Indian Rocks Beach waterfront home listed at $10 million
By Breanne Williams
Tampa Bay Business Journal
Published: May 3, 2023

A waterfront home on Indian Rocks Beach is on the market for just under $10 million.

The 5,828-square-foot home at 32 Gulf Blvd. has 9,488 square feet of indoor and outdoor living space. The beachfront home also includes a private intracoastal dock with a 6-foot privacy wall and gated entry.

Peter Donnantuoni purchased the property in April 2020 and divided it into two 56-foot-wide lots. The property sits on the area known as The Narrows, which spans from the Gulf of Mexico to the Intracoastal Waterway. He and his daughter Danielle Donnantuoni are building two custom homes on the site, which Donnantuoni says is one of the most unique opportunities in Pinellas County.

After Donnantuoni retired from Kolter Communities in 2008, where he was the chief operating officer, he began developing properties with his daughter. He said they specifically look for properties along the gulf and intracoastal and have built 16 custom homes in the last decade.

They’ve built in Redington Shores, Indian Shores, Indian Rocks Beach, Treasure Island and St. Pete Beach. They recently completed two similar builds down the street from this property at 2 Gulf Blvd. and 20256 Gulf Blvd.

“The Intracoastal Waterway is on the right-hand side of Gulf Boulevard, and a handful of homes sit on the left side on the beach,” Donnantuoni said. “This doesn’t exist anywhere in Pinellas other than The Narrows area. It’s really incredible. It’s an exclusive area, too — there are only a couple of dozen houses on the beach there that also have the intracoastal area.”

Derrick Silvers of RTeam4U at Coastal Properties-Christie’s International is marketing the property for sale. He told the Tampa Bay Business Journal because of the exclusivity of the neighborhood and continued demand for residential real estate in Florida, similar properties are still going under contract at full price within 30 days despite the shift in the national market.

It has a modern finish, five bedrooms, five full en-suite baths and a powder bath. The property has a heated pool, spa, covered lanai and two gulf-front terraces. There are gulf or intracoastal views from every room in the house.

The home is three stories, with the first floor being an oversized six-car garage wired for EV charging stations. An elevator accesses all three floors.

The owner’s suite has panoramic beach views, a private coffee bar and a waterfront sitting room. The home also has five waterfront verandas and balconies.

Donnantuoni said finding a new build on a beach in Pinellas County is rare, even rarer in The Narrows. The second home, which has a coastal contemporary aesthetic, will be listed at a later date.

“If you go up and down the coast of Pinellas County, there is still a strong market in comparison to the west coast of Florida,” Donnantuoni said. “It’s always been true that Pinellas has lagged behind places like Sarasota and Naples. We found houses when looking for new builds on the coast that were going for $20 million, and they were comparable houses. And none had the ability to have a boat in the front yard, which is huge. Pinellas still has that opportunity.”