Property investor Chris Brown purchased a two-story building at 1400 Main Street, at the corner of Main Street and S. Pineapple Avenue.
Brown, who owns real estate on Siesta Key, purchased the building for $2.65 million from Kress International Plaza owner Harry Walia. The deal, which closed May 8, is Brown’s second investment downtown in the past year.
In November, 2012, Brown purchased two Main Street office buildings at 1718 Main Street and 1734 Main Street for $2.8 million.
The property at 1400 Main Street, bordering the southeast corner of the Five Points roundabout, fronts one of the most walked sidewalks downtown.
Brown said Floribbean, a restaurant and nightclub, plans to relocate from the building at 1400 Main Street later this month.
“Floribbean, I believe, is scheduled to move to a new location on Ringling Boulevard,” Brown said.
Brown said “he is open to ideas” for the property, but he does not have specific plans yet. Brown said he purchased 7,000 square feet of property.
“It is a very special building, and I want whatever goes there to be compatible with the area,” Brown said.
Previously, downtown staple Patrick’s Restaurant filled the first-floor space at 1400 Main Street.
“I think all of Main Street is a good location,” Brown said. “But this one property in particular, I think this one is the best location in Sarasota.”
Many good restaurants in the area make this block a prime sport, and a downtown improvement district project to improve sidewalks and a planned nearby parking garage at State Street will enhance the walkability of the area, Brown said.
Brown is best known as the owner of The Beach Club, The Hub and The Cottage restaurant on Siesta Key.