Sale Signals High Demand for Luxury Condominiums in South Tampa
The Sanctuary at Alexandra Place, a South Tampa luxury condo tower rising on iconic Bayshore Boulevard, is completely sold-out prior to completion.
The 17-story luxury tower is the first of its kind in Tampa to give homeowners the entire floor with private elevator access. All homes have 48’ of continuous, unobstructed walls of glass facing Bayshore Boulevard, designer kitchens with Gaggenau appliances, large terraces, and range in price from $2.3 million to over $5 million with the developer offering homebuyers unparalleled customization in each condominium.
Robert Glaser, CEO of Smith & Associates Real Estate, the exclusive listing agency for the tower, believes that buyers are looking for spacious and unique living spaces with locations that accommodate an active lifestyle. "The buyer demand for larger residences in the luxury market is strong. Featuring several homes over 4,000 square feet and designer sourced materials, The Sanctuary raised the bar for luxury living and demonstrated that Tampa was ready for the ultimate in high-end living.”
The market activity is indicative of the maturing needs of the buyers in the Tampa Bay area. Just last month, the Smith Developer Services team announced the Virage Bayshore sold all seventy-four of its luxury condominium residences and the groundbreaking of new towers in the area, like Kolter’s Hyde Park House and Strategic Property Partner’s The Residences at the Tampa EDITION. Kolter's Hyde Park House broke ground with $50 million in presales. With the swift sales and strong demand, inventory in Tampa’s most exclusive areas will remain tight for new construction luxury towers.
“The sell-out of The Sanctuary is just one more indicator that Tampa Bay is attracting discerning buyers looking for gracious layouts and top-of-the-line offerings. Just as we are seeing with The Residences at the Tampa EDITION and Hyde Park House, when you pair condominiums that have sophisticated interior finishes with expansive living and terrace spaces, the homes are going to move quickly,” says Dave Traynor, Vice President Real Estate and Developer Services at Smith.