Distinctive Palm Beach Properties
 
 
Zimmermans
 

Quick Search

 
 

Sale of Palm Beach home facing inlet tops $28 million

Posted On: 10-01-2018

A two-year-old house facing the inlet at the northern tip of Palm Beach has changed hands for $28.63 million in an off-market sale, according to a deed recorded today.

The house at 219 Indian Road was developed by the Frisbie Group real estate investment company and was home to one of its principals, Robert Frisbie Sr., and his wife, Kristine “Kim” Frisbie. They have moved next door into a never-lived-in house also developed by Frisbie Group.

The Frisbies signed the deed of sale for No. 219 along with Robert Frisbie’s two brothers as co-owners — Richard D. Frisbie of Hobe Sound and David W. Frisbie of Palm Beach.

They sold the house to West Palm Beach attorney Paul A. Krasker as trustee of a land trust named after the property’s address. No other information about the buyer’s side of the sale was immediately available in public records.

Robert and Kim Frisbie’s new home was completed earlier this year at 1610 Indian Road, immediately east of the one that just sold, Robert Frisbie said. No. 1610 is one of three side-by-side houses developed over the past five years by the Frisbie family. All were designed with West Indies-inspired architecture by architect Roger Janssen of Dailey Janssen Architects.

Immediately west of No. 219, house at 225 Indian Road was sold by Frisbie Group in 2016 while under construction for $32 million and is back on the market, priced at just under $35 million.

The house that changed hands this week has six bedrooms and about 12,000 square feet of living space, inside and out. It stands on about an acre and is the third house west of North Ocean Boulevard. Its layout features an oceanview dining room and a family room open to the kitchen on one side and an outdoor dining loggia on the other. A broad lawn leads from the swimming pool to the waterfront’s private beach and dock.

Corcoran Group agent and Frisbie Group principal Suzanne Frisbie confirmed that she handled both sides of the sale. She is married to David Frisbie.

Robert and Kim Frisbie had the house homesteaded in the Palm Beach County tax rolls.

The Frisbie family bought the properties at Nos. 225 and 219 in November 2013. The Frisbies were represented in both sales by Suzanne Frisbie.

Agents Pamela Gottfried and the late Mel Kane of Douglas Elliman Real Estate represented the estate of the late society photographer Mort Kaye when his longtime home at No. 219 sold for $4.465 million nearly five years ago. And Corcoran agents Steve J. Davis and Jim McCann acted on behalf of Alicia and William Blodgett when they sold their home at No. 225 for about $8.83 million.

The Frisbies reapportioned the lots and designed the two homes to take advantage of their dramatic water views of the inlet, the Intracoastal Waterway and Peanut Island.

Palm Beach-based Frisbie Group bought the property at 1610 N. Ocean Blvd. in June 2016 for $9 million. Suzanne Frisbie was on the buyer’s side opposite broker Christian Angle of Christian Angle Real Estate. Angle represented the seller, a trust linked to the estate of the late New York City real estate businessman Seymour Cohn.

The Frisbie family has built speculative homes in Palm Beach for more than 20 years. Their latest project in Palm Beach is a four-townhouse development planned for 456 S. Ocean Blvd., on the site of the closed Charley’s Crab restaurant. That speculative project is under review by the Architectural Commission, which last week deferred the design for a month for restudy. The company bought the property for $26.3 million in April.

On Wednesday, the commission gave Frisbie Group final approval for its plans to develop on speculation a single-family house designed for a lot at 101 Gulfstream Road, immediately west of the townhouse project.

In late October 2017, Frisbie Group bought a nearby office-and-retail building at 125 Worth Ave. for a recorded $30.7 million in the ocean block of the Avenue. The company is headquartered there.

Frisbie Group also is redeveloping the former Testa’s Restaurant property at 221 and 231 Royal Poinciana Way in partnership with The Breakers. Construction is underway on a mixed-use project that will include at least one restaurant, shops and six luxury condominiums.

 

 

Source: Darrell Hofheinz, October 1, 2018, Palm Beach Daily News

News Categories

Zimmerman Douglas Elliman

340 Royal Poinciana Way, Suite 318
Palm Beach, FL 33480

Jacqueline A. Zimmerman (561) 906-7153 Direct jz@PalmBeachProperty.com

Adam M. Zimmerman (561) 906-7152 Direct az@PalmBeachProperty.com

(561) 655-8600 Main Office

 
www.DistinctivePalmBeachProperties.com

The Definitive Source for Palm Beach Real Estate

Jacqueline A. Zimmerman(561) 906-7153pAdam M. Zimmerman(561) 906-7152pMain Office(561) 655-8600
Douglas Elliman, Licensed Real Estate Broker | 340 Royal Poinciana Way, Suite 318, Palm Beach, FL 33480


house

Equal Housing Opportunity

Privacy Policy | Terms & Conditions

Copyright © 2017. All Rights Reserved

No warranty or representation, express or implied is made as to the accuracy of the information contained herin, and same is submitted subject errors, omission, change of price rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.