Distinctive Palm Beach Properties
 
 
Zimmermans
 
 

Deed: Busch heir’s trust pays $13 million for Everglades Island house

Posted On: 07-21-2016

By Darrell Hofheinz

Daily News Real Estate Writer

The northern end of Palm Beach's Everglades Island — lately a hot spot for real estate action — has seen yet another house over 50 years old change hands, thanks to a sale recorded today for about $13 million at 534 Island Drive.

Lorraine and Harold F. Corrigan sold the 1961 four-bedroom house, which they had remodeled and expanded with a 2,400-square-foot addition. With 8,674 square feet of living space, inside and out, the Colonial-style residence stands on a half-acre lot with 150 feet of frontage on the channel between Everglades Island and the Everglades Golf Course.

The buyer was Robert R. Hermann Jr., acting as trustee of the Hermann Family Trust, according to the $13.028 million deed recorded on the Palm Beach County Clerk’s website. He is chairman and CEO of The Hermann Cos. of St. Louis.

Hermann also is the grandson of the late August Anheuser Busch Jr., who grew his family’s beer manufacturer into an empire. His late mother was Lily Busch Hermann. The Hermann Cos. manufactures, through a subsidiary, plastic packaging products for the food-service retail and food-processing industries, according to Bloomberg.com.

The Corrigans bought the house for $3.85 million in 2000 from the late polo player Pedro G. Morrison, property records show. Harold Corrigan retired from Merrill Lynch and then testified in court proceedings as an expert witness on the investments industry through his firm, Candlewood Consultants Corp.

The house was listed for sale at just under $16 million by The Fite Group. The Corrigans were represented by agent Chris Deitz and their son, Jason Corrigan, also a Fite Group agent. The property had entered the market in late January and landed under contract about three months later.

Agents Pamela and Brad Miller of the Corcoran Group sat on the buyer’s side of the negotiating table.

Stately architecture

The house stands at the point where Island Drive curves toward the northernmost homes on the island.

The house is notable for its stately front porch with six two-story classical columns. A railed veranda runs the width of the main façade, accessing rooms on the second floor.

Similar architectural motifs are repeated at the rear of the L-shaped house, with first-floor loggias and second-floor verandas overlooking the pool area and manicured lawn.

The Corrigans chose a formal style for the interiors, with elaborate crown moldings and millwork, tray ceilings, a curved staircase in the foyer and a library-and-office paneled in dark wood.

The remodeling project was extensive, and the house remained in pristine shape, Jason Corrigan said. “If you walked though that house today, you would not believe (the work) had been done 16 years ago,” he said.

He had listed the house for sale in 2009 when he worked briefly for another agency and then re-listed it in 2010 with The Fite Group, according to the Palm Beach Board of Realtors Multiple Listing Service. But it had been off the market since June 2012.

The Corrigans are moving to Palm Beach Gardens, where they just closed on a house at 11765 Calla Lilly Court in Old Palm Golf Club. Jason Corrigan said he represented them in that sale opposite a Fite Group colleague, Linda Bright, who had the five-bedroom, 9,561-square-foot house built in 2013 listed at just under $3.4 million, according to MLS.

Since April, the north end of Everglades Island has seen two sales of houses built in 1955 at Nos. 520 and 561 Island Drive. Another house in the area, at 500 Island Drive, is under contract.

 


 

Source: Darrell Hofheinz, July 21, 2016, 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 © 2010. 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.