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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Three years after leaving downtown St. Pete, Acropolis Greek Taverna is returning to Central Avenue with its familiar Greek dishes, lively celebrations, and a new underground lounge.
The restaurant will open at 475 Central Avenue, the former home of Concrete Jungle, which closed in January after just over two years in business.
A grand opening is planned for mid-December.
Acropolis previously spent 12 years at 515 Central Avenue before closing in 2023 following a dispute with its landlord.
For Sam Waez, who co-founded Acropolis in 2001, the past three years have been spent looking for a way back to St. Pete.
“This is my backyard. All my people are here, all my friends,” Waez said in a conversation with St. Pete Rising. “I like being here.”