The Frisbie Group plans to develop as many as five townhouses in Palm Beach on a former restaurant site the firm just bought for $26.3 million.
Palm Beach-based Frisbie Group last week bought the 1.2-acre property with 280 linear feet along the ocean, where a Charley’s Crab restaurant closed April 2.
BCD Investors sold the restaurant property and its parking lot, plus a vacant lot adjacent to the parking lot, where The Frisbie Group wants to build a single-family house.456 South Ocean Boulevard
The site of the closed Charley’s Crab, 456 South Ocean Boulevard, has been a restaurant location since the 1920s, predating the formation of a residential zone in the Midtown section of Palm Beach.
The restaurant site was “grandfathered” into the residential zone, but the size of the site is unalterable under town zoning rules. Photo is of 456 South Ocean Boulevard in Palm Beach credited to Google / Redfin.[Palm Beach Daily News] – Mike Seemuth
For more details from The Real Deal Miami, visit https://therealdeal.com/miami/2018/04/15/up-to-five-townhouses-may-replace-oceanfront-restaurant-in-palm-beach/
