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

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 Articles

arrow_forward_ios
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
Alec Scheiner, former Cleveland Browns president, with 249 Sandpiper Drive in Palm Beach (RedBird Capital, Sotheby's International Realty)
Ex-Cleveland Browns president scores Palm Beach home
Ex-Cleveland Browns president scores Palm Beach home
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Q2’s largest retail transaction: Regal Acquisitions’ $34 purchase of CVS-anchored retail at Boulan South Beach hotel (Google Maps)
South Florida’s retail market slowly emerges from pandemic woes in Q2
South Florida’s retail market slowly emerges from pandemic woes in Q2
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...