Downtown St. Pete penthouse sells for $6.5M
By Breanne Williams
Tampa Bay Business Journal
Published: Jan 25, 2023

A penthouse on the 41st floor of ONE St. Petersburg has sold for $6.5 million.

The buyer was Gregory Schratwieser, according to Pinellas County property records, and the seller was a corporate entity linked to Tampa-based Third Lake Partners. The deal closed on Jan. 17.

ONE St. Petersburg, at 100 First Ave N. in the heart of downtown, has 253 units. The sales price breaks down to $1,625 per square foot, which is near the very top of the market for luxury condos in Tampa Bay.

The approximately 4,000-square-foot condo was designed by Michelle Miller Design. Each room has a custom-designed ceiling, and the kitchen has two long islands with waterfall edges made with 3-inch Pompeii quartz. The cooking appliances are Wolf, and the condo was outfitted with antique doors from India.

This penthouse has both east- and west-facing views, along with views of the water and the southern end of Pinellas County.

The three-bedroom, three-and-a-half-bathroom penthouse was “very desirable,” said Liz Heinkel with Smith & Associates Real Estate. Heinkel represented the buyer and seller in the transaction. She said ONE St. Petersburg — which went under construction in 2016 — has become the crowning jewel of St. Pete.

“I think we had a lull in the fall because of the two hurricanes and the start of many pre-construction sales,” Heinkel said. “People are starting to come back to town, and they fall in love with St. Pete and begin looking for a place to live here.”

Heinkel said there will soon be a unique variety of luxury residences in St. Pete — a mix of larger and boutique condo buildings.

There are other larger developments in the pipeline like The Residences at 400 Central and Kolter’s Art House as well as luxury boutique condos like The Nolen, which is coming to Fourth Avenue NE near The Vinoy, and The Residences at Orange Station, which is part of the Orange Station development on Central Avenue.

Many of the smaller boutique developments that are located further into the city are being offered for a price point that Heinkel said is attainable for younger executives.