The Real Deal Miami

Site of hotel-and-office project listed for sale

Boca Raton-based developer Privcap bought the site for $1.7 million in January
July 01, 2017 12:45PM

Rendering of the Cosmopolitan project in West Palm Beach.

A Boca Raton developer listed for sale the site of a West Palm Beach hotel-and-office project called the Cosmopolitan after paying $1.7 million for the site in January. Boca Raton-based Privcap had planned to spend $55 million to build a complex called the Cosmopolitan, with a 201-room hotel, 125,000 square feet of office space and a seven-level parking garage.

But commercial real estate broker E. Anthony Hollis confirmed that the site at 415 South Dixie Highway in West Palm Beach, a former location of Russo’s Submarine Shop, is for sale. The Palm Beach Post also reported that Privcap officials did not return phone calls for comment. [Palm Beach Post] –  Mike Seemuth