Davis Islands waterfront properties sell for combined $12.5 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 31, 2023

A waterfront residential property on Davis Islands that's split into two separate lots has sold for a combined $12.5 million.

A private trust paid $9 million for the .41-acre 70 Ladoga Ave. and $3.5 million for the .17 acres at 68 Ladoga Ave. The seller of both properties was the Elizabeth B. Poe Trust, according to Hillsborough County property records.

The sale, which closed Oct. 30, appears to be an off-market transaction.

The purchaser used the private trust to secure mortgages from Raymond James Bank on both properties; the mortgage for 70 Ladoga Ave. is for $5.85 million, and the mortgage for 68 Ladoga Ave. is for $2.275 million. Both mortgages contain second home riders.

The home at 70 Ladoga Ave. is 5,197 square feet, according to property records. The home at 68 Ladoga Ave., which fronts 70 Ladoga Ave., is 5,112 square feet. Though both were built in 2001, they will likely both be torn down to make way for more modern homes, according to observers of the luxury real estate market.

Davis Islands is among the Tampa Bay region's most active luxury real estate markets. The family who bought baseball legend Derek Jeter's home on Davis Islands plans to tear it down and build a larger one. The home Jeter built was completed in 2011.

There were several high-profile sales on Davis Islands in October: The widow and daughter of Tampa philanthropist David A. Straz Jr. bought a home there for $6.35 million, and a former Tampa Bay Lightning player sold a home on Davis Islands for $10.8 million.