Luxury waterfront real estate deals set records in Pinellas County
By Breanne Williams
Tampa Bay Business Journal
Published: May 10, 2024

Several waterfront properties throughout Pinellas County have sold in the last few weeks, with many setting records for their respective neighborhoods.

The fluctuating property insurance market in Florida has led many buyers to prioritize new construction on waterfront parcels. With Pinellas County being largely built out, vacant waterfront parcels or new construction inventory remain scarce along the gulf and Tampa Bay.

48 Dolphin Drive

A waterfront home on Treasure Island sold for $7 million on April 22. The 6,400-square-foot home is still under construction but is expected to be complete in September. The sales price breaks down to roughly $1,093 per square foot.

Peter Arner and Amanda Van Slyke with Compass were the listing agents for the site.

“This is a record sale for an off-the-beach home in Treasure Island,” Arner told the Tampa Bay Business Journal. “Finding this much waterfront is rare, and from every side of the house, there is a water view. We had been looking at other properties this builder built and the buyer fell in love with the modern, clean style and design.”

117 Bay Point Drive

A waterfront home in the Snell Isle neighborhood of St. Petersburg sold for $9.6 million on April 30. The house, located at 117 Bay Point Drive NE, is 5,105 square feet and sits on an exclusive island in the neighborhood with 30 other homes. The pricing of $1,880 per square foot is a record for Snell Isle.

Kristen Naruns Burke of Northstar Realty listed the home for sale, and Jennifer Zales with Coldwell Banker Realty represented the buyer. Burke, Kirby Bryan and Georgia Janas comprise the Northstar Realty Luxury team.

125 Bay Point Drive NE

Another waterfront property in Snell Isle recently sold. The vacant lot at 125 Bay Point Drive NE sold for $5.7 million. The lot overlooks Tampa Bay and downtown St. Petersburg and is one of the few vacant parcels remaining in the Snell Isle community.

Robyn Gunn with Premier Sotheby’s International Realty listed the site for sale. Amy Bailey with Premier Sotheby’s International Realty represented the buyer.

“Simply put, 125 Bay Point Drive NE stands out as one of Pinellas County’s most remarkable waterfront lots,” Gunn said in a statement. “Few properties offer the breathtaking combination of unobstructed downtown and open water views that this lot does. The recent sale presented a rare chance for an incredibly fortunate buyer.”