Waterfront home in Westshore's Beach Park Isles sold for nearly $3 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 13, 2015

The recent sale of a waterfront home in Westshore's Beach Park Isles neighborhood illustrates the urgency in Tampa's luxury housing market.

A home on Beach Park Isles sold for $2.7 million on April 3, according to a Hillsborough County deed filed Friday. The seller, Christina Lavery, paid $2.025 million for the home in 2012. The buyer was Craig Turnbull.

The property was on the market for 10 days before it went under contract, said Stephen Gay, an agent with Smith & Associates who had listed the property for sale.

"There was a lot of interest," Gay said. "There's not a lot of product available on the water."

When there's limited availability and high demand in any market, the effects are twofold: It creates fierce competition for properties, which can result in bidding wars that drive up prices. It can also drive new construction, as developers and investors see opportunity - and that's already happened in Tampa.

Developer Vincent Cassidy has two speculative mansions under construction - one on Culbreath Isles and one on Davis Islands- and has sold three others.

The Beach Park Isles price breaks down to more than $500 per square foot. The home, built in 2006, has four bedrooms, five and a half bathrooms and a pool overlooking the water.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.