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

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

800 South County Road (Credit: Realtor)

Mizner estate in Palm Beach sells for $24M

Nirka Burns Padilla and Martin Conroy 

Movers & Shakers: Palm Beach broker leaves William Raveis for Douglas Elliman & more

Mark Wilf, and 310 Atlantic Avenue (Credit: Getty Images and Realtor)

Co-owner of Minnesota Vikings sells Palm Beach townhome

Roger Hertog and The Bristol in West Palm Beach (Credit: Getty Images)

Investment honcho pays $14M for condo at The Bristol

225 Indian Road

10th most expensive home sale of the year closes in Palm Beach

Miami (Credit: iStock)

These were the top residential sales in South Florida in 2019

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

1415 South Ocean Boulevard and Steve Schonfeld (Credit: Google Maps and Getty Images)

Hedge funder, wife drop $105M for Palm Beach estate