Corner lot in St. Pete’s Edge district sells to Connecticut firm
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 23, 2021

A strip store in St. Petersburg's Edge district has been sold to a Connecticut company for $2.5 million, according to a deed filed in Pinellas County.

The property, at 16 Dr. Martin Luther King Jr. St. N, lies at the corner of Central Avenue and is across the street from a large piece of property bought by Belpointe last year.

The company bought 1.6 acres at 1000 First Ave. N for $12 million in October 2020. The company announced plans to build two 15-story apartment towers. At the base of each would be a four-story building that has 23,000 square feet of retail and 4,400 square feet of office space and two residential lobbies. The proposal for the redevelopment includes plans for a combined 256 residential units. The second, third and fourth floors of the proposed development will provide approximately 460 parking spaces for both residents and the public.

A representative from Belpointe could not immediately be reached for comment.

Belpointe has also made a series of purchases recently in downtown Sarasota including an 18,120-square-foot retail building for $4.65 million in August, just over 5 acres of a retail plaza for $20 million in November 2019 and a variety of downtown properties that span around 3 acres for about $13.6 million, according to the Sarasota County Property Appraiser's website.