About Saint Petersburg's Signature Place

Following up on the Signature Place auction 2 weeks ago, including the condos sold at the auction, there are now 92 condo units at Signature Place that are under contract or already sold during the last 2 weeks. In addition to 102 units sold before the closing, that's 194 units out of 244 or 79.5%. I'd say that the Signature Place condo auction was a successful auction!

The remaining units are only being shown by appointment and appointments are filled up days in advance.

The auction at Signature Place has been creating buzz in downtown St Pete for the last few weeks. Today was it - the auction. As we expected, all 41 sold, as well as 10 additional ones they put up for bid. Also as we expected, all of them sold above the minimum bids.So - 51 times this afternoon we heard GOING ONCE, GOING TWICE .... SOLD!

It was interesting to watch the bidders - some people would bid each time to their limit and stop; some were coaxed a bit higher. Some had two determined bidders going back and forth. Yes, it was an exciting place to be.

Sale prices ranged from $174,000 to $742,000.

We've posted more details on the Signature Place condo auction in downtown St Petersburg ...

Signature Place has added six more condo units to the 35 condos that they have advertised and that are on their website. The auction is still scheduled for 1 pm on Sunday, March 7th - you MUST be preregistered to attend the auction, bring a photo ID, a Cashier's Check for $7,500 and a blank personal check, which you'll make out for the difference between 10% of your successful bid and the $7,500.

Minimum bids on the additional units are in line with those of the previously offered units and range from $215,000 to $405,000, which represent discounts from the original prices of up to 71%. No units at the $135,000 minimum bids were added to the group.

The Simms Team is over at Signature Place several times a week and sometimes, several times a day. Thus we stay current on what's happening.

We have photos of over 30 of the units being auctioned, showing not only the view from the unit, but whether and how the floors are finished, which finishes are on the cabinetry, etc.

Once again, if you want to keep your right to be represented by a real estate agent (at no cost to you since the Seller pays the commission) your agent must accompany you when you first visit Signature Place (your first visit AFTER the auction announcement). Subsequent visits can be with or without your agent.

Note - any agent/broker registrations made prior to the announcement of the auction are null and void. The auction "starts a new game".

Signature Place condos in downtown St Petersburg just announced that 35 condos will be auctioned on March 7, 2010. This is an absolute auction, with minimum bids ranging from $135,000 for an 859 sq ft 1 bedroom 1.5 bath condo (list price wss $291,000-$336,750) to $430,000 for a 2,403 sq ft 3 bedroom plus den 3 bath unit (list price was $918,750). The minimum bids have discounts ranging from 49% to 64%.

Signature Place is an architecturally significant highrise that was completed last year and began sales in June 2009. Approximately 40% of the 244 residential condo units have sold.

To insure that they retain the right to buyer representation, anyone visiting the sales/auction office onsite to preview the units should bring their agent with them on their first visit to the property.

We attended a VIP reception this week at Signature Place, the architecturally striking new condo in downtown St. Petersburg. This was a chance for a couple of hundred people to view the furnished models, and check out the common areas, enjoying food stations scattered throughout.It started with flutes of champagne in the elevator.

When we went outside into the 6th floor Sky Garden, we were impressed at the staging here at the end. The artificial turf never needs mowing or watering and you won't be bothered by noisy lawnmowers. We thought it was nice to stage this picnic.

After the music started and we were enjoying samples from Mise en Place, we looked over and saw that the staging had even included models! The people hitting golf balls on the putting green were obviously guests at the reception, but these two sunbathers certainly looked like staging!

Signature Place will start closing on sales later this month.