First quarter sales at St. Pete condo tower hit $50 million on strength of penthouses

Sale at the Residences at 400 Central, one of the largest residential towers under construction along the Gulf Coast, are booming, developers say, pointing to three penthouses selling in the past 30 days for a total of $15 million as an example.

In all, the building has contracted more than $50 million in sales during the first quarter of this year, including a fourth penthouse.

John Catsimatidis, founder of Red Apple Real Estate, the building’s developer, says in a statement that the sale volume “shows the extraordinary demand for residences at the upper end of luxury living."