1. Real Estate

St. Petersburg's State Theatre saved in $2.1 million deal

The State Theatre at 687 Central Ave. N. [CHERIE DIEZ   |   Times]
The State Theatre at 687 Central Ave. N. [CHERIE DIEZ | Times]
Published Jun. 28, 2018

ST. PETERSBURG — The State Theatre has been saved.

After months of renovations and capacity problems due to a series of fire code violations, the popular concert venue at 687 Central Ave. was sold Tuesday to a family trust run by St. Petersburg real estate broker Kevin Chadwick.

PREVIOUS COVERAGE: St. Petersburg's State Theatre for sale after struggles with fire code violations

Originally listed in December for $1.9 million, it sold for $2.1 million, a figure that includes both the property and the assets of the independently operated club inside. Chadwick — who already owns a three-story office building and parking lot on the 600 block, just northeast of the State Theatre — said he plans to invest up to an additional $1 million in safety and cosmetic upgrades.

"I really feel it's important to restore it back to a true historic landmark, and then once you're there, create a unique venue," said Chadwick, 57, who owns 10 Keller Williams real estate franchises around Tampa Bay. "It has to be authentic, and so the only way to do that is to truly pay attention to the detail of what it was when it first opened."

The venue will continue to host live music, he said, but also private events and maybe even return to its early days as a movie house. That's what it was the last time Chadwick went there as a patron, at age 12. It's also where his parents had their first date.

"We're still going to have fun concerts, but it's going to be a venue that's going to have multiple purposes," he said. "It's also going to be a theater, it's going to be an event hall where you might have private parties. You're going to feel really comfortable if you want to throw a real fun bash."

PREVIOUS COVERAGE: Amid fire code violations, the State Theatre struggles to keep shows

There were some concerns that the State's concert days were done. In November 2016, a fire marshal's inspection uncovered some 30 violations ranging from outdated fire alarms and sprinklers to a green room riddled with safety issues. Then in September, the fire marshal slashed the venue's capacity from more than 700 to less than 400, forcing some concerts to move to larger venues, and limiting the number of new shows the club could book.

"It's a great performing venue that a lot of people were concerned would not be around if someone didn't take some action," said Jon Wittner, managing director for KW Commerical Tampa Bay, who brokered the deal for Chadwick. "It's a rare, wonderful midsize concert venue that St. Pete could ill afford to lose."

In December the club's owners, Anthony and Frank Dagostino, exercised a clause in their long-term lease agreement that allowed them to put the club and property up for sale as a package.

Until this week, the State had zero concerts listed on its upcoming calendar. On Monday, promoters No Clubs announced they'd booked a Sept. 28 show there by singer-songwriter Andy Grammer, at an expected capacity of 600.

No Clubs is run by promoter Tony Rifugiato, who until Tuesday was also an owner of the property, but not the club business inside.

"As long as it meets a criteria we will put some of our shows there," Rifugiato said in an email. "It is part of the St. Pete fabric and shouldn't be ignored."

Chadwick said he will spend the rest of the summer getting the building fully up to code and restructuring its backstage dressing areas. By the end of the year, the building will get a renovated facade and new marquee. Next spring should see interior renovations, including three new bars.

"When you walk through the front door of the theater, you're captivated to want to be part of it," Chadwick said. "I think it's a perfect legacy property for my family. It's in dire need of somebody who cares and wants to restore it, and we have plans to truly do some great things for it."

Contact Jay Cridlin at or (727) 893-8336. Follow @JayCridlin.


  1. A for sale sign is seen in front of a home in the Westchase area of Tampa. CHRIS URSO  |  Times (2013)
    And a spike in cash sales suggests investors were active in the market.
  2. A proposed bill in the Legislature would set a statewide referendum on whether to amend Florida's constitution to add a year to the period when home buyers can transfer their accumulated benefits under the Save Our Homes cap on property assessments to a new home. Pinellas County Property Appraiser Mike Twitty says going from two years to three would reduce the possibility that construction delays in a booming real estate market would prevent some buyers from meeting the deadline, costing them potentially thousands 
 of dollars in property tax savings. [SUSAN TAYLOR MARTIN | Times (2019)]
    The bill, the idea of Pinellas County Property Appraiser Mike Twitty, would give buyers another year to transfer their tax savings under Florida’s Save Our Homes assessment cap to a home they’ve...
  3. More than 44 percent of people who searched on for the Tampa Bay area from June to December were outside the region, according to a report from Apartment List. Percentages in the “Top Three Sources” box represent the share of searches coming from outside the metro area. (Apartment List map) [Apartment List]
    The region trails only Denver, Baltimore and San Diego for the percentage of people from outside the area searching for apartments on Apartment List.
  4. This home in Colonial Hills neighborhood in west Pasco has been vacant for 10 years, neighbors said. A new Pasco County ordinance would require the owners of vacant and rental residences to register their properties with the Pasco County Sheriff's Office. [C.T. BOWEN  |  Tampa Bay Times]
    A new ordinance is supposed to aid sheriff’s deputies and code-enforcement officers dealing with rental or vacant properties.
  5. A beer is pictured in the outdoor games area of Park & Rec on Wednesday, May 22, 2019 in St. Petersburg. [LUIS SANTANA  |  Tampa Bay Times]
    The Towers of Channelside condo association has filed a lawsuit against the bar, as residents complain about noise.
  6. Flooding from an October king tide in Miami Shores fills streets, sidewalks and driveways at its peak. [Miami Herald]
    And it could lose up to 35 percent of its value by 2050, according to a new report.
  7. Downtown Tampa's skyline can be seen in the background of Water Street Tampa's new District Cooling plant at 301 S Nebraska Ave., on Wednesday. The plant produces chilled water that's pumped to most of the buildings in the 56-acre project. [DIRK SHADD  |  Tampa Bay Times]
    A centralized cooling plant will pump chilled water via underground pipes to every new building in the 56-acre development.
  8. The agrihood area in Arden, a development in Palm Beach County that includes a 5-acre farm and event barn. Lennar, one of the builders in Arden, is proposing an agrihood in its Angeline development in Land O' Lakes. [CHET FROHLICH  |  Freehold Communities]
    Preliminary plans include barns, pavilion, organic farm, community garden and restaurant.
  9. The view of the Gulf of Mexico from the master bedroom of the 19,578-square-foot home in Belleair Shores purchased in January 2019 by Ben and Karla Mallah for $16.5 million, the highest price ever paid for a home in the Tampa Bay area. [SCOTT KEELER  |  Tampa Bay Times]
    Proximity to the gulf and bay drove prices for the most in-demand homes into the eight-figure range during 2019.
  10. Alexandra Toigo, 32 and Sabrina Pourghassem, 23, pose for a photo at Hofbrauhaus St. Petersburg holding their signature beer mugs during Oktoberfest 2018. ["LUIS SANTANA  |  TIMES"  |  Tampa Bay Times]
    The beer hall’s property owners filed a lawsuit saying the restaurant missed its rent starting in August.