Grand Re-Opening of 26-Story, Two-Year-Old High-Rise Condominium Homes Set for July 30 Offering Residences at up to 50% Off Original Purchase Price
CLEARWATER, FL July 1, 2010—Water’s Edge, a 26-story luxury condominium tower on a waterfront bluff overlooking Clearwater Harbor, has been acquired from Waters Edge Clearwater, LLC and REDUS Clearwater Bluff, LLC by a Concierge Asset Management affiliate. The sale price was not disclosed.
The 153-residential unit high-rise located at 331 Cleveland St. has 124 homes with Clearwater Harbor and Intercoastal Waterway views and 19 poolside residences with private pool deck patios. Seven floor plans range from one to three bedrooms; the homes average 1,981 square feet in size. Ten residences were previously sold and are occupied.
“We consider this the finest luxury condominium high-rise in the Tampa Bay area. It was carefully designed from the inside out to provide every home in the tower with unrivaled water views,” said Ted Kerr, president and chief executive officer of Houston-based Concierge. The average size residence is larger than many single family homes in the region, he added.
Grant Wood, president of Stingray Asset Management LLC of Clearwater, has been engaged as asset manager of Water’s Edge and will oversee sales and marketing for Concierge. He has worked on the project since its inception. “To re-introduce this exceptional condominium community, we’re holding a grand re-opening on July 30th , offering Water’s Edge residences at up to 50% below the original pre-construction sales prices. This is a generational opportunity for people who want a primary residence or a second home with spectacular views at an amazing value,” said Wood.
Wood further added Water’s Edge offers homeowners a variety of luxurious amenities similar to a resort hotel. There is a pool, spa, fireplace and a state-of-the-art fitness center. Social rooms include billiards, a bar/lounge, private dining room with catering kitchen and a business center with personal computers and wireless Internet access. In addition, Concierge is already augmenting these resort-quality appointments.
The building has a secured five-story parking garage with most residences having two parking spaces and an air-conditioned storage unit.
Concierge feels the supply-demand for luxury condominiums in Clearwater is in its favor, one factor that drove its decision to acquire the residential high-rise.
Robert P. Glaser, president of Smith & Associates Real Estate in Clearwater, which is handling residential sales for Water’s Edge, considers this “the last opportunity to buy a luxurious residence in a newly constructed condominium tower in Clearwater for at least the next several years.” He contends the public believes the architecturally distinctive building “will play a major role in the visionary city’s continuing revitalization.
“There has been a stronger buyer demand for this high-rise than any other residential building in the Tampa Bay market,” said Glaser.
Kerr said a major appeal to Concierge is the “prime location” of Water’s Edge. The location has attractive park-like green spaces and has immediate access to an adjacent 126-slip municipal marina and tennis courts out its back door. Plus, it is within one mile of Clearwater Beach “while still offering residents a lifestyle of privacy and recreation away from the high traffic and weekend tourism.”
Summed up by Concierge founder and Chairman Maxwell Drever: “We’re pleased to be part of the exciting future of the city of Clearwater. In acquiring and re-opening Water’s Edge, we feel this is a true ‘win-win’ for both the buyer and seller.”
ABOUT CONCIERGE ASSET MANAGEMENT
Concierge Asset Management, headquartered in Houston, TX, is a value-added, vertically integrated real estate investment company. Together with its institutional partners, Concierge acquires, repositions and manages large luxury condominium communities and apartment communities. Concierge is often “buyer of choice” for lenders/ sellers of challenged non-performing loans (NPLs) or foreclosed properties due to its expertise in providing both pre- and post-closing cost-effective solutions for problems in their portfolios of multi-family and other types of investment properties. Concierge’s founder-chairman, Maxwell Drever, president and chief executive officer Ted Kerr and their teammates, many with decades of service with Concierge, are also recognized for their social and environmentally conscious property and community transformations. Currently, Concierge is investing nationwide in properties and/or their NPLs.
For more information about Concierge Asset Management and Water’s Edge Condominiums, please visit www.conciergeassetmanagement.com or www.clearwatersedge.com.
