EBC Capital, a New York and Miami-based real estate investment and development firm led by Eric Cohen, has acquired two properties in Downtown West Palm Beach for $5.6 million. The properties, located at 303 Gardenia Street and 501 S Olive Avenue, are part of EBC Capital’s plan to support the area’s revitalization, with leases already secured for tenants like men’s sportswear brand Redvanly and women’s swimwear brand Montce. The acquisition is intended to attract tenants from the wellness, hospitality, and fashion sectors.
The property at 303 Gardenia Street is a two-story, mixed-use building with nearly 10,000 square feet of space. EBC Capital plans to renovate the ground-floor retail spaces to attract high-traffic tenants and convert the second-floor residential units to commercial space focused on health and fitness businesses. Dailey Janssen Architects will oversee the renovations, including utility upgrades, whiteboxing retail spaces, and aesthetic improvements to the building’s facade and streetscape.
303 Gardenia Street. Photo from Google Earth.
The single-story building at 501 S Olive Avenue, formerly the Palm Beach Railway Station, currently serves as office space and offers 1,681 square feet with 18 parking spaces. EBC Capital is considering redevelopment options for the property, potentially transforming it into a boutique wellness center, upscale showroom, or food and beverage venue. The redevelopment efforts are estimated to take up to 18 months.
501 S Olive Avenue.
501 S Olive Avenue. Photo from Google Earth.
“We are thrilled to expand our footprint in West Palm Beach, a city that offers immense potential for growth and creativity,” said Eric Cohen, CEO of EBC Capital. “With new tenants like Redvanly and Montce, we’re creating an exciting destination for locals and visitors, bringing together fashion, wellness, and innovative dining.”
This purchase marks EBC Capital’s expansion into South Florida, following its success with projects like The Block in East Williamsburg, Brooklyn, which has become a cultural and commercial hub with tenants such as Van’s Skate Space, Casa Tua, and Valrhona Chocolate. EBC Capital aims to create a similarly vibrant ecosystem in West Palm Beach, aligning with its mission to develop community-focused commercial spaces.
EBC Capital is also engaging with the local community as part of its development strategy, with plans to collaborate with stakeholders in shaping the area’s future.
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