456 South Ocean Boulevard in Palm Beach (Credit: Google / Redfin)

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. [Palm Beach Daily News] Mike Seemuth

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