A weekly roundup of local real estate deals.
Mallah buys waterfront resort
The Treasure Bay Resort and Marine Club has sold for over $10.88 million.
Treasure Bay Resort and Marine Club. GoogleMaps.
Sunset Bay Properties LLC sold the 83-room resort at 11125 Gulf Blvd. in Treasure Island to an LLC connected to Largo-based Equity Management Partners, which is headed by business mogul Ben Mallah.
The property management company has a diverse portfolio of income properties ranging from offices to hotels, restaurants and residential communities.
Mallah said he was interested in the site due to its location.
The Hemingway-inspired rooms in the hotel all have balconies overlooking Boca Ciega Bay. The waterfront resort also features a pool and an outdoor bar.
Vacant lots near Clearwater Beach fetch $7.9 million sale
Two vacant commercial lots divided by Royal Way and Mandalay Avenue have sold for $7.9 million.
Vacant commercial lots divided by Royal Way and Mandalay Avenue. GoogleMaps.
The Bayway Florida Hotel LLC property was sold to an LLC tied to real estate developer Casto, which has a Sarasota office.
One of the lots is adjacent to The Shipwreck bar, while the other is adjacent to McKay Park.
The buyer took out a $3.95 million mortgage loan from Valley National Bank.
Philanthropists sell Clearwater penthouse
A penthouse owned by Anthony Scarpo, the owner of Anthony Louis Ltd., a diamond import company, and his wife Barbara, a managing partner of First Trust Funding Group LLC, has sold for $5 million.
The 22nd-floor corner penthouse is in The Grand on Sand Key condo complex, located at 1180 Gulf Blvd.
The 5,510-square-foot, three-bedroom home boasts two wrapping balconies with panoramic views of the Gulf, according to the listing.
The interior is outfitted with solid wood doors and wood and marble flooring throughout.
The fully furnished penthouse also includes a two-car garage and a private elevator.
Ralph Harvey, CEO of List With Freedom, was the listing agent.
Pattie Meek with Coastal Properties Group International represented the buyers.
It last sold in 2016 for $2.8 million.
Tesla center nears full completion
The new 102,410-square-foot center for Tesla Motors in Lealman is nearly complete as workers can be seen finishing the final touches.
Tesla’s delivery and repair center at 4601 34th St. N., St. Petersburg. Photo by Veronica Brezina.
Developer Rob Truett, principal at the Delay Beach-based Truett Realty Group, is behind the project at 4601 34th St. N to transform the former Kane’s Furniture liquidation center into a state-of-the-art delivery and repair center for Tesla.
Truett shared new photos of the center this week on LinkedIn.
Tesla’s store locations are referred to as centers rather than standard dealerships due to Tesla’s direct sales model – directly selling the vehicles to customers without the use of an independent dealer – which strays from the traditional big auto business model.
Farming property sold to Lennar Homes
Foxwood Farm, a former competitive hunter and jumper equestrian center in Pinellas Park that recently sold, is now owned by homebuilder Lennar Homes.
The property at 9595 66th St. was sold last year for $2 million to Foxwood Pinellas LLC, which is tied to the Chalfin Group, a New Jersey-based consulting firm.
Foxwood Farm. GoogleMaps.
The Chaflin Group has sold the site to Lennar Homes for $2.4 million.
An administrator with the farm previously said the structures will be removed and townhouses will rise in its place.
