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Converted condos start at $89,900

Most of the 196 units on St. Petersburg's north side have been sold.

By SHARON L. BOND
Published February 8, 2006


ST. PETERSBURG - Another apartment complex has switched to condominiums, offering some one-bedroom units for less than $100,000.

Glenbrook Apartments, at 9100 Dr. Martin Luther King Jr. St. N, now is Enclave @ St. Petersburg. All of its 196 units are being converted to condos. Cypress Developments LLC is doing the conversion, said George Papachristu, sales manager for the project.

He said the conversion started about two months ago and that 166 of the units are under contract.

"The majority of the buyers will be primary residents and some are second-home buyers," Papachristu said. Some tenants have purchased units, as have some investors.

Prices range from $89,900 to $179,000 and are based on size. The complex has one-, two- and three-bedroom units.

"The two- and three-bedroom units will have extensive upgrades, including new stainless steel appliances, new cabinets and new bathroom sinks," Papachristu said. That is in addition to new carpet, tile and painting the one-bedroom units get.

Converting apartments to condos has been going on for years in St. Petersburg. Two were announced recently: Echelon at Bay Isle Key, 11850 Dr. Martin Luther King Jr. St. N, and Sabal Pointe apartments, 2148 54th Ave. S.

Echelon now is Bay Isle Key Condominium and will convert about 70 percent of its 582 units. Prices there range from the mid $100,000s for one-bedroom units to the mid $300,000s for three-bedroom units.

Sabal Pointe is now the Enclave at Sabal Pointe. It has 240 units that will range from $109,000 for one bedroom to $219,000 for three bedrooms. Last year, the 1,006-unit Coquina Key Arms complex at 5000 Coquina Key Dr. SE was converted to 912 condominiums. When sales began, prices ranged from $125,600 to $603,700. Many units in the renamed Waterside at Coquina Key have water views.

[Last modified February 8, 2006, 01:15:22]


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