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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After five years away, The Moon Under Water is reopening on Monday, November 16th, at 5 p.m., bringing its British pub fare, Indian curries, and extensive beer selection to downtown Gulfport.
The restaurant, which operated for more than two decades on Beach Drive in downtown St. Petersburg, has found a new home at 2832 Beach Boulevard South, formerly occupied by The Drunken Taco, which closed in September 2025.
The reopening will bring back longtime favorites, including fish and chips, shepherd’s pie, bangers and mash, and a variety of Indian curries ranging from tikka masala to vindaloo.
The Moon Under Water first opened in 1997 at 332 Beach Drive NE. Founded by Alan and Suzanne Lucas, who moved to St. Pete from Wales, the British Colonial pub operated for nearly 25 years before closing in 2021, when the space was converted into Ceviche.