Former Times building, historic Tramor property in downtown St. Pete sold for $32.5 million
/Two prominent properties in the heart of downtown St. Petersburg have sold for a combined $32.5 million, with plans for a high-rise condominium tower on the site.
Naples-based Stock Development, a family-owned luxury real estate development and homebuilding company, has purchased the 490 First Avenue South tower, formerly home to the Tampa Bay Times, and the historic Tramor Cafeteria building at 123 4th Street South, most recently occupied by Hofbräuhaus St. Petersburg.
The two properties together comprise 1.8 acres.
"We're excited to continue expanding our brand and remain confident in St. Petersburg and the Tampa Bay region," Keith Gelder, president of Stock Development, said in a conversation with St. Pete Rising. "We look forward to bringing a signature project to the market."
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Reverie Room, a new bookstore and lounge with themed rooms, reading nooks, and much more, is expected to open in the Warehouse Arts District later this month.
Owner Nichole Coronado is bringing the concept to 655 31st Street South, where she hopes visitors will come not only to find a book, but to stay awhile.
The 2,200-square-foot shop will share a building with FYI Dance Co. and a parking lot with Beech Kombucha. The space previously housed House of Vegano and The Body Electric Athletic Company.
Reverie Room is named for the idea of being pleasantly lost in thought. Inside, Coronado has divided the bookstore into four rooms, each with its own personality.
A children’s room leans into a whimsical mix of dragons, princes, princesses, bean bags, and a unicorn rug. The romance room has vintage furniture, floral touches, and darker, gothic-inspired decor. Coronado gave the nonfiction and adventure room a nautical feel inspired by the Tampa Bay area.
A separate lounge will host private events and smaller gatherings.