

Camden House Have faith in, a Real Estate Investment decision Have faith in based in Houston, acquired the 15-story, 368-device complex

A spokeswoman for JLL Funds Markets, which marketed the residence, suggests in an email that the company would not disclose the sale price. But according to the true estate investigate agency the CoStar Team, Camden’s $149 million invest in cost was the greatest compensated for an apartment building in the metropolis in a 10 years.

According to CoStar, Camden paid $404,891 for every device, far increased than the regular for every-unit sale rate of $232,799. The researcher calls it the “priciest condominium sale in the town and the third-priciest apartment sale in the Tampa Bay location in a 10 years.”

CoStar reports that the creating is 2.1% vacant, which, together with Icon’s site, could have contributed to the sale cost. The ordinary vacancy costs in St. Petersburg is 5.8% and 4.8% in Tampa.

Icon Central was accomplished in 2019 and sits near each the Central Arts and Edge Districts of downtown St. Petersburg. Flats selection from studio to three bedrooms with rents starting at $1,963 and topping out at $7,744, in accordance to

Units involve private balconies and Italian cabinetry alongside with constructing large facilities that incorporate a rooftop terrace, steam area and Zen lounge, JLL states in a statement saying the sale.

Miami-centered Tricera Capital acquired the 15,000-square-foot floor ground retail part of the constructing in July for $11.1 million. The sale of the retail part was independent from the flats, the spokeswoman says.