Red Apple Real Estate Breaks Ground on Florida Condos
Expected to deliver in 2025, this luxury project will be St. Petersburg’s tallest condo tower.
A rendering of the completed project. Image courtesy of Red Apple Real Estate
Red Apple Real Estate is starting construction on The Residences at 400 Central, a luxury condominium project in St. Petersburg, Fla. The company will pour two million pounds of concrete to begin foundation work at the property, which is expected to be online in early 2025.
The developer has hired Suffolk Construction as the project’s general contractor. Arquitectonica is the architect for the property, while Celano Design Studio has been hired as the designer. The company also tapped Michael Saunders & Co. to handle sales for The Residences at 400 Central. Bank OZK provided a $252 million construction loan in January.
The 46-story luxury tower is slated to become the tallest residential condominium building on Florida’s Gulf Coast, according to Red Apple. The community will offer 301 units in one-, two-, three- and four-bedroom floorplans. The largest offering, the building’s penthouse, totals 5,526 square feet. The units will be built with floor-to-ceiling windows, large sliding doors that lead to wrap-around terraces, walk-in closets and washer and dryer units.
Standing 515 feet tall, the community will offer more than 12,900 square feet of indoor amenity space and 23,100 square feet of outdoor common areas. The property will feature a sky lounge, theater lounge, coworking space, pool deck, outdoor kitchen area, dog walking area, private dining room and storage lockers. Red Apple is also planning to build Class A office space in the tower. The ground-level with host restaurant, retail and café space.
Located at 465 Central Ave., The Residences at 400 Central will be situated within downtown St. Petersburg. The location puts it near the city’s several cultural attractions, restaurants and retail options, while also offering a short commute to the University of South Florida’s St. Petersburg campus.
Building beyond New York City
According to Red Apple, The Residences at 400 Central has already been attracting buyers, including for the 4,237-square-foot $5.2 million penthouse on the 43rd floor. The company owns other properties in Florida and is actively exploring other projects in the state.
Red Apple has a wide-ranging residential portfolio, including more than two million square feet of multifamily properties in New York City, Pennsylvania, Ohio and Florida. A majority of its luxury residential projects are located in Brooklyn, including The Eagle at 86 Fleet Place and The Margo, a 228-unit mixed-use community that opened in September 2016.
