St Pete Beach Home Sells for $7M, Florida Luxury Heat
St Pete Beach $7.5M Sale: The Key Facts
Two numbers have dominated the Pass-a-Grille sale record since October.
Sale Figures Under Scrutiny
The home closed October 24, 2024, with some records citing October 23.
A pricing breakdown shows $7,525,727 sold and $7.53M listed.
An $8M alternative report was also noted.
Stellar MLS via MLS Grid identifies MLS TB8314363 and $1,520 per square foot.
Property Profile and Market Context
The single-family residence is 4,950 square feet with 5 bedrooms, 5 full baths, and 1 half bath.
It was built in 1935 on an 8,233 square foot lot in Pass-a-Grille.
Across Pinellas County, modern waterfront homes built to flood standards continue to draw strong demand, helping support premium pricing even as costs rise.
The 2025 tax bill jumped to $64,550 on an assessed value of $4,106,948.
Listing excerpts did not detail renovation history.
Redfin estimated $5,722,596, within a $5.44M to $6.58M range.
That estimate equates to $1,156 per square foot.
Nearby comps included $749,000 for 1,869 square feet and $6,250,000 for 3,186 square feet.
Who Bought 1103 Gulf Way: and What It Includes
After competing sale figures and timing disputes shaped early coverage of the Pass-a-Grille record, attention has shifted to the buyer and the asset acquired at 1103 Gulf Way.
Buyer identity was not detailed in the summary, leaving the buyer profile limited to price paid and the type selected.
Florida’s broader luxury demand is being reinforced by domestic migration trends that have drawn tens of thousands of Californians to the state for tax and cost considerations.
Buyer and Included Amenities
The October 23-24 closing at $7,525,727 secured a renovated 1935 Mediterranean with a two-story layout.
It includes 5 bedrooms, 5.5 bathrooms, and 4,950 square feet.
A rear garage is included.
A split plan places the primary suite upstairs.
The home is supported by smart-home controls and a smart security system.
| Feature | What is included |
|---|---|
| Kitchen | Wood cabinets, stone counters |
| Entertaining | Wet bar, dry bar, outdoor grill |
| Outdoors | Heated saltwater pool, courtyard, shower |
Pass-a-Grille Beach Location and Gulf Views
A narrow strip at the southernmost tip of the St. Pete Beach barrier island defines Pass-a-Grille in Pinellas County.
Access comes via Pinellas Bayway off I-275 near the Sunshine Skyway Bridge, roughly 20 minutes from Downtown St. Petersburg.
Gulf-View Exposure
Surrounded by water on three sides, the district reads as an older barrier-island enclave with no condo towers.
Wide, powdery sand and clear emerald Gulf water create a shallow, swim-friendly shoreline with light waves and sunset-facing orientation.
Dunes, sea oats, and sea grapes frame protected vistas, making Dune Preservation central to long-term value.
Minimal beachfront buildings keep horizons open for daily sunsets and Sunset Photography from jetty benches and dune walkovers.
Visual Markers
- Rock jetty benches
- Dune walkovers
- Unobstructed Gulf line
Hurricanes Helene/Milton: Why the Deal Closed Anyway
Although Hurricane Helene pushed storm surge to record levels across Tampa Bay, it also flooded established neighborhoods with 4 feet of water or more.
Even so, the Pass-a-Grille transaction still cleared its final hurdles.
Closing Under Disruption
Barrier island access remained restricted after Helene.
Inspections, appraisals, and funding still moved forward using documented condition and contractor estimates.
Insurance and Resilience Terms
Insurance strategies centered on binding coverage, confirming flood zones, and budgeting for higher premiums.
Flood mitigation planning incorporated Tampa Bay storm surge at 7.18 feet and high water reports.
Why Buyers Stayed Committed
Luxury demand persisted despite disaster events within 13 months and outages affecting 1.69 million customers.
The deal structure accounted for repair timelines and underwriting uncertainty as storms such as Milton kept risk in focus.
Other $7M+ Sales Near St Pete Beach (and Current Listings)
Several recent $7 million-plus closings across Tampa Bay show luxury demand holding, even as storm risk remains elevated.
Pass-a-Grille’s 1103 Gulf Way sold for $7.5 million with Gulf views and beach access.
Disruptive $7M Benchmarks Nearby
Buyers Mitchell and Dorrie Eviston purchased from Christopher and Tamara Morrison.
The Morrisons paid $1.13 million in 2005.
The Pass-a-Grille home measured 4,950 square feet.
It had five bedrooms and six baths total.
- Pass-a-Grille: $7.5M beachfront house.
- Saltaire: four penthouses $7.28M to $7.7M downtown.
- Tampa: $15M Lyford Cay, $12.8M 72 Adalia.
Active Listings and Penthouses Comparison
Saltaire’s 192-unit tower is sold out.
That sharpens the Penthouses Comparison between downtown condos and barrier-island homes.
Current active listings above $7 million remain limited.
They’re also sensitive to insurance and inspection terms.
Assessment
Even after Hurricanes Helene and Milton, a seven million-plus closing in Pass-a-Grille signaled durable demand.
The 1103 Gulf Way buyer secured Gulf-front positioning and high-end amenities amid constrained inventory.
Risk pricing remained visible in insurance, elevation, and storm hardening expectations across St Pete Beach.
Comparable seven million-dollar sales and active listings showed buyers still competing for scarce waterfront lots.
The transaction underscored that disruption is reshaping negotiations, not stopping Florida’s luxury market for now statewide.
https://www.unitedstatesrealestateinvestor.com/st-pete-beach-home-sells-for-7m-florida-luxury-heat/?fsp_sid=32344
Comments
Post a Comment