Buyer Pays $4.3 million cash for pre-construction house on Davis Islands in Tampa Bay's highest sale of 2019
Recently featured on The Tampa Bay Business Journal.
A buyer has paid more than $4 million cash for a pre-construction home on Davis Islands — and the builder of that home is planning to start another multimillion-dollar speculative house on the lot next door.
The home to be built at 116 Adalia Ave. (renderings above via Stridis Renderings) has sold for $4.34 million in a deal that closed 3/21/2019, said Jeff Shelton, a real estate agent with Hughes Shelton Realtors at Coldwell Banker Residential Real Estate in Tampa.
Shelton has the listing both for that home and the one under construction next door at 120 Adalia Ave. Madison Homes Inc. of Tampa is the builder of both homes.
The home at 116 Adalia Ave. was listed at $4.495 on Madison Homes' website. Madison paid $2.6 million for the property in early 2018 and demolished the existing home on the .32-acre waterfront lot.
The modern farmhouse will be 7,674 square feet with six bedrooms and seven and a half bathrooms. The lot overlooks a deepwater canal. The vision for this home was constructed using 3D renderings to help potential buyers envision how it would look and feel.
“Tampa has so much to offer, and this sale further demonstrates the desirability of our city with luxury buyers," Shelton said in a statement. "Coldwell Banker has recognized this trend and has been focusing its attention on the global luxury brand in the Tampa market just like they have done in other major luxury markets like Miami, New York City, Los Angeles and San Francisco.”
The sale is the highest residential sale of 2019 — so far — in Hillsborough County, topping the $3.25 million professional wrestler Chris Jericho and his wife paid for a home in Odessa.
Shelton declined to identify the buyer. A deed for the transaction has not yet been filed in Hillsborough County.
Madison Home's next bet on Davis Islands, next door at 120 Adalia Ave., is slated to begin construction soon, Shelton said. It will be a modern transitional, 6,577 square feet with five bedrooms and six and a half bathrooms. It is priced at $3.9 million.
Dustin Thomas, Owner of Madison Homes had this to say about the impact of the 3D Renderings from Stridis:
“Photorealistic 3D renderings provide our clients with an in-depth understanding of what a project will look and feel like in reality. It can be a great sales tool to enable a buyer to gain confidence in the overall design vision. Stridis really goes the extra mile with their attention to detail and unique artistic touch which helps bring our projects to life.”