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House on Palm Beach’s Everglades Island fetches more than $12 million

Posted On: 06-05-2018

An heir to the Anheuser Busch family has sold his house on Everglades Island for about $500,000 less than he paid for it in 2016, when he bought it for a little over $13 million.

Robert R. Hermann Jr. acted as trustee of the Hermann Family Trust in the sale of 534 Island Drive in a transaction recorded today at about $12.538 million by the Palm Beach County Clerk’s office.

The Palm Beach deed shows investments advisor Richard E. Salomon bought the four-bedroom house built in 1961. With 8,674 square feet of living space, inside and out, the Colonial-style residence stands on a half-acre lot with more than 150 feet of frontage on the channel between Everglades Island and the Everglades Golf Course.

It’s been a busy few days, real estate wise, for the Salomon family. Salomon’s son, David Salomon, this week also bought a house in Palm Beach, paying about $6.16 million for 229 Ridgeview Drive across town on the North End.

Hermann and his wife, Signa, own another Palm Beach house, which they are renovating. In February, Hermann — acting as trustee of his family trust — paid $11.29 million for 210 El Vedado Road in the nearby Estate Section, according to property records. That eight-bedroom Venetian-style villa has 12,623 square feet of living space, inside and out.

Agents Brad and Pamela Miller of the Corcoran Group represented Hermann in both transactions. Hermann is chairman and CEO of The Hermann Cos., a St. Louis holding company that manufactures, through its Anchor Packaging subsidiary, plastic packaging products used by food-service retailers and the food-processing industry, according to Bloomberg.com. Hermann is the grandson of the late August “Gussie” Anheuser Busch Jr., who grew his family’s beer manufacturer into an empire.

Richard E. Salomon is managing partner of East End Advisors, a New York City investment firm, and the former chairman of Mecox Ventures, a private investment company, according to an online biographical sketch. Salomon served as a senior advisor to the late David Rockefeller and has advised other high net-worth families on investment strategies. His resume also includes serving as chairman of the advisory board of Blackstone Alternative Asset Management Group.

His son, who has a home in Greenwich, Conn., is a managing member of East End Advisors. The house David Salomon just bought on Ridgeview Drive was completed in 2014 with four bedrooms and a total of 4,756 square feet of living space.

Corcoran Group agents Paulette Koch and Dana Koch handled the buyer’s side of the house on Island Road and the house on Ridgeview Drive. Dana Koch declined to comment about either sale.

Broker Christian Angle of Christian Angle Real Estate acted on behalf of the Ridgeview Drive seller, Dr. Maurice Belkin. He couldn’t be reached.

Richard Salomon and David Salomon couldn’t be reached.

The Millers listed the house on Island Drive for sale at just under $18 million in August 2016, about a month after Robert Hermann bought it. The price was later dropped to $16.9 million and then again to $15.9 million. Brad Miller declined to comment about the Everglades Island sale.

 

 

Source: Darrell Hofheinz, June 5, 2018, Palm Beach Daily News

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