Waterway Cafe in Palm Beach Gardens sells for $13M

The popular restaurant has over 300 feet of dock space

Miami /
Jul.July 08, 2020 02:30 PM
Waterway Café (Facebook)

Waterway Café (Facebook)

The popular Waterway Cafe with its floating bar in Palm Beach Gardens sold for $12.5 million.

Lake Worth Creek Corp. led by Thomas Smith and Edith Stevenson of Delray Beach, sold the 8,762-square-foot restaurant property at 2300 PGA Boulevard for $1,426 per square foot, records show.

Worth River LLC, led by Scott and Jill Yates of Palm Beach Gardens purchased it.

The Waterway Cafe was built in 1986 by real estate developer Jefferson Vander Wolk, on the site of the former Waterway Marina on the Intracoastal Waterway, according to its website. It features a floating boat bar and has over 300 feet of dock space.

The property last sold for $1.2 million in 1985, records show. The site spans 3.05 acres.

There have been few South Florida restaurant property sales in light of the coronavirus pandemic that has led some eateries to close down and others to reduce staffing. This week, Miami-Dade County Mayor Carlos Gimenez again ordered restaurants to close their indoor dining rooms, effective Wednesday.


Related Articles

arrow_forward_ios
From left: 12034 Corozo Court in Palm Beach Gardens and William Weisberg (Photos via Providence Equity; ADHQ; Redfin)
Planet Fitness and Smoothie King operator sells Palm Beach Gardens home for $5M
Planet Fitness and Smoothie King operator sells Palm Beach Gardens home for $5M
Serena Williams with 7703 Bold Lad Road and 6431 River Pointe Way (Getty, Google Maps)
Serena Williams sells Palm Beach Gardens home after buying Yadier Molina’s Jupiter mansion
Serena Williams sells Palm Beach Gardens home after buying Yadier Molina’s Jupiter mansion
Robert Lapidus and David Levinson with 333 Central Gardens Circle, Palm Beach Gardens (Getty, Central Gardens)
L&L founders pay $47M for Palm Beach Gardens apartments
L&L founders pay $47M for Palm Beach Gardens apartments
Olen Properties's Igor Olenicoff and Northwestern's John Schlifske with 4045 Central Gardens Way, Palm Beach Gardens (Getty, Twitter)
Olen Properties pays $80M for Palm Beach Gardens apartments
Olen Properties pays $80M for Palm Beach Gardens apartments
The Palm Beach Gardens office towers
DiVosta family sells Palm Beach Gardens office towers for $80M
DiVosta family sells Palm Beach Gardens office towers for $80M
12251 Tillinghast Circle and Elin Nordegren (Credit: Google Maps and Gustavo Caballero/Getty Images)
Tiger Woods’ ex-wife buys Palm Beach Gardens home
Tiger Woods’ ex-wife buys Palm Beach Gardens home
Jack Niklaus and a rendering of the Panther National Clubhouse (Getty)
Jack Nicklaus to design golf course at Avenir in Palm Beach Gardens
Jack Nicklaus to design golf course at Avenir in Palm Beach Gardens
Jeff Bezos and 700 Lincoln Road (Getty, Lincoln Road BID)
Amazon to open store on Lincoln Road
Amazon to open store on Lincoln Road
arrow_forward_ios

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

Loading...