**This listing encompasses two adjacent DC-2 zoned lots, 1720 and 1726 2nd Ave N, with the listing price representing both lots' combined value. **. Presenting a remarkable development opportunity in the heart of St. Petersburg, just two blocks north of Central Ave — a vibrant and rapidly evolving part of the city. Spanning a generous 12, 700 square feet total, 100 x 127 ft in dimension, this prime location offers a wealth of potential given the immediate proximity to the Edge District, Grand Central, and the soon-to-be redeveloped Tropicana Field. The DC-2 zoning allows endless opportunities for mixed-use or residential development. Imagine crafting a mid-rise complex featuring luxurious apartments, chic condos, or a townhouse community with rooftop decks; all are viable options given the DC-2 zoning. With conceptual designs in hand by local architect Behar + Peteranecz, the plans illustrate two buildable options that conform with zoning. These forward-thinking designs include spacious 3-story homes, each with a roof deck perfect for capturing panoramic city views and over 1, 900 sqft of living space alongside convenient ground-level garages. Or, should you choose to pursue larger developments, the plans illustrate a 32-unit apartment/condo complex with the potential to increase the unit count to 54 units by going through the bonus approval process. Nestled on a serene, tree-lined brick street, yet a brisk walk from Central Avenue's array of boutique shops, restaurants, and bars, the site relishes a quieter setting paired with the allure of city living. This development opportunity is not just a property but the promise of a future landmark contributing to the dynamism of Downtown St. Petersburg. Explore the endless possibilities of a location where development dreams have the potential to become a reality. Renderings based on conceptual designs, not permitted plans.
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,800,000 | $1,800,000 | $1,800,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.750% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.321% | 6.826% | 6.936% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,675 | $11,675 | $15,928 |
Total Monthly Payment | $11,800 | $11,800 | $16,053 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.