357 on 5th

In both Downtown St. Petersburg and Downtown Tampa we are starting to see many new construction developments coming up – although not quickly enough as the inventory of homes available is at an all-time low!  Since I have had my license (12 years now – licensed in 2006) I have not seen inventory this low.  We are at a 2.4 month supply which means that if no more homes came on the market, we would sell out in 2.4 months.  To give you a gauge – a 6 month supply is considered a “balanced” market, more than 6 months is a buyer’s market.

The latest project to hit the Downtown St. Pete market is the new 357 on 5th mid-rise condominium project listed by Smith & Associates Real Estate. This boutique project is being developed by Dr. Julie Kessel of Blue Night Owl, LLC. and the architect is PLACE.

Some of the amenities you will find include a 6th-floor rooftop terrace, keypad access, elevator, world renowned artist and St. Petersburg resident Ya La’Ford commissioned original pieces, per floor disposables, dog washing station, fenced dog courtyard, bike racks and more.  Each unit will feature quartz countertops, plank tile, 10 ft ceilings, expansive terraces, LED lighting, gas cooktops, kitchen island in each home, modern baseboard trim, tall kitchen cabinets.

357 on 5th will be 7 floors with 13 units with estimated completion date of December 2019.  This building will feature three spectacular two-story penthouse units, each with 3 bedrooms and 3 baths, as well as eight 3 bedroom 2 bath units and two 1 bedroom 1.5 bath units.  Prices range (currently) from $399,900 to $1,299,000.

Current pricing is as follows as of 10/11/2018. Keep in mind prices may change, contact us to verify current pricing:

You can’t beat the location and finishes in these units.  Contact us today to schedule your private consultation with the developer’s representative.  The developer is currently offering an incentive for a limited time for the first pre-construction contracts. The current offer is a $5,000 for the first five homes contracted, or $10,000 for the first Penthouse contracted towards closing costs or upgrades! 10% deposit is due at contract signing with an additional 10% deposit due 30 days later.

Remember – when shopping for new construction – it’s imperative to call us as your exclusive buyer’s agent.  When you walk into a model center alone, you are going in unrepresented and the sales person on site represents the developer’s best interests.  When we represent you, we are paid a commission by the developer, so it costs you nothing to have us negotiating on your behalf.   Please call us before you go to a model center or we cannot be much help afterwards once you are registered with the builder.  Read more on why you need a buyer’s agent when purchasing new construction.

357 on 5th will be located at the corner of 4th Ave S and 5th Street S in Downtown St. Petersburg.