Archives for January 2005

Coral Reef Resort on St Pete Beach Sells For $7.3 Million

The Coral Reef Hotel on St. Pete Beach has been sold for $7.3 million to Coral Reef Partners LLC. In addition to the hotel, buyers also purchased the lease on Bongo’s, the hotel’s beach bar/restaurant, for $1 million. The 60-room facility will continue to operate as the Coral Reef Beach Hotel, renovations are underway to redevelop the property as a resort hotel. There are also 2 timeshare buildings on the property that were not part of the sale.