15 Jul

Smith & Associates Closes $5.9 Million Sale of 300 Central Avenue in St. Petersburg, FL

Smith & Associates Closes $5.9 Million Sale of 300 Central Avenue in St. Petersburg, FL

Smith & Associates Real Estate, a Tampa Bay owned and operated Real Estate firm, has completed the sale of the Coronet Apartments, a 10-story apartment building located at 300 Central Avenue in St. Petersburg, FL, for $5,975,000.
 
Patrick Calhoon worked as a transaction broker with The St Petersburg based Seller, LV Spirits LLC, and the Buyer, 300 Central, LLC to effect the sale, and was aided by his son Chris, also part of the Calhoon Commercial Group. Calhoon is a commercial broker with 33 years of experience in Pinellas County and over $300,000,000 in closed transactions.

Built in 1935 and located at the intersection of 3rd Street North and Central Avenue, the building was originally used for office and retail space.  After several renovations and additions, it became the Coronet Apartments and now includes 40 apartment residences and ground floor commercial space.
 
“300 Central Avenue is in the heart of the burgeoning downtown St. Petersburg market – close to the ONE St. Petersburg condo and hotel tower and the yet to be developed 4th Street block by Red Apple,” said listing agent Patrick Calhoon. “Located within walking distance of award-winning restaurants, renowned museums, galleries, entertainment venues, and sought-after shopping, 300 Central Avenue offers unparalleled potential.”
 
“The sale of 300 Central Avenue is another indicator that Downtown St. Petersburg is in-demand,” said Bob Glaser, President & CEO of Smith & Associates Real Estate.  “We are proud of the hard work of Patrick and his team in bringing this sale to completion and are pleased to continue to play a role in adding to the vibrancy of this great city.”