Tampa restaurateurs buy former Tokyo Restaurant building

BUYER: 29 Blvd of the Presidents LLC (principal: Mark Levey), Tampa
SELLER: Biel REO LLC
PROPERTY: 29 N. Boulevard of the Presidents, Sarasota
PRICE: $2.7 million
PREVIOUS PRICE: $3.19 million, June 2012
LAW FIRM ON DEED: Barnett Bolt Kirkwood Long & McBride, Tampa

PLANS, DESCRIPTION: Tampa restaurateurs Mark and Jeff Levey purchased the 5,950-square-foot former Tokyo Restaurant building on St. Armands Circle for $2.7 million.

The price equated to $454 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.