General News

Catsimatidis Receives $252M Construction Loan for Tallest St. Pete Condo Tower

NEW YORK – Greek-American billionaire businessman and real estate developer John Catsimatidis “closed on a $252 million construction loan for The Residences at 400 Central, which is expected to mark the tallest tower on Florida’s Gulf Coast,” The Real Deal reported on January 6.

According to a press release, Catsimatidis’ New York-based Red Apple Real Estate secured the financing from Bank OZK, a Little Rock, Arkansas-based lender which has recently worked in South Florida and other areas in the state, in spite of the slowdown in lending due to the rise in interest rates and other economic concerns.

“It’s very difficult to get any kind of construction loan right now,” said Catsimatidis, The Read Deal reported, adding that construction of the tower in St. Petersburg, FL, is expected to begin by March and be completed in early 2025. Suffolk Construction has already installed the majority of the concrete piles for the foundation.

Designed by internationally renowned architectural firm, Arquitectonica, the Residences at 400 Central features spacious floorplans with high-end interior finishes, wrap around balconies, and magnificent views with 301 apartments, 35,000 square feet of facilities, retail and restaurants as well as more than 40,000 square feet of office space. Residential units will range from one- to four-bedroom apartments.

About a third of the apartments in the building have been pre-sold, Catsimatidis told The Real Deal. Prices start at $900,000, according to the project’s website.

The Greek-born and New York-based Catsimatidis is worth more than $4 billion, according to Forbes. Best known as the owner of the Gristedes supermarket chain in New York, he also made his fortune with oil refineries, gas stations and convenience stores. Catsimatidis’ other properties include a 450-unit oceanfront condo complex in Coney Island.

Catsimatidis said his company is opening an office in the St. Petersburg area in Tampa, The Real Deal reported, noting that he hired Kevin King, former chief of staff to St. Petersburg Mayor Rick Kriseman, to find additional locations, but added that land prices in Miami are higher than he would like.


NEW YORK – The New York Greek Independence Parade on Fifth Avenue, commemorating the 203rd anniversary of the Greek Revolution of 1821, was held in an atmosphere of emotion and pride on April 14, under sunny skies, after a brief shower just moments before it began.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


Evzones March in the Rain to Greek Flag Raising at Bowling Green in NYC (VIDEO)

NEW YORK – The heavy rain did not deter the Hellenic Presidential Guard, the Evzones, and the participants in the march from St.

CAIRO  — On a clear night a year ago, a dozen heavily armed fighters broke into Omaima Farouq’s house in an upscale neighborhood in the Sudanese capital of Khartoum.

‘Mega Spileo’ is a name that travels through time and draws visitors to a breathtaking landscape – mountains, age-old forests, and slopes overgrown with vines that seem to float over steep cliffs and deep gorges.

ATHENS - Socialist PASOK leader Nikos Androulakis is keeping up a fusillade of criticism at Prime Minister Kyriakos Mitsotakis, this time challenging him for a debate ahead of the elections for European Parliament in June.

ATHENS - Frenchman Baron Pierre de Coubertin so had his heart set in the modern Olympic Games that he created, the first in Athens in 1896, that when he died he had his heart buried near the spot where the ancient games were held, in Olympia.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.