Universal Health's condo sells for $795K
By Mark Holan
Tampa Bay Business Journal
Published: Aug 15, 2013

The Signature Place condominium unit once owned by Universal Health Care Inc. has sold for $795,000, records show.

Meanwhile, a potential deal to sell the office building at 100 Central Ave. once owned by Universal has fallen through. The 134,000-square-foot building remains on the market, a spokesman for the Florida Department of Financial Services said.

Robert E. Bettencourt bought the 28th floor unit from the state agency acting as receiver for both propertes.

Universal bought the Bay-facing condo unit for $507,000, or about $277 per square foot, in March 2010. The new price equates to almost $435 per square foot.

A smaller 20th floor unit sold in June for $437 per square foot.

The Tampa Bay Business Journal first reported in May that the condo and Universal's 134,000-square-foot office building at 100 Central Ave. were being marketed by Colliers International Tampa Bay.

The condo was sold on July 25, a day before the Tampa Bay Times detailed the lavish spending of Dr. Akshay "Doc” Desai, founder of the bankrupt St. Petersburg company.

The condo furnishings included nearly $20,000 in custom window treatments, $17,000 for six Knoll Platner armchairs and a 60-inch Samsung LED television for $2,600.

Altis Real Estate Strategies of Miami had signed a letter of intent to buy the office tower for $10 million, but the state spokesman emphasized the building remains for sale.

Universal's furnishing from the office building, detailed online by the Business Journal, are to be auctioned at a still undetermined date.

Mark Holan's beats include commercial real estate and residential real estate.