St. Louis-based Hermann family buys Palm Beach estate: $13M

Miami /
Jul.July 21, 2016 06:00 PM

The president and CEO of one of the largest private employers in St. Louis just spent $13 million on a waterfront Palm Beach estate.

Robert R. Hermann Jr., president, CEO and chairman of the Hermann Companies, bought the Everglades Island home at 534 Island Drive, records show. The Colonial-style home spans 6,874 square feet with four bedrooms and five bathrooms. It was built in 1961 but later renovated and includes a pool, home office, balconies, a dock and more than 150 feet of frontage on the Intracoastal.

Chris Deitz of the Fite Group represented the sellers, Harold F. Corrigan and Lorraine Corrigan. Corcoran’s Bradford Miller represented the buyer, according to Redfin.

Property records show the Corrigans paid $3.85 million for the two-story home in 2000. Harold Corrigan, a former managing director at Merrill Lynch, and his wife Lorraine Corrigan hired Smith and Moore Architects and Simmons Building to renovate the property, according to the Palm Beach Daily News. They first listed it for sale in 2010 with their son, James Corrigan, for $16.5 million. It went under contract in April after being listed again in January for just less than $16 million.

A trust in Hermann’s name purchased the property. Hermann Companies manufactures and markets plastic packaging products for foodservice retail and food processor industries, according to Bloomberg.

Everglades Island is a narrow island in between Palm Beach and West Palm Beach. Hermann’s new home overlooks the Everglades Golf Course.


Related Articles

arrow_forward_ios
South Florida residential sales rose in August, but single-family closings fell across the tri-county region. (iStock)
South Florida single-family home sales decline in August as inventory shrinks
South Florida single-family home sales decline in August as inventory shrinks
Todd Glaser flips office dev site to Palm Beach Jewish Center
Todd Glaser flips office dev site to Palm Beach Jewish Center
Todd Glaser flips office dev site to Palm Beach Jewish Center
Jason Capello and 1404 North Lake Way
Hedge funder shells out $31M for waterfront Palm Beach spec mansion
Hedge funder shells out $31M for waterfront Palm Beach spec mansion
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Clark Beaty sells oceanfront Palm Beach spec mansion for $64M
Jennifer Hyland joins Corcoran Group in Palm Beach
Jennifer Hyland joins Corcoran Group in Palm Beach
Jennifer Hyland joins Corcoran Group in Palm Beach
InVue CEO James Sankey and the lot at 125 EL Bravo Way (Google Maps)
North Carolina tech honcho buys Palm Beach mansion site for $15M
North Carolina tech honcho buys Palm Beach mansion site for $15M
The five bedroom Palm Beach mansion (Realtor via Douglas Elliman)
SafeCard Services founder sells Palm Beach home for $22M
SafeCard Services founder sells Palm Beach home for $22M
Samantha Curry and Holly Parker (Getty, Parker)
Top Douglas Elliman NY team expands to South Florida
Top Douglas Elliman NY team expands to South Florida
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...