DDA Development buys Salvador development site

BUYER: DDA-Salvador LLC, Tampa
SELLER: Algirdas and Livia Bobelis, Second & Five LLC, Bokada LLC, Ira Innovations LLC, FBO Bintaras Degesys IRA and Algirdas Bobelis as trustee of the Bobelis Family Land Trust dated 1/2/1997
PROPERTY: 143 and 155 Fifth Ave. S., 440 Second St. S. and 136 Delmar Terrace S., St. Petersburg
PRICE: $3.9 million
PREVIOUS PRICE: $612,500, February 2008; $600,000, September 2005; $520,000, September 2004; and $100,000, January 2001
LAW FIRM ON DEED: Sanders Law Group PA, St. Petersburg

PLANS, DESCRIPTION:
DDA Development purchased nearly an acre of land west of The Dali Museum and the Mahaffey Theater in downtown St. Petersburg for $3.9 million.

The four-parcel block features a mixture of '60s- and '70s-era apartment buildings with roughly 30 units. DDA Development plans to demolish the three buildings with the goal of starting development in March or April on The Salvador, a new 13-story condominium project.