Indian Rocks Beach waterfront home lists for nearly $11 million
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 12, 2023

A beachfront home with Intracoastal Waterway access that was built speculatively on Indian Rocks Beach has been listed for $10.995 million.

The 5,825-square-foot home, located at 34 Gulf Blvd., is the latest project from Peter Donnantuoni and his daughter Danielle Donnantuoni. The duo recently sold a home adjacent to this site for $10 million, which was among the most expensive single-family homes ever sold in Pinellas County. The property is in the area known as The Narrows, which spans from the Intracoastal Waterway to the Gulf of Mexico.

“The only new houses that have been built on The Narrows are the four houses we’ve built,” Donnantuoni told the Tampa Bay Business Journal. “These opportunities don’t come around ever, really. In six years, we’ve done four houses on The Narrows. They’re rare, and no one else really does it. People want to stay, and the hardest thing nowadays is finding land. The value keeps going up dramatically.”

Derrick Silvers of RTeam4U at Coastal Properties-Christie’s International is the listing agent for the property. Donnantuoni says this is the only completed new home along the Gulf of Mexico — excluding the panhandle.

The home features a Key West design coastal contemporary interior with five bedrooms and five and a half bathrooms. The waterfront house also includes an office, a gourmet kitchen with two oversized islands, an elevator, and a six-car garage that is pre-wired for two electric vehicle charging stations. The site also has a private gated entrance.

Treasure Island-based Matta Architecture was the architect for the project. The father-son team designed the home and the father-daughter team built it.

Donnantuoni said the rapid increase in land prices, the continued supply chain issues and the ongoing labor shortage have made it increasingly difficult to build. The whole market has “gone through the roof” and led to major delays. This home took Donnantuoni a year and a half to complete, which he said is much longer than some of his other builds. However, he has friends in the industry who see three-to-four-year timelines for the custom homes they’re attempting to deliver.

“Every house we build, though spec, has custom attributes,” Donnantuoni said. “We don’t duplicate any houses; we just don’t take them to the market until it's 100% complete. It makes it a little simpler because right now it’s very difficult to build, and we can make decisions quickly without going back and forth on design changes.”

Buyers rarely want to wait, so he feels comfortable building spec on the beach. Luxury buyers wanting to either find a second home or a new primary residence are eager for new construction that they won’t have to build over the course of several years.

The house next door at 32 Gulf Blvd. was listed in early May and sold on June 9. Donnantuoni said the buyers were one of the first to see the property. Another couple expressed interest in the site as well because it offers both beachfront views and access to the Intracoastal for boat enthusiasts. He said he has seen interest from people “all over the country.”

“This is what most people dream about, and it really doesn’t exist anywhere else,” Donnantuoni said. “And Pinellas County is still a value compared to Sarasota or Naples or some of these other areas. Pinellas — though prices have gone up dramatically‚ is still a value compared to other places in Florida.”