SALTAIRE Luxury Condos in Downtown St. Pete Reservations to Begin Soon

by Liane Jamason

Coming Soon to Downtown St. Pete – SALTAIRE Condos!

Kolter, the developer known for their success at Water Club Snell Isle and ONE St. Petersburg, has recently announced that they have plans for another luxury condo project in downtown St. Petersburg, promising breathtaking water views.

Preliminary plans call for a 35-story condominium building containing approximately 200 residences as well as retail on the ground floor. The project is to be located at 300 1st Street South, which is currently being used as a surface parking lot for the Hilton St. Petersburg Bayfront hotel.

Kolter has quietly let a small photo of the rendering of their latest building, to be called “SALTAIRE” leak on their website – with two words – coming soon.

Current owners at ONE St. Petersburg received an email this morning (4/26/19) that they will have an early exclusive first opportunity to reserve a unit at SALTAIRE beginning May 2nd, with reservations for the general public to begin May 9th. With an estimated 30-month construction cycle, the tower is tentatively scheduled to open in 2022.

Remember, the best time to buy new construction in Downtown St. Petersburg is right when reservations begin as they will offer the deepest “pre-construction” discounts.   I just sold a unit at ONE that the owner bought in the early phases of pre-construction and he made over 30% profit.  We are seeing some owners making as high as 40% return on the condos they bought pre-construction.

You may be thinking – well I’ll just go to the model when it opens.  In the past, working with new construction buyers I have helped clients get months of HOA dues paid, closing costs paid, upgrades, etc.  in addition to coordinating everything throughout the purchase until closing. Realtors are paid by the developer from their marketing budget so it has zero effect on your bottom line purchase price whatsoever, but often we are able to negotiate better perks on behalf of our clients, because those working in the sales center represent Kolter’s best interest and bottom line, not yours.

While pricing for the units has not yet been determined, we expect that the level of quality and finishes will be similar to that of ONE St. Petersburg. Like ONE, this project will benefit from unobstructed water views, which are expected to attract luxury condo pricing.

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Published on 2019-04-22 16:20:49