Miami Developers LD&D And Black Salmon Acquire 0.77-Acre Development Site In St. Petersburg For $9.05M

Miami developers LD&D and Black Salmon have purchased a 0.77-acre development site located at 155 17th Street South in St. Petersburg for $9.05 million. The buyers plan to construct a luxury apartment tower called Gallery Haus on the site, with an estimated cost of $115 million. The tower will be 23 stories high and will consist of 251 units. The development will feature various amenities, including coworking space and ground-floor retail. The location of the tower is strategic, as it is near the planned $6 billion multiuse redevelopment of the Historic Gas Plant District by the Tampa Bay Rays and Hines.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $9,050,000
• Date: 01/03/2024
• Address: 155 17th Street South
• Market: St. Petersburg
• Buyer: LD&D and Black Salmon
• Seller: John Stadler - Apogee Real Estate Partners
• Asset Type: Development Site
• ACRES: 0.77

The seller of the development site is John Stadler, represented by Apogee Real Estate Partners. LD&D and Black Salmon, the buyers, are Miami developers who are expanding their portfolio with the acquisition of this property.