Clearwater Waterfront Parcel Purchased for Record $24.75 Million
A 3+ acre waterfront parcel located at 805 S. Gulfview Boulevard in Clearwater, FL sold for $24.75 million last Wednesday (January 31, 2024). According to property records the sale is the most expensive vacant lot sale in Clearwater Beach.
The buyer, 805 Gulfview Owner LLC, has ties to two real estate firms known for luxury condo development. The firms are BH3 Management (Fort Lauderdale-based) and U.S. Development (New Jersey-based). The companies have partnered to develop condos on the site. The development will include two nine-story buildings with waterfront vistas in every direction, a resort style pool deck, and a 270' wide private beach. There will be 86 units that range from 2,000 to 5,500 SF and cost between $2 to $10 million each according to a news release.
BH3 Management co-founder Gregory Freedman released a statement saying "In many ways, our team is introducing an entirely new market segment in Clearwater Beach, which has been overlooked as a luxury market even as successful high-end projects come to life in neighboring communities."
The property was once home to waterfront restaurant Fisherman's Wharf, which had been established in 1963 by Dalip Tzekas and shut down in 1990. Several other businesses occupied the property in the years that followed but the building was eventually demolished in 2020 leaving the property vacant.
Sylvia Tzekas of the Tzekas family and Kelly Montgomery were the listing agents for the property. Sylvia said in a statement "Representing this listing is particularly meaningful for me, as the property has been a cherished part of my family's history. The sale not only marks a significant chapter in the evolution of this property but also exemplifies our commitment to preserving its legacy."
U.S. Development is set to begin pre-development site work and launch sales later this year. CEO John Farina released a statement saying "Tampa Bay is one of the fastest growing regions in the country and Clearwater Beach is consistently ranked among the best beaches in the U.S., which is why we've had our sights set on this property for years."
Thank you for your interest. If you need Appraisal & Valuation Services in Clearwater contact:
Mike Cliggitt, MAI, MRICS, CCIM
Clearwater Appraisal & Valuation Services
Source: Tampa Bay Times
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