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Palm Beach homes: Prices of townhomes at old Charley’s Crab site top $23 million

Posted On: 12-26-2018

The Frisbie Group has set prices for the four ultra-luxury townhouses the company is planning to develop on speculation at the site of the now-demolished Charley’s Crab restaurant at 456 S. Ocean Blvd. on Midtown Beach.

Prices range from just under $25 million to $23.75 million, according to the listings in the Palm Beach Board of Realtors Multiple Listing Service.

The same developer also has priced at $18.5 million a four-bedroom spec house it plans to build next door at 101 Gulfstream Road.

Each five-bedroom townhouse in the Mediterranean-style development affords views of the ocean, with windows on three sides. Because of the unusually high elevation of the site, the units will have finished basements measuring about 2,450 square feet each. Each townhouse also will have a private pool.

The two corner units — at Gulfstream Road and Hammon Avenue — are the most expensive, at $24.95 million each. With 8,844 total square feet, the northernmost townhouse includes a pool area with the same footprint a private park that used to occupy the same land.

The southernmost townhouse is slightly larger overall, with 8,964 total square feet.

The middle units are both priced $23.75 million, each with a total of 8,964 square feet.

The basement in each townhouse includes a game room, wine room, exercise room and laundry room, according to the sales listings submitted by agent Suzanne Frisbie of Premier Estate Properties. She also is a principal with the Frisbie Group, which is based in Palm Beach.

The site measures nearly an acre and faces 280 feet of beachfront across the coastal road.

The Architectural Commission approved the project in October after several months of review, and Frisbie listed the units for sale late last month.

Designed by architect Roger Janssen of Dailey Janssen Architects, the architecture will feature stucco exteriors, cast-stone decorations, tapered chimneys, cypress balconies and red barrel-tile roofs.

Each of the townhouses will have a different look “but will read as an entire composition overall,” Janssen told the architectural board.

In April, the Frisbie Group paid a recorded $26.3 million for the property, which included the adjacent vacant lot, measuring a third of an acre, on Gulfstream Road.

A few days before the sale, Charley’s Crab closed down after nearly 40 years in business in the building it leased.

In September, the architectural board approved the Frisbie Group’s plans for the spec house for the Gulfstream Road property, immediately west of the townhouse project.

Frisbie’s sales listing for the two-story house shows it will have 8,548 total square feet. Its 2,100-square-foot basement has similar features as the basements in the townhomes.

The layout includes a living room, dining room, family room and a well-equipped kitchen, the listing says. With a loggia, the pool area will have a whirlpool spa and a summer kitchen.

Janssen also designed the house, with clean-lined, Mediterranean-style architecture.



Source: Darrell Hofheinz, December 26, 2018, Palm Beach Daily News

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