About Red Apple Group
Red Apple Group, owner of the two-acre 400 Central Avenue block in the heart of downtown St. Petersburg, is refining design concepts for its mixed-use development which will emphasize the City’s vibrant lifestyle, dynamic arts community and extraordinary location. New York billionaire, John A. Catsimatidis, owner of Red Apple Group has deep family ties in St. Petersburg, and has directed that the landmark project recognize and reflect the City’s critically acclaimed arts, culture and creativity.
John Catsimatidis’ relationship with St. Petersburg began decades ago with regular trips with wife, Margo, to visit her family. As downtown St. Petersburg grew and flourished, Mr. Catsimatidis saw the opportunity to purchase the coveted 400 Central parcel and create a “beautiful building.” As patrons of the arts and founders of the John and Margo Catsimatidis Foundation, the Catsimatidis family has donated millions of dollars to charities and organizations nationwide. Locally, the Catsimatidis’ are among the 14 major donors helping to fund the Janet Echleman aerial sculpture at the new Pier, and Red Apple Group is the presenting sponsor for the annual Florida CraftArt Festival in November and the Poynter Institute’s annual Bowtie Ball in December. Margo and her mother have served as the Chairwoman of the annual St. Petersburg Russian Heritage Foundation dinner.
New York based Red Apple Group purchased the 400 Central property in 2017. Renowned Miami-based Arquitectonica, has been selected to create an original, world-class design for the project. Red Apple Group also purchased the Florida Arcade at 449 Central Avenue, a 15,000 square foot historic building.
Red Apple Group is the multi-billion dollar umbrella organization for the real estate, energy, finance, insurance, and supermarket businesses owned by Mr. Catsimatidis. Red Apple has been in business for nearly 50 years and currently has over 8,000 employees. It is the 5th largest privately held company in New York and the 105th largest in the United States.
Red Apple Real Estate (RARE), Red Apple Group’s real estate arm, creates mixed-use properties that feature luxury living options and amenities, with convenient, neighborhood retail elements. RARE’s newest project, Ocean Dreams, a 425-unit luxury residential building is under construction directly on the Atlantic Ocean in Coney Island, NY. RARE recently completed construction of four mixed-use, primarily residential buildings in Downtown Brooklyn, NY, which collectively encompass nearly 1,000 residential rental apartments, 50,000 square feet of retail space and three full service parking garages. RARE has an additional two million square feet of mixed-use projects in the development pipeline.
