Bank of America has taken back 75 of 112 condos in The Sage condominium project located in downtown St. Petersburg, Fla. Developed by Atlanta-based Miles Development Partners and built by Batson-Cook, the property is currently listed with Cushman & Wakefield of Florida’s Apartment Brokerage team, led by Bryon Moger.
Located at 400 4th Avenue South in downtown St. Pete, the asking price has been set at $10.5 million, or $140,000 per unit. According to the listing description on the bank’s website, the property consists of “two north facing towers that have four and five levels each and a twelve level tower situated immediately south of the two smaller towers. The towers are connected and share interior walkways. The structure is masonry and metal and the exterior walls are stucco. There are 17 different floor plans and the unit mix consists of one and two bedroom condominium units ranging in size from 869 square feet to 1,493 square feet. Each unit has an open floor plan that includes a kitchen, dining room and living space. Each unit has ten foot ceilings, floor to ceiling windows that are hurricane resistant, a private balcony and hardwood floors. The amenities include a fifth floor rooftop swimming pool, a fitness center, controlled access parking, a clubroom with a bar, a media lounge and a sundeck with a grilling area.
[...] to this report, CRE Console’s REO Monitor posted that Bank of America had foreclosed on t remaining 75 of 112 units in the Sage Condominiums in [...]