Restaurant property in Palm Beach sells for about $26M

Frisbie Group says it bought the former Charley's Crab property and an adjacent lot after the restaurant closed

TRD MIAMI /
Apr.April 07, 2018 09:00 AM

456 South Ocean Boulevard in Palm Beach (Credit: Google/Redfin)

Frisbie Group says it bought the oceanfront location of the shuttered Charley’s Crab restaurant in Palm Beach for about $26 million.

Charley’s Crab closed its Palm Beach location at 456 South Ocean Boulevard on Monday after operating there for 40 years.

Suzanne Frisbie, a principal of Frisbie Group, told the Palm Beach Daily News that the company may build five townhouses on the site of the restaurant and a house on an adjacent vacant lot that was part of the sale.

BCD Investors, a limited liability partnership, sold the 1.2-acre restaurant property, which has 280 feet of frontage on the ocean, and the vacant lot.

BCD paid $3.3 million in 1992 for the site of the 9,000-square-foot building that housed Charley’s Crab and the vacant lot just west of the restaurant’s parking lot.

Palm Beach-based Frisbie Group paid $30.7 million in October for a nearby commercial building at 125 Worth Avenue. [Palm Beach Daily News] – Mike Seemuth


Related Article

arrow_forward_ios
Robert Matthews and Palm House Hotel

Embattled Palm House developer Robert Matthews agrees to federal securities charges

Ken Griffin over the island of Palm Beach

Inside billionaire Ken Griffin’s massive Palm Beach holdings

Collage of Ken Griffin’s properties and Ken Griffin

Ken Griffin’s many many mansions: Billionaire’s latest is a $99M Palm Beach estate

Robert Matthews and the Palm House Hotel (Credit: NAIOP)

Palm House Hotel developer will use taxpayer money to pay legal bills: report

Steve Wynn and 1960 South Ocean Boulevard (Credit: Sotheby's and Getty Images)

Disgraced casino mogul Steve Wynn drops $43M on Palm Beach estate

President Donald Trump (Credit: Getty Images, Mar-A-Lago Club)

Trump properties in Palm Beach County could get $1.5M tax bill

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

arrow_forward_ios