NYC billionaire behind St. Pete tower talks move to Tampa Bay, with plans to stay

John Catsimatidis is the New York City developer behind St. Petersburg's tallest tower, the Residences at 400 Central. He spoke about investing in the Tampa Bay region and, soon, calling it home.

By Anastasia Dawson
| 5:11 p.m. October 20, 2025
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John Catsimatidis Sr., the owner of the New York-based real estate firm Red Apple Group, poses with a rendering of the Residences at 400 Central in St. Petersburg.

Tampa Bay-Lakeland

Growing up in Harlem, John Catsimatidis would draw back the curtains of his window and see nothing but a brick wall, he told the Economic Club of Tampa during a luncheon Monday. He always aspired to have a room with a view — that’s why Catsimatidis, who is now a billionaire and St. Pete developer, among many other roles, chose to raise his family in a home overlooking Central Park.

Soon, though, Catsimatidis may be trading Central Park life for panoramic views of downtown St. Petersburg. Catsimatidis, owner of Gristedes supermarket chain and founder and CEO of Red Apple Real Estate, has purchased the penthouse apartment of his signature development in the region, the Residences at 400 Central, which will be the tallest tower in downtown St. Petersburg when it opens next year.