In the Press
2013 - 2017
December 3, 2017
One of the major developers in Palm Beach told the zoning board this week it’s time to face the challenges of a warming global climate and rising seas — a politically hot topic that has led to rising tensions in the past.
The Frisbie family, which is redeveloping the historic Testa site on Royal Poinciana Way, asked the Planning and Zoning Commission and town staffers Tuesday to look at the zoning code and consider changes to better protect the town from wind and water damage...
November 19, 2017
As Palm Beachers sit down to Thanksgiving dinner this year, gratitude will top the menu along with roasted turkey, cornbread stuffing and pumpkin pie... Islanders also can be thankful for the continuing rise in town property values. Big-ticket property sales include the recent $30.7 million purchase of a Worth Avenue office building by the Frisbie Group. The flip side is that hefty tax bills now top $1 million dollars for some property owners, but at least they are helping to fill the county’s coffers...
Thank you for continuing a very important conversation in the [Dec. 11, 2017] Shiny Sheet [Zoning to fight sea rise is urged]. For the benefit of those who didn’t have the opportunity to hear our presentation, Planning and Zoning invited us to speak on Nov. 28 to touch on a range of topics concerning the longevity and future well-being of our community...
October 31, 2017
Crocker Partners sold a landmark building on Palm Beach’s Worth Avenue for $30.7 million to Frisbie Group.
Frisbie plans to modernize the 50,000-square-foot Class A office building at 125 Worth Avenue with interior renovations, technological upgrades and new landscaping, according to a press release. It’s 83 percent leased to the Neiman Marcus Group, BB&T Bank, Ferretti Group and UBS.
HFF’s Hermen Rodriguez, Ike Ojala, Tracey Goo and Christina Kong represented Crocker Partners, and HFF’s Maxx Carney and Christian Griffith arranged the financing and represented the buyer.
It’s the first acquisition for the firm on Worth Avenue, managing director Robert Frisbie said. Nearby retailers include Gucci, Neiman Marcus, Saks Fifth Avenue and Ferragamo...
November 2, 2017
HFF completed the $30.7 million sale of a 50,017-square-foot, Class A office building in Palm Beach, Fla. Additionally, the HFF debt placement team secured $22.8 million in acquisition financing on behalf of the borrower/buyer.
The HFF investment advisory team represented the seller, Crocker Partners, and procured the buyer, Frisbie Group. According to public records, CIBC Bank USA provided the seven-year fixed-rate mortgage to facilitate the transaction...
October 31, 2017
Fresh from breaking ground on a major mixed-use project on Royal Poinciana Way, the Frisbie Group has expanded its Palm Beach real estate portfolio with a $30.7 million purchase of an office-and-retail building at the east end of Worth Avenue, the company has announced...
October 20, 2017
A recently launched — and very slick — website is promoting the charms of the newly named Royal Poinciana Palm Beach, the mixed-use redevelopment project that just broke ground at the east end of Royal Poinciana Way.
The website, RoyalPoincianaPalmBeach.com, includes information about Palm Beach’s historic Main Street and an animated video that shows what the development will look like when it’s completed in 2020. Floor plans of the six luxury condominiums to occupy the second floor also are featured.
October 19, 2017
At a time when some island residents worry about big developers and chain restaurants coming in and ruining the feel of the island, The Breakers buying part of the former Testa’s site is one of the best things that could happen, Palm Beach Chamber of Commerce Executive Director Laurel Baker said.
“I think it’s great,” she said. “It adds a new optimism to the redevelopment of the original Main Street. If anyone can make a success of it, it would certainly be The Breakers.”
The resort confirmed earlier this week that it has entered an agreement with the Frisbie Group to buy the site’s restaurant and retail space where the former Testa’s restaurant was once located...
The Breakers is planning to buy the ground floor of the mixed-use development being built on the former Testa property at the east end of Royal Poinciana Way, company CEO Paul Leone confirmed Monday.
The resort has entered into an agreement with the Frisbie Group to purchase the new development’s restaurant and retail space along with other ground-level amenities.
But the Frisbie Group, which is developing the two-story, six-building project, will retain ownership of the second-floor luxury condominiums to be built on the 1.3-acre site...
May 12, 2017
The Frisbie Group in Palm Beach is moving forward with its plan to re-do a group of fading buildings and empty space on Royal Poinciana Way, frequently referred to as the town’s Main Street.
Palm Beach approved Frisbie’s development plan last year, after five years of negotiations, and the group held a town-mandated meeting Thursday with neighbors of the project — both business and residential...
September 1, 2016
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...
June 12, 2016
Last week’s $10.25 million sale of four adjacent commercial parcels at the east end of Royal Poinciana Way and Sunset Avenue focused attention on one branch of the Saudi royal family and its longtime interest in quietly owning investment property in Palm Beach.
The buildings, including the one that houses Nick & Johnnie’s restaurant, were sold by a Florida corporation controlled by Saudi Prince Faisal Abdullah al Saud. He sold the properties by signing the deed recorded Thursday by the Palm Beach County Clerk’s office...
June 08, 2016
It’s official: the Frisbie family of Palm Beach has bought the Vesenaz site at the east end of Royal Poinciana Way for roughly $10 million. The deed recorded today. Ian Campbell, representative and property manager for Vesenaz, said the deal closed on Monday. The 0.8-acre Vesenaz property is divided into four parcels and borders the 1.3-acre Testa property, which the Frisbies own and plan to redevelop, to the west.
The Vesenaz property includes the buildings that house Nick & Johnnie’s restaurant, Evelyn & Arthur, the Classic Collections Boutique, Eyes on the Island, and The Palm Beach Book Store. The town has landmarked two of the buildings and the facade of a third...
June 2, 2016
The town’s northern gateway could see dramatic change if the owners of the historic Testa site on Royal Poinciana Way close their deal to buy the adjacent property on the east end of the iconic street’s commercial block.
The Frisbie family, which proposes to redevelop the Testa property, is poised to buy the 0.8-acre site that forms the east end of the block between Royal Poinciana Way and Sunset Avenue, sources familiar with the deal say.
The Frisbies reportedly have offered $10.35 million to Vesenaz Inc. for four parcels that include Nick and Johnnie’s restaurant, the Evelyn & Arthur clothing store, Eyes on the Island, the Palm Beach Book Store, Classic Collections boutique, a via and one apartment....
February 11, 2016
A new West Indies-style house facing the inlet at 225 Indian Road on the northern tip of Palm Beach has changed hands for $32 million, according to the deed recorded on the Palm Beach County Clerk’s website.
The buyer is a Florida limited liability company named 225 Indian Road Holdings LLC, listed on the deed with the address of the property. North Palm Beach attorney Curtis Shenkman is recorded as its manager in state business records. He signed a $15 million mortgage on the property with Bank of America on behalf of the company, courthouse records show...
November 22, 2013
It’s all about distinctive architecture – and how it relates to the site, according to the Frisbie family, which, over the years, has built a number of residential properties in Palm Beach, developed on “spec” without specific buyers in mind.
Take their previous residential project, an Italianate house facing the lagoon on the west end of Worth Avenue. With its three stories and narrow façade, it resembles nothing so much as a Venetian canal home.
This time around, their just-completed, $35.9 million house facing the lake in Midtown recalls the look of a stately Island Colonial-style governor’s mansion...