treasure island yacht club sale

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Shuttered Treasure Island yacht club sells to California investor

• Rebecca Liebson Times staff

A former yacht and tennis club turned event space that shut its doors in August now has a new owner.

California-based Tavaco Properties acquired the Club at Treasure Island last week and plans to reopen it, Sam Tavakoli, a partner at the company, told the Tampa Bay Times.

“This really is an underutilized gem on Treasure Island,” he said “We are so excited about this club and looking forward to revitalizing it.”

The club’s previous owner, Bill Edwards, took over the property in 2009 and turned it into an event space after the Treasure Island Yacht and Tennis Club filed for bankruptcy. Thirteen years later, the local business mogul ended up filing for bankruptcy on the club himself. After plans to build condos at the site fell through, Edwards shuttered the club, telling the Times he was “tired of losing money.”

In September, an LLC connected to Bank OZK bought the property for $15.1 million, according to Pinellas County property records. Tavaco then acquired that LLC, taking over the club along with it.

That same LLC took out a $4.8 million mortgage loan last week, according to records filed with the Pinellas County Clerk of Court.

Tavakoli said they hope to lease out the club to a number of different operators, each running a different aspect of the business from the pool to the tennis courts to the events space. He said he believes Edwards was unsuccessful because the space is too large to be run as a single entity.

“We want the best in each category,” he said. “We want all the tenants there to have synergy together so it feels like a private club but it is for the public”

There’s no timeline for the re-opening yet, but Tavakoli said they are looking in to hosting some pop up events including Sunday pool parties in the meantime.

Rebecca Liebson is a reporter covering real estate and housing. She can be reached at [email protected].

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Treasure Island Tennis & Yacht Club - Treasure Island FL Condos for Sale

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Treasure Island Tennis & Yacht Club - Development & Condo Fees - Treasure Island Florida

Located in the shadow of Boca Ciega Bay overlooking the Intracoastal Waterway along the Treasure Island Causeway Bridge in the Treasure Island Tennis & Yacht Club. Completed in 1974, this group of 2 buildings containing 5 residential floors provides the perfect combination of living space and recreation. The floor plans are adequate for stays of days, weeks, or months at a time ranging from 885 to 1,780 square feet.  There are water views from the south and east and you can enjoy breathtaking sunsets for the majority of the year. Most units come with two designated parking spaces, guest parking, and a private storage room for your beach toys. The Club at Treasure Island is the place to be as you can enjoy the pool, tiki bar, and on-site boating accommodations just steps away from your unit. You are located within a few blocks of fantastic gulf beaches. Club memberships and slips are available at the Club at Treasure Island as well as other local Yacht clubs and marinas with reciprocity, tennis courts, golf courses, and the famed historical Downtown St. Petersburg that features a multitude of museums, art galleries, boutiques, and restaurants. Enjoy 9-hole golf, basketball, and Pickleball at nearby Treasure Bay Golf and Tennis. Contact us today for a showing appointment!

Interested in exploring similar condos in the area? Try the Key Capri development! It's very close by and offers a similar experience.

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Love what condos at Treasure Island Tennis & Yacht Club in Treasure Island, FL have to offer?  Featured below are all available condo listings currently on the market at Treasure Island Tennis & Yacht Club. If you are interested in a particular unit, click on that listing to view additional photos, specific details relating to that unit, and even more information about the building or complex and its location. From there you can also schedule a tour using the calendar feature on each listing detail page as well.

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Treasure Island Yacht Club sells for over $15M

September 1, 2023 - The Club at Treasure Island, which recently and suddenly closed its doors , has sold in a roughly $15.1 million sale. St. Petersburg businessman Bill Edwards, who purchased the club in 2009, sold the 7.67-acre waterfront property to an LLC connected to Bank OZK. This was a deed given in lieu of a foreclosure of the property, according to the Pinellas County records. The 36,966-square-foot club, located at 400 Treasure Island Causeway, features a wraparound swimming pool with a sundeck, a tiki bar, a dining restaurant, a 47-slip marina, six tennis courts, a fitness center and a venue space for weddings and events. Edwards previously said the new owner plans to continue to operate the marina.

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Yacht & Tennis Club with Marina in Treasure Island, FL $25,000,000

Treasure Island’s crown jewel. The Club of Treasure Island. The site consists of 7.67 acres with an additional 1.49 acres of submerged land. Located on the south side of Treasure Island Causeway, just over the drawbridge (west) on the Intracoastal Waterway. The Club land is 625 feet on Treasure Island Causeway and 563 feet of seawall on Boca Ciega Bay. The waterfront Tennis and Yacht Club features a total of 48 wet slips that will hold vessels from 25 feet to 80 feet, six tennis courts, an Olympic size swimming pool and a clubhouse consisting of 39,318 gross square feet. There are five event spaces (event space for 300), executive offices, a bridal suite, locker rooms, game room, kitchens, dining room (205 dining capacity), bar & outdoor entertaining area. Zoning is RFM-15 or 115 total units. Current parking is greater than 200 spots. This is a great waterfront location within .75 miles of Treasure Island Beach and the Gulf of Mexico. Excellent potential for waterfront residential redevelopment. Convenient access to the Gulf of Mexico via the Intracoastal Waterway and John’s Pass.

Buyers agent: Anthony Giuffrida. Buyers Agent Office: La Rosa Realty. Buyers Agent e-mail: [email protected]

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