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House Sale Sets Pinellas Price Record: $10.25 million

News Channel 8 photo by PETER MASA

This luxury home sold last week, setting a new record in Pinellas County: $10.25 million. The old record was $7.8 million from 2001.

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By CARLOS MONCADA | The Tampa Tribune

Published: June 3, 2008

ST. PETERSBURG - A luxury home sale last week set a price record in Pinellas county's housing market: $10.25 million.

Clearwater yacht broker William McGill sold the nearly 13,000-square-foot French-English country mansion in Belleair Bluffs to James and Jill St. Louis, according to a copy of the deed, recorded May 27. James St. Louis is chief surgeon of the Laser Spine Institute in Tampa.

The sale breaks the $7.8 million record of another Belleair Bluffs property that has stood since 2001, according to the selling agent.

Agent Frank Malowany of Smith & Associates Real Estate in St. Petersburg said the house, which was listed for $16 million, has been on the market with other Realtors for two to three years.

"I didn't set the price," Malowany said. "I just made the sale."

The record in Hillsborough County is $5.55 million, set in 2006 with the bankruptcy sale of former Wall Street tycoon Paul Bilzerian's 28,000-square-foot mansion in Tampa's Avila golf community.

Malowany said that despite the record price, the purchase was great value.

The home, which McGill built in 2001, has a steel frame. It sits on a bluff of nearly 2 acres overlooking the Intracoastal Waterway and features five bedroom suites, eight bathrooms, a resortlike lagoon swimming pool and cascading gardens and landscaping.

"I don't think you can duplicate the home for the money it was purchased at," Malowany said. "I think that should be a criterion for a lot of homes, but some people seem to miss that boat."

Reporter Carlos Moncada can be reached at (727) 451-2333 or cmoncada@tampatrib.com.

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