A prominent corner building in downtown Lake Wales has changed hands as a prominent St. Petersburg development team makes its first foray into the active downtown real estate market.
The former Friedlander Department Store and True Value Hardware location was purchased this month by Michael Andoniades, a principal of the Andoniades and Blackmon families.
Robert Connors
The former Friedlanders’ Department Store on the corner of Park Avenue and First Street in downtown Lake Wales features significant art deco architectural details. The building, which stands across the two streets from the Walesbilt Hotel, has been purchased by St. Petersburg developer Michael Andoniades.
The alliance between the two prominent redevelopment firms had previously applied to acquire the Walesbilt Hotel when it was offered by the Lake Wales Community Redevelopment Agency last year. Their proposal was ranked second of four, eventually losing to Restoration St. Louis which is now contracting to restore the hotel, expected to become part of the Marriott Tribute Collection of historic hotels.
The two family-owned companies have restored multiple buildings, including hotels, apartments, and commercial properties across St. Petersburg, where they previously focused their attention. The two families are also restoring the famous Harder Hall in Sebring, a resort hotel which sat empty for decades despite previous failed attempts to address it.
The building is located at the corner of Park Avenue and First Street. Both streets have recently received extensive reconstruction and beautification as part of the Lake Wales Connected streetscape plan. The two streets also form frontage for the Walesbilt Hotel.
The three-story property features many Art Deco architectural details that promise to make it a notable property once restored. It was sold by local investment firm Scenic West LLC, reportedly for $450,000. That firm had purchased it from the Friedlander family in May, 2023 for $369,000. The Polk County Property Appraiser website shows an estimated market value of $361,470.
Andoniades previously restored the Avalon and the Hollander, two historic boutique hotels in St. Petersburg which have attracted praise and attention. His frequent co-investor, Robert Blackmon is a former member of the St. Petersburg city council and has founded several real estate ventures there and in other west coast communities.
Scenic West has since redeveloped an adjacent commercial space, which now houses four businesses including two restaurants, The Thirsty Dragon and Smokin’ DJ’s barbecue, along with two personal care service shops.
Scenic West also owns the adjacent vacant land which was landscaped last year to create St. James Park, an outdoor activity and entertainment venue, as well as a former locksmith shop poised for redevelopment as a food service outlet in coming months.