Jim Syprett and Jay Lancer closed on the Siesta Key Village property this month.
Correction: A previous version of this story incorrectly stated that there would be a new location for the restaurant.
A Siesta Key Village property changed hands this month, as the former Jo-To Siesta Key building sold for $1.35 million.
Property investors Jim Syprett and Jay Lancer — who own at least 30,000 square feet of property in the Village — bought the parcel at 5218 Ocean Blvd. with plans for a remodel and new restaurant tenant. The pair was responsible for the re-vamp of the former 7-11 on Ocean Boulevard into a Sandal Factory and the development of Gidget’s Coastal Provisions.
“I believe that the restaurant that was where Gidget’s was and the 7-Eleven building were the two shoddiest, least improved buildings in the Village,” Lancer said in a recent interview with the Siesta Key Observer. “They’re gone. I consider that to be a great improvement.”
The former Jo-To building last sold for $740,000 in 2001. The county issued a permit for a $37,000 re-roof for the property last week, and Siesta Key architect Mark Smith is planning to open up the front wall and create two small outdoor patios, as well as bring the bathrooms into compliance with the Americans With Disabilities Act and create a central bar area.