By Christopher Haraden

Two months to the day after receiving planning board approval of its special permit for the Paragon Dunes project, a Middleton developer finalized the purchase of the property for $6 million.

The Procopio Companies plans to build a four-story, 132-unit mixed unit project at what has been known as the Paragon Boardwalk since 2017. The sale spells the end of the outdoor beer garden and indoor arcade, as well as the adjacent miniature golf course, as the former owner returned the venue’s liquor license to the town in March.

“We would like to forfeit our liquor license for Paragon Entertainment Ventures effective March 31. … Our insurance coverage will be lapsing on that date and we will not be renewing it,” Chris Reale, one of the property owners, wrote in a March 6 letter to the select board. If Procopio plans to reopen the businesses, the company would need to apply for its own business permits.

Principal Michael Procopio of 197 Nantasket Owner LLC purchased the site from Nantasket Dune Holdings LLC on May 20. The $6 million sale price was supported by a mortgage of the same amount from First Boston Construction Holdings LLC, a private lender owned by the Grossman family of Quincy. Nantasket Dune Holdings purchased the property from the Levin family for $1.25 million in November 2017 and replaced a large section of the storefronts with outdoor seating and performance space.

Procopio’s Paragon Dunes project is currently under environmental review by state and local authorities.

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