Five-bedroom Palm Beach home commands $11.39 million

Barbara R. and Ira A. Eichner sold their five-bedroom home Palm Beach for $11.39 million to a New York City-based trust.

Barbara and Ira Eichner bought the residence at 301 Polmer Park in the North End neighborhood of Palm Beach for $2 million in 1988.

The buyer, Braxca Palm Beach Trust 2015, is based at the address of a cooperative apartment on East 66 Street in Manhattan. Public records have linked the apartment to the Brenda and Carlin Axelrod Foundation.

Data published by the Palm Beach Board of Realtors Multiple Listing Service show that Betsy S. Green, a Douglas Elliman agent, represented the buyer of the Palm Beach home.

The home has 8,473 square feet of living space, indoors and outdoors, and features a tennis pavilion, a swimming pool and cabana, and lush gardens.

The late Robert W. Gottfried built the house in 1973 in his signature Gottfried Regency architectural style.

The Eichners appear to be downsizing. They paid $5 million in August for a three-bedroom unit at the Il Lugano condominium in Palm Beach.

Ira Eichner retired as chairman of aviation services provider AAR Corporation in 2005. [Palm Beach Daily News] — Mike Seemuth