Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WEST PALM BEACH, FL-Miami-based BAP Development will retain ownership of Opera Place at 419 Lakeview Ave., where the developer plans to build a mixed-use development with hotel, office and retail space, and a limited number of condominiums.

A 20-story condominium development had been planned for the site under a contract to sell the site to Trinity Quadrille LLC for $44 million. However, the buyer defaulted and failed to close after four scheduled closing dates. The developer has returned all deposits to former buyers of the planned condominium.

A BAP spokesperson tells GlobeSt.com that the company, which specializes in urban infill development, plans to develop more specific details for the project over the next several months. No further details regarding the project are being released at this time.

“We appreciate the cooperation of all those who supported our project specifically buyers who waited earnestly for their deposits,” BAP president Willy Bermello says. “We look forward to unveiling our plans in the near future and continuing our commitment to Downtown West Palm Beach.”

BAP has completed 610 Clematis in West Palm Beach and Onyx in Miami, and is developing the Cypress Club in Fort Myers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.