Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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Analyst
813.675.0465
wade.sarchet@berkadia.com
WADE SARCHET
Analyst
813.675.0464
dylan.jones@berkadia.com
DYLAN Jones
Director
321.319.1415
tyler.swidler@berkadia.com
TYLER SWIDLER
Managing Director
786.646.2590
chris.apone@berkadia.com
CHRIS APONE
Senior Managing Director
305.267.6608
charles.foschini@berkadia.com
CHARLES FOSCHINI
Managing Director
321.319.1414
brett.moss@berkadia.com
BRETT MOSS
Senior Managing Director
813.217.3419
matt.mitchell@berkadia.com
MATT MITCHELL
Director
321.446.4789
chris.burtner@berkadia.com
CHRIS BURTNER
INVESTMENT SALES
Mortgage Banking
Senior Director
Benjamin.Harris@berkadia.com
310.209.3236
BENJAMIN HARRIS
Managing Director
Allan.Freedman@berkadia.com
310.209.3243
Allan Freedman
Associate Director
Nick.Provost@berkadia.com
310.209.3227
Nick Provost
MORTGAGE BANKING
Contact Info
4890 West Kennedy Boulevard
Suite 940
Tampa, FL 33609
Tampa Office:
LOCATION
4465 W Gandy Blvd, Tampa, FL 33611
Address
A-05-30-18-3X1-000000-F0000.0
A-05-30-18-3X1-000000-G0000.0
Tax ID
Hillsborough
County
Tampa, Florida
Municipality
6.86 Acres
Gross Acreage (Approx)
6.32 Acres
Usable Acreage (Approx)
Property Details
Southeast Hillsborough area is the fastest growing area in the Tampa Bay MSA and one of the fastest growing regions in the U.S. Over the next 5 years, Southeast Hillsborough expects to gain 76,000 (11.95% increase) new residents, accounting for nearly half of the population growth expected across the entire Tampa Bay MSA. In response to this growth, homebuilders have been adding thousands of new homes and Hillsborough County plans to add 9 new public schools within the submarket (including one just blocks away from the Subject Site). While growth has been robust, multifamily development has not kept up. Only 2,956 units have delivered since 2021, while another 2,820 units are currently under construction (AxioMetrics).
BOOMING SOUTH BAY AREA:
04
Residents enjoy convenient access to major employment nodes, with downtown Tampa and the Brandon office markets 15 to 25 minutes away. Employment in the immediate area also include Port Tampa Bay (85,000 direct and indirect jobs), the newly delivered St. Joseph's Hospital South, and Amazon's one million square foot distribution center just south of the Site.
EASY ACCESS TO GROWING JOB CENTERS:
03
Over the next five years, Southeast Hillsborough will account for 50% of Tampa Bay’s population growth. With only 6,024 new rental units slated for delivery in Southeast Hillsborough, this submarket has one of the most favorable supply-to-growth ratios (one unit to every 12.6 people) in the state. Additionally, Waterset itself has built-in supply constraints with only 750 units of entitlements remaining. Also notable, the projected five-year average household income will increase to $110K compared to the $93K average today, suggesting the population growth will be comprised of a wealthier demographic that will find themselves in an area with limited Class A supply. Due to this imbalance of supply and demand, YardiMatrix is projecting positive rent growth above 3.0% in 2024 and 2025 along with elevated occupancies well over 95.0% for the same time period
Favorable Supply & Demand Fundamentals:
02
Unprecedented scale in the heart of Sarasota’s urban core, offering a rare opportunity to acquire a large-scale, ultra-core development site in one of Florida’s most affluent markets
Flexible as-of-right zoning allowing for a variety of business plans, including luxury condos, multifamily apartments, retail, hotel and mixed-uses
Ability to unlock additional value by utilizing the State of Florida’s Live Local Act, permitting up to 18 stories of building height and further-unlocking coveted water views of Sarasota Bay
Highly walkable urban setting that provides immediate access to Downtown Sarasota’s Main Street, hosting a variety of restaurants and lifestyle retail amenities catering to an affluent clientele
Situated in the midst of a proven ultra-luxury residential market with condo projects achieving up to $1,700 PSF in Downtown and $2,000+ PSF on the Gulf of Mexico
Flexible deal structure - Fifteen20 is being offered on a fee simple basis or as a land equity contribution to a new joint venture to develop the Property
Investment Highlights
Berkadia, as exclusive advisor, is pleased to present Fifteen20 (the “Property” or “Site”), a premier 3.33-acre condominium, multifamily and mixed-use development site situated in the heart of Downtown Sarasota, FL. Renowned for its coastal elegance, urban sophistication, and proven ultra-luxury housing market with waterfront branded residences selling for more than $2,000 per square foot and new apartment communities achieving $4,000+ rents, Sarasota is one of Florida’s most desirable and rapidly growing luxury residential destinations.
