SALTAIRE will be Kolter’s 2nd luxury condo tower to be built in Downtown St. Petersburg. Contracts have begun and are going fast! As of April 19, 2021, the project is approximately 73% sold and is scheduled to begin closings in early 2023.
Plans call for a 35-story condominium building containing 194 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.
There will be 7 units per floor with 5 of the floor plans having direct water views. There will also be a few 2 story loft style units on floors 2-3 which are expected to be approximately 2,000 square feet each. Prices currently range from the mid $800K’s to over $6.4M for one of the 4 available penthouses. Prices can and will change – typically developers raise prices as time goes on and the best opportunity for the lowest pre-construction pricing is now, at reservation.
A few features that are different at Saltaire from ONE include a covered circular driveway entrance, the amenities deck will face east, i.e. will offer water views. Most units will have laundry rooms with utility sinks and there will be a 7th floor dog park. Another change from ONE is that several floor plans offer bathtubs – a must-have if you are like me and enjoy a long bubblebath now and then. Overall the floor plans offer more square footage than the comparable units at ONE St Petersburg. Floor plans range from 2 bedrooms to 4 bedrooms + den (penthouse).
I wrote recently about how Resale Prices Skyrocket on Condos at ONE St. Petersburg. These were condos that the owners purchased pre-construction and then flipped brand new, upon completion. We are seeing returns between 30-40%. Perhaps there is something to be learned from what’s happened historically and buying pre-construction is always when pricing is at it’s lowest.
As far as reservations – 10% is due at contract signing. 20% additional is due within 90 days for a total of 30% down.
If you’d like to schedule your reservation appointment at SALTAIRE, please fill out the form below and we will be happy to coordinate it for you. There are additional units available besides those listed above in the MLS system.
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We are not the listing agent for SALTAIRE. We represent you as your exclusive buyer’s agent and have sold Kolter projects in the past. This service is free to you as a buyer and in no way affects the price of the unit you choose.