John Catsimatidis launches Gulf Coast’s tallest residential tower

Like many a New Yorker earlier than him, grocery retailer magnate and actual property developer John Catsimatidis, has determined to offer Florida a go.

This week in St. Petersburg, the Gristedes proprietor broke floor on what, upon completion, would be the Florida Gulf Coast’s tallest residential tower, the 46-story, 301-unit luxurious condominium constructing, the Residences, at 400 Central.

Designed by Miami-based structure agency Arquitectonica, the 1.3-million-square-foot tower will characteristic facilities like round the clock concierge providers, a health heart, theater, personal eating room and a rooftop terrace outfitted with a pool and spa, placing inexperienced and bocce court docket. Units will vary from two to 4 bedrooms and 1,277 to five,600 sq. toes and include open flooring plans and floor-to-ceiling home windows.

The constructing may even embody an statement deck perched some 515 toes above downtown St. Petersburg the place, as Catsimatidis envisions it, “you can lay back and look at the sky and the moon and fall in love again.”

In current years, Catsimatidis has tried to carry a little bit of Florida to New York City together with his Coney Island rental complicated Ocean Drive. This time round, he’s determined to go straight to the Sunshine State itself.

The 46-story Residences would be the Gulf Coast’s tallest residential tower.
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While he was born in Greece and raised in West Harlem, Catsimatidis has a connection to St. Petersburg by his spouse, Margaret Vondersaar, whose dad and mom moved to the town from Indianapolis 40 years in the past.

“Her father always urged me to invest in St. Petersburg and that whole area, and an opportunity came along a few years ago, and I wrote a check,” Catsimatidis mentioned.

St. Petersburg “is coming around,” he mentioned. “You have a lot of young people. [The city] is becoming a real nifty town. A lot of boutiques — like the old Columbus Avenue where I grew up on the West Side. A lot of nifty people opening up all kinds of shops.”

What it lacks in title creativity, the Residences guarantees to greater than make up for in views and luxurious.
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Another, maybe surprising, profit to residing in St. Pete?

“Only two hurricanes in the last 100 years!” Catsimatidis mentioned.

In reality, regardless of Florida’s stormy fame, the final main hurricane to make landfall within the Tampa Bay-St. Petersburg space hit virtually a century in the past to the day, on Oct. 25, 1921.

Eat up these Gulf Coast vistas from a classy soak in a bathtub. Condo asks begin at $800,000.
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“So there are no hurricanes, the weather is great and there are no [state income] taxes,” Catsimatidis mentioned, detailing the town’s promoting factors. “Like 1,000 people a day are moving to Florida.”

Indeed, the state gained an estimated 330,000 new residents in 2020. Those new arrivals ought to present 400 Central with a gradual circulation of potential patrons. In any case, the constructing has already notched a minimum of one sale — Catsimatidis mentioned he’ll be taking one of many penthouses.

Units begin at $800,000 pre-construction. Catsimatidis mentioned the project, which may even embody 40,000 to 120,000 sq. toes of office area subsequent door, will probably be accomplished in round two years.

In addition to the residential items, the constructing will characteristic 60,000 sq. toes of retail. Catsimatidis doesn’t anticipate having hassle filling the area, however, he mentioned, “worse involves worst, you realize what I’m going to do?

“Open up a Gristedes!”

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