Beer industry heir brews up a Palm Beach home deal for $5.7M
His paternal great-great-grandfather is Adolphus Busch, founder of Anheuser-Busch
Peter Busch Orthwein, co-founder and chairman of the recreational car manufacturer Thor Industries, just bought a $5.73 million home in Palm Beach, property records show.
His paternal great-great-grandfather Adolphus Busch was the founder of the beer industry giant Anheuser-Busch, now Anheuser-Busch InBev Worldwide Inc., the company behind the production, importation and distribution of well-known global brands like Budweiser, Stella Artois and Beck’s.
Orthwein’s new 5,500-square-foot home at 202 Garden Road sold for about $1,042 per square foot. Records show the six-bedroom, six-bathroom house sits on a third of an acre and was built in 1955.
Sotheby’s International Realty’s Susan Van Pelt represented Garden Road LLC, which lists Orthwein as its manager. Gregory Giuliano with The Fite Group Luxury Homes represented the seller, a Colorado-based Narang Family Partnership. Records show the entity bought the home in 2010 for $2 million, or $363 per square foot.
The Palm Beach house is a block away from the beach. It includes a sun terrace, a covered patio, a two car garage with a private entry and a pool. The home was recently renovated to include an elevator, impact windows and additional space, according to Realtor.com.
Last week, an oceanfront house at 1565 North Ocean Way in Palm Beach was sold by billionaire George Lindemann and his wife Frayda for $25.2 million. The home is than two miles north of Orthwein’s new home.
A colonial revival mansion, also along Ocean Boulevard, at 1102 North Ocean Boulevard sold to a trust for $20 million or $328 per square foot, earlier this month.