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
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Todd Glaser with aerial view of 870 South Ocean Boulevard in Palm Beach. (Google Maps, Mary Beth Koeth)
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
320 Island Road, Palm Beach (Google Maps)
Payday lender CEO buys Palm Beach house for $26M
Payday lender CEO buys Palm Beach house for $26M
W. Allan Jones & 326 Via Linda, Palm Beach (Wikimedia Commons, Google Maps)
Cash king sells waterfront Palm Beach home for $27M
Cash king sells waterfront Palm Beach home for $27M
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Judith Ripka Berk and Ronald Berk with 273 Tangier Avenue, Palm Beach (Getty, Google Maps, iStock)
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Eduard de Guardiola with 235 Via Vizcaya (Vista Realty, Premier Estate Properties/Realtor)
Atlanta real estate investor sells waterfront Palm Beach house for $18M
Atlanta real estate investor sells waterfront Palm Beach house for $18M
arrow_forward_ios

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

Loading...