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Polmer Park house built in 1973 sells for $11.89 million

Posted On: 12-14-2015

After paying $5 million in August for a condominium in Il Lugano, Barbara R. and Ira A. Eichner have parted with their longtime estate at 301 Polmer Park for $11.39 million, according to the deed recorded Wednesday.

Two trusts associated with the Eichners sold the five-bedroom house on the North End to a New York City-based trust.

The New York trust is identified on the deed as the Bracxa Palm Beach Trust 2015, with the address of a cooperative apartment on East 66th Street on New York City’s Upper East Side. The apartment has been linked to the Brenda and Carlin Axelrod Foundation in charity and other public records.

Kenneth Askenase serves as trustee of the trust that bought the house.

The Eichners paid $2 million for the Polmer Park property in 1988, property records show.

In June, broker Christian Angle of Christian Angle Real Estate listed the estate for sale at $13.95 million. He declined to comment, and the Eichners couldn’t be reached.

The house has 8,473 square feet of living space, inside and out, with a tennis pavilion, lushly landscaped gardens and a swimming pool and cabana.

Agent Betsy S. Green of Douglas Elliman represented the buyer, according to the Palm Beach Board of Realtors Multiple Listing Service. Green also couldn’t be reached.

The house was built in 1973 by the late Robert W. Gottfried in his signature architectural style, which is known today as Gottfried Regency. The style borrowed and adapted classically inspired architectural elements from the English Regency style. Gottfried houses typically feature flat roofs, generously sized rooms and abundant windows that bring in natural light and showcase views.

On the northwest corner of North Lake Way, the house stands on a lot measuring a little less than an acre. Gottfried developed several homes on Polmer Park, five blocks south of the Palm Beach Country Club.

With longtime ties to the Chicago area, Ira Eichner retired in 2005 as chairman from AAR Corp., which he had founded under a different name. The company provides aviation services to commercial and military airplanes.

A search Wednesday of New York City real estate listings showed that the buyer’s address is for sale through Douglas Elliman agent Richard Steinberg in an exclusive listing. Built in 1907, the three-bedroom unit is priced at $9.95 million.

This summer, the Eichners bought their three-bedroom condo, No. 4B, at Il Lugano from Richard P. and Carole Crystal. Angle orchestrated that off-market deal at 300 Seminole Ave.

The Crystals are building a custom home on a lot they bought in July for $5.1 million from homebuilder Dan Swanson and his wife, Karen. Sotheby’s International Realty agent Fern Fodiman was said to be involved in that transaction.

The deed for the Polmer Park house lists Barbara Eichner as successor trustee of a family trust “established under” a personal residence trust in her husband’s name. That trust owned 50 percent of the house. The other half was split among Shelly L. Ettinger of Palm Beach Gardens; and Leslie J. Storch and Felicia J. Levin, both of Highland Park, Ill. The three served as successor co-trustees of a family trust in Barbara Eichner’s name.

Source: Darrell Hofheinz, December 14, 2015, Palm Beach Daily News

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