http://www.signaturestpete.com/ Signature Building, 175 1st St. S. downtown St Pete The Signature Building combines a magnificent...
http://www.signaturestpete.com/
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| Signature Building, 175 1st St. S. downtown St Pete |
The Signature Building combines a magnificent sophisticated design by famed architect Ralph Johnson with remarkable city and bay views. At 36 stories, it is one of the more luxurious high rise residential buildings in downtown St Petersburg. There are 244 condominiums and 345 parking spaces in its garage. It was completed in 2008. Some critics have described the building's unique slim design as a "gossamer sail." The waterfall on one side of the building provides another unique external aspect.
Its beautiful modern amenities include an elegant modern lobby area to welcome you and guests, 2 well appointed rooms that can be used by residents for good sized gatherings, a state-of-the-art fitness center, and a spectacular 6th floor roof top terrace on one side that includes a large outdoor heated swimming pool and sundeck. There are special bicycle storage areas for residents, many of whom cycle around downtown St. Pete. Each condominium has one or two parking spaces in the Signature's parking garage with direct elevator access to the rest of the building.
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| Lobby of The Signature Building |
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| The Signature's 6th floor outdoor sundeck and pool |
There is a surprisingly young and active vibe that one picks up hanging around the Signature Building. Although it is an all age community, the many young adult residents (late 20's and 30's) may seem surprising considering the cost. It's possible that some of the earlier residents or perhaps their parents picked up their units at bargain prices during the great recession. The younger residents are typical of urban professionals you now find living and playing in the heart of many major American cities. Some have well paying tech jobs to which they usually telecommute. I met one resident there in his 20's resident who telecommuted from his residence, and only three or four times a year travels to his company headquarters in far-off Silicon Valley. A condo I listed in the Signature several years ago sold to a 21 year old professional athlete, a rookie Rays player who has now moved on to another team. Others are "trust fund babies" who obviously can afford to live there.
What are condominiums at the Signature selling for? Prices of units actually sold during the first half of 2016 ranged from $525,000 for a 2 bedroom, 2 bath unit of 1370 square feet on the third floor to a 2 bedroom 2 1/2 bath unit of 1996 square feet on a higher floor with a better view. The median per square foot sold price during this period was $429. Incidentally, a unique "glass house" 4177 square foot penthouse at the Signature last sold in February 2015 for $1,950,000. Monthly HOA fees range from currently from $531 a month for the smallest one bedroom condo to about $2500 a month for the penthouse.
Compared to other luxury downtown buildings, sales at the Signature have taken longer in the last few years due to battles about construction defects between the HOA and the original builder. To fix these defects, a special assessment (payable over as much as 10 years) totaling $8.7 million dollars was instituted against the 244 condominiums. Prospective buyers need carefully to check the particular assessment status of the unit they are purchasing in the Signature.
My blog primarily focuses primarily on less expensive condominium and town home communities. I will simply list a few other downtown St Pete condominium developments that have been recently or are being currently built.
- The Salvador: 199 Dali Blvd....starting in the 400k range.
- The Sage; 400 4th St S., starting in the 300k range.
- One St. Petersburg: 1st Ave. & 1st St. N., $500k-$4 million
- Regent Lane: 145 4th St. S., starting in the $800k range.
