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4923 New Providence Avenue
Tampa, FL 33629
$8,500,000
Conventional
Property
Bedroom
5
Bathroom
7
Property Type
Conventional
Square ft
7838
Property Description
Under contract-accepting backup offers. Please click the button to see the 3-D Matterport video tour. 4923 New Providence Avenue is a truly magnificent estate that only comes around once in a blue moon. The quality, design, and attention to detail are unparalleled and unlike anything else on the market. The home sits on an oversized lot in Culbreth Isles at 21,312 square feet with imported Italian turf stretching the length of the property. You immediately get the sense of the grandeur of this home as soon as you enter through the 10-foot tall double steel doors and are immediately greeted by soaring ceilings of 20 1/2 feet and a large wedding spiral staircase, inspired by the St. Regis Atlanta (see entrance photo). The living room, visible from the entrance, is also 20 1/2 feet high. Which is centered by a solid stone fireplace, carved and shipped in one piece from Turkey, that took a forklift driving through the front door while the home was being built to install. Other one-of-a-kind features of the home include exceptional soundproofing in every single exterior wall to make sure you are not bothered by the outside world while enjoying your home; a glass elevator with Carrera marble lined shaft that looks up to a Chihuly inspired blown-glass fixture; a one of a kind cinema room, a SONOS compatible system throughout the house, an industrial-sized generator that can power the entire Estate for up to 2 weeks, the highest rated hurricane proof windows throughout, and much more. All bathrooms upstairs have steam showers – nearly every toilet in the home is a TOTO toilet - the master bathroom comes with two. Although there are four bedrooms and six full bathrooms, the 13 1/2 foot ceiling cinema room has another bathroom which could easily be converted to another master or even a large ballroom/entertainment space. The fitness room can also easily be converted into another bedroom; giving buyers the option for a six-bedroom home. The kitchen is an oversized gourmet chef’s dream with two full ovens and 6 burners, all WOLF appliances that sit adjacent to a climate-controlled wine cellar and butler's pantry. The house is full of redundancies to make sure you never are short on space, such as having 3 full-size subzero refrigerators, 5 freezers and 2 refrigerator drawers in the kitchen and pantry alone. The fully custom kitchen is also outfitted with a massive 10-foot island for seating, a restaurant-grade solid 5x5 foot wood butcher's block, and banquet restaurant-style seating by windows that gazes out over the exotic trees and backyard water oasis. This home also has a full three-car airconditioned garage with height for car lifts and extra parking spaces for at least 12+ guests in the driveway. The elaborate and exclusive outdoor entertainment space is highlighted by a cascading infinity edge saltwater pool which is surrounded by a crushed coral deck that withstands the heat. Finally leading to the bay are two cement docks (never to be replicated in Culbreth Isles) that can easily house a 50-foot boat on the 30,000 pound-rated boat lifts, alongside a jet ski lift for two skis. From the home's concrete dock, one can see the open Bay.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2011
MLS Number
T3401788
Location
Address
4923 NEW PROVIDENCE AVENUE
City
TAMPA
State
FL
Zip Code
33629
County
HILLSBOROUGH (SOUTH)
Listing
Provider
The Toni Everett Company, original listing
Name
The Toni Everett Company
Phone
(813) 839-5000
Office Name
THE TONI EVERETT COMPANY
Office Phone
(813) 839-5000
Agent Name
Toni Everett

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.