Four more penthouses under contract at the Residences at 400 Central
By Breanne Williams
Tampa Bay Business Journal
Published: May 15, 2024

Four more penthouses are under contract at the Residences at 400 Central, a 46-story mixed-use luxury tower in downtown St. Petersburg.

New York-based Red Apple Real Estate, the tower's developer, said Wednesday that four penthouses have gone under contract since the start of 2024, three in the last 30 days, totaling more than $15 million. A $5 million penthouse on the 43rd floor went under contract in 2023. Of the tower's 301 condos, it's believed 20 are penthouse units.

“These recent penthouse sales demonstrate the strong interest in living amid the vibrant downtown life of St. Petersburg, and it shows the extraordinary demand for residences at the upper end of luxury living,” John Catsimatidis Sr., founder of Red Apple Real Estate, said in a release.

The penthouses range from 2,400-square-foot units with three bedrooms and three bathrooms to a 4,300-square-foot residence with four bedrooms and four and a half bathrooms.

According to Red Apple, the Residences at 400 Central contracted more than $50 million in condominium sales during the first quarter of 2024. Suffolk Construction Co. is the general contractor.

In addition to condos, the tower also includes ground-floor retail and restaurants, and approximately 45,000 square feet of office space. The office space will have private commercial elevator access, flexible floor plans and views overlooking Central Avenue and Fifth Street.

Red Apple has begun discussions with prospective retailers and restaurant operators for the tower's ground floor. Retail opportunities are available along Central Avenue, First Avenue South and Fifth Street. The tower will have 60,000 square feet of retail space in total.

“We have been in touch with a number of prospective tenants who want to expand or move to Florida, and who feel 400 Central is the perfect location to open their restaurant or business,” Catsimatidis said in a release. “We are looking for a destination restaurant that will be something truly special and elevate the dining experience in St. Petersburg.”

Amenities include a Sky Lounge Observatory on the 46th floor, a theater lounge, a fitness and wellness center, a pool deck, private coworking space, an outdoor kitchen and dining area, a private dining room and a dog-walking area. Construction has reached the 32nd floor of the tower and the podium portion of the tower is “well underway,” according to Red Apple.

When complete, the Residences at 400 Central will be the tallest residential tower on the west coast of Florida.