Fifteen20 represents a rare and compelling condominium, multifamily and mixed-use development opportunity of unique scale, totaling 3.33 acres and offering unmatched views of Sarasota Bay paired with exceptional walkability to a diverse array of retail, dining, and entertainment options along Downtown Sarasota’s Main Street, only two blocks from the Property.
The Property features flexible Downtown Core (DTC) zoning, which allows for a variety of uses, up to 200 units per acre via the City of Sarasota’s bonus density program and 10 stories of base height. Additional building height can be achieved via bonus provisions in the city’s land development code or by utilizing the State of Florida’s Live Local Act, which would allow for 18 stories of building height by right, unlocking spectacular bay views to the west of the Property and along Ringling Boulevard.
The Opportunity
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1122 G Street, San Diego, CA 92101
1122
G STREET
3.33-Acre Condo, Multifamily & Mixed-Use Development Site with Water Views and Unmatched Walkability in Highly-Affluent Downtown Sarasota, FL
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Investment Highlights
The Opportunity
The Opportunity
Investment Highlights
Document Center
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1520 Ringling Blvd. | Sarasota, FL 34236
Easy Pathway to Approvals:
The Site is located between Kennedy Blvd and Gandy Blvd, the boundaries that have long defined the exclusive enclave of South Tampa. Within these boundaries, sites for development area exceedingly rare.
Exclusive South Tampa Location:
Downtown Tampa, Westshore Office Market, and Gateway Office Market are all within 15 minutes of the Property and are home to over 380,000 jobs.
Conveniently & Centrally Located to Tampa Bay’s Top 3 Office Markets:
Infill submarket with lack of vacant land, geographic land constraints, and affluent demographics.
High Barriers-to-Entry:
Strategically positioned close to Tampa Bay’s most popular recreational, entertainment, shopping, and dining destinations.
Exciting Lifestyle Drivers:
Net migration patterns continue to drive market fundamentals.
Strong Growth Market:
Commercial Intensive (CI), which allows a wide range of uses at a 3.25 FAR. Multifamily mixed-use requires height restriction of 45 feet. See Official City of Tampa Zoning District Regulations in the Document Center for further information.
*Live Local Act allows for height variances to the highest building in 1 a mile radius, which is 190 feet. It also allows for administrative approval of multifamily on any commercially zoned property.
Zoning
Previous improvements have been demolished and excavated with impervious areas removed. Site has been left at base grade. Existing elevations range from 7.0-8.5. New building pads finish floor elevations need to be at elevation 12.0 minimum.
Site Conditions
Hillsborough County
Due Diligence Documents
Please find the following materials available in the Document Center:
Phase 1, Geotechnical, P&CR, Boundary Review, Title, Conceptual Site Plan, Easement Agreement
3.33 Acres
Large-Scale Development Site in Downtown Setting
18 Stories
Maximum Height With Live Local Bonus
542 Units
Maximum Residential Density With City of Sarasota Bonus
Downtown Core Zoning
Flexible Zoning Allowing for a Variety of Business Plans
Unprecedented scale in the heart of Sarasota’s urban core, offering a rare opportunity to acquire a large-scale, ultra-core development site in one of Florida’s most affluent markets
Flexible as-of-right zoning allowing for a variety of business plans, including luxury condos, multifamily apartments, retail, hotel and mixed-uses
Ability to unlock additional value by utilizing the State of Florida’s Live Local Act, permitting up to 18 stories of building height and further-unlocking coveted water views of Sarasota Bay
Highly walkable urban setting that provides immediate access to Downtown Sarasota’s Main Street, hosting a variety of restaurants and lifestyle retail amenities catering to an affluent clientele
Situated in the midst of a proven ultra-luxury residential market with condo projects achieving up to $1,700 PSF in Downtown and $2,000+ PSF on the Gulf of Mexico
Flexible deal structure - Fifteen20 is being offered on a fee simple basis or as a land equity contribution to a new joint venture to develop the Property
Analyst
512.960.2637
scott.marker@berkadia.com
SCOTT MARKER
Analyst
786.310.3702
luke.maganas@berkadia.com
LUKE MAGANAS
Associate Director
786.646.2579
shannon.wilson@berkadia.com
sHANNON WILSON
Visit Doc Center
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
