FORT MYERS BEACH, Fla. — A piece of real estate in Fort Myers Beach has set a new record, selling for $3.65 million. The vacant lot, formerly the site of the Greek restaurant Plaka, is located in Times Square.
The lot, measuring just over 3,200 square feet, sold for a price of over $1,100 per square foot, making it the most expensive land per square foot on the island.
For over forty years, Plaka was a cornerstone of Times Square, recognizable by its signature blue umbrellas until it was destroyed by Hurricane Ian.
Rebecca York, a former patron, fondly recalls her daily visits. "I used to get food from Plaka every day that I worked, cause I worked next door, and Bonnie would bring me my tuna fish sandwich every day, and they were amazing," York reminisced.
The lot's new owner, a buyer from Miami, has ambitious plans for the property. Joe Pavich Jr., who represented the seller and the buyer in the deal, shared insights into the future development.
"It's going to be a two-story restaurant, with a rooftop component," Pavich revealed. "And the cool thing is that they're going to have a parking garage right next to it, so parking will go right in there, which is nice," Pavich stated.
Naples-based MHK Architecture is collaborating with the new owners to design the new establishment. Pavich describes the envisioned style as "Old Florida," which will pay homage to the location's history while bringing a fresh and modern touch to the area.
As of now, no final plans have been submitted to the town, but the new owners aim to break ground before 2026.
