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Business Observer Thursday, Aug. 26, 2021 4 months ago

New York realty company pays $26.7 million for apartment complex near university

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St. Moritz Apartments near the University of South Florida were sold to TG Realty in Brooklyn
by: Louis Llovio Commercial Real Estate Editor

TAMPA —A New York City real estate company has bought a 168-unit apartment complex north of the University of South Florida for $26.75 million.

The St. Moritz Apartments, which is made up of rental townhomes, sold to Shlomo Tajerstein, principal of TG Realty in Brooklyn.

Frank Carriera, of an executive vice president at the real estate agency CBRE, says in a press release announcing the sale that “the buyer will be executing on interior and exterior renovations, including refacing the buildings, new landscaping, signage and renovated amenities.”

The complex was built in 1984 and is on Heritage Club Drive, about a mile and a half from the USF campus. It is one of about five apartment complexes within a couple of miles each other. It was previously owned by Creative Realty Partners.

According to Hillsborough County property records it previously sold for $20.7 million in 2018.

CBRE represented both the buyer and seller.

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