Historic Senior Living Community Princess Martha Sold

Englander Fischer announces the sale of The Princess Martha, St. Petersburg’s historic senior-living apartment community. The sale was the result of a collaboration between WRH Realty Services, Inc., The Princess Martha, LLC., and Englander Fischer.

“Our work on The Princess Martha is historic and symbolic and we are proud to be associated with this transaction,” said Will Conroy, an associate with Englander Fischer, who specializes in real estate transactions. “Our real estate department worked hard to use creative strategies throughout the process of getting to the closing, particularly in resolving notice of commencement issues. The significance of the property and the issues that we had to overcome made this particular transaction an interesting one, and very satisfying for us.”

Conroy, recently selected as a Florida Trend Legal Elite “Up and Comer”, and Ernest L. Mascara, who has practiced in the real estate area for more than 37 years, were lead counsel for the seller in the Princess Martha transaction. Englander Fischer’s real estate department focuses heavily on complex commercial transactions, real estate finance and banking law. Its attorneys routinely represent both buyers and sellers of grocery anchored shopping centers, asset-backed financing, medical office developments, and other commercial real estate opportunities.

The Princess Martha, formerly known as the Mason Hotel, was built in 1924 in neoclassical revival style and was the first hotel in St. Petersburg to be financed by the sale of public stock. In 1978, The Princess Martha was transformed from a hotel to residential space. The Princess Martha is currently home to more than 70 seniors and is located in the heart of downtown St. Petersburg. It consists of 118 units on nine stories, includes approximately 5,000 square feet of ground-floor retail space and has been home to notables such as Babe Ruth and Al Capone.