Make us your home page

Would-be buyer of former St. Petersburg YMCA sues owner

ST. PETERSBURG — The saga of the historic YMCA at 116 Fifth St. S continues. Tom Nestor, who has a purchase agreement to buy the 88-year-old building for $1.4 million, is suing the owner, V P C 3 II.

Nestor, the local music producer who has raised donations to make several payments on the building, alleges that the owner is violating the purchase contract. The owner returned a payment of $18,000 to Nestor, saying it was late and that he was in default on the contract. The owner, who is represented by Phil Powell, said a separate contract had been entered into with a third party who wanted to buy the property.

Powell declined to comment on the lawsuit or potential other buyer.

Nestor's attorney, Russell Cheatham, cited the contract's grace period of 20 days for accepting payments and said the March payment was paid well within the grace period.

Nestor said he will have the $1.2 million due in July to complete the purchase of the building.

Would-be buyer of former St. Petersburg YMCA sues owner 04/22/14 [Last modified: Tuesday, April 22, 2014 2:49pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa man pleads guilty to forging check for fake investment

    Personal Finance

    A Tampa resident was convicted Thursday for forging a check for a fake investment. The Florida Office of Financial Regulation said that Eric Franz Peer pleaded guilty. He served 11 months in jail and will have to pay $18,000.

  2. Minority business accelerator launch by Tampa chamber to aid black, Hispanic businesses


    A "minority business accelerator" program was launched Thursday by the Greater Tampa Chamber of Commerce geared toward helping black and Hispanic business owners identify and overcome barriers to grow their companies. The accelerator, known as MBA, will provide participants with business tools to cultivate opportunities …

    Bemetra Simmons is a senior private banker at Wells Fargo, The Private Bank. She is also chair of the new minority business accelerator program for the Greater Tampa Chamber of Commerce. [Photo, LinkedIn]
  3. Terrier Tri brings unique triathlon training to South Tampa


    Over a decade ago, Robert Pennino traded late nights in the music studio for early mornings in the Terrier Tri cycle studio.

    Terrier Tri, a cycling studio in South Tampa celebrates a grand opening on June 27. Photo courtesy of Tess Hipp.
  4. New bistro hopes to serve as 'adult Chuck E. Cheese'


    YBOR CITY — Inside Cheezy's Bistro and Speakeasy, a new restaurant opening in Ybor City, customers will find a mix of family recipes, games and secrecy.

    Cheezy's Bistro and Speakeasy readies to open in Ybor City. Photo courtesy of Cheezy's Bistro and Speakeasy.
  5. Ramadan having an economic impact on local charities, businesses

    Economic Development

    TAMPA — Dodging the rain, a few families and customers gathered inside Petra Restaurant on Busch Boulevard. Around 8:30 p.m., the adham (or call to prayer) music begins, signaling Iftar, the end of the daily fast. Customers grabbed a plate to dig into the feast.

    Baha Abdullah, 35, the owner of the Sultan Market makes kataif, a common dessert that is eaten during the month long celebration of Ramadan in Tampa. [OCTAVIO JONES   |   Times]