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Frisbies planning another spec house on the inlet in Palm Beach

Posted On: 09-01-2016

By Darrell Hofheinz

Daily News Staff Writer

Turns out the ever-busy Frisbie real estate family was, indeed, behind that $9 million purchase this summer of a North End house facing the inlet at 1610 N. Ocean Blvd. The Frisbies are planning to develop a new house there on speculation with a still-to-be-determined price tag.

When the sale closed in June, Corcoran Group real estate agent Suzanne Frisbie, who is about as discreet as they come, wouldn’t confirm if her family has an ownership interest in the property, which has 131 feet of inlet frontage. The deed listed the buyer only as a limited liability company managed by a real estate attorney. Frisbie handled the buyer’s end of the sale.

But at last week’s meeting of the Architectural Commission, the Frisbie family emerged as the owner/developer of a six-bedroom “island colonial”-style house officials greenlighted for the property.

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The Frisbies know the neighborhood well, having recently developed two houses with similar architecture on adjacent lots immediately west of 1610 N. Ocean Blvd. The family uses one of those houses, at 219 Indian Road, as a personal residence. The larger house, at 225 Indian Road, was developed on speculation and sold for a recorded $32 million in April while still in construction.

The Frisbies’ new project will replace a 1977 Palm Beach Regency-style house that had been owned by trust linked to the estate of the late New York City real estate businessman Seymour Cohn. Broker Christian Angle of Christian Angle Real Estate was on the seller’s side of the negotiating table opposite Frisbie two months ago.

At the Architectural Commission’s Aug. 24 meeting, Suzanne Frisbie and her husband, real estate investor David Frisbie, sat behind architect Roger Janssen of Dailey Janssen Architects as he described the two-story house, which got approved in a 5-2 vote. The design features two guest rooms over a pair of garages that flank the main entrance. In all, the residence will have 10,184 square feet and occupy an L-shaped lot of 37,178 square feet.

Commissioners deferred the landscaping plan until Sept. 28 amid privacy issues raised by neighbors.

David Frisbie works with his brothers, Rick and RobertFrisbie, on real estate projects, and Robert’s daughters, Katie and Franny Frisbie, are involved.

 

 

 

Source: Darrell Hofheinz, September 1, 2016, Palm Beach Daily News

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