Anheuser-Busch heir buys Palm Beach manse for $11M
Home sold for 35% less than original $17.5M asking price.
The heir of a major beer company just brewed up a sweet deal on a Palm Beach mansion.
Property records show Robert R. Hermann Jr., the president and CEO of one of the largest private employers in St. Louis, just paid $11.3 million for a recently renovated mansion at 210 El Vedado Road.
Hermann Jr. heads the Hermann Companies. He is also an heir of the late beer magnate August A. Busch Jr., who was responsible for building up the Anheuser-Busch brewery in the 1950s.
Property records show Hermann Jr., who is listed as a trustee of the Robert R. Hermann Family Trust, bought the 12,600-square-foot mansion from investment manager William A. Dunn and his wife, Rebecca. The trade breaks down to about $895 per square foot.
The Dunns paid $8.8 million for the property in 2006, records show. They listed the eight-bedroom, eight-bathroom home a decade later for $17.5 million. The asking price was reduced in December to $14.2 million, according to Realtor.com.
Features include french doors, a courtyard, fireplace, a three-bay garage, staff quarters and a separate guest house.
Hermann joins his family member Peter Busch Orthwein, who over the summer bought a home in Palm Beach for nearly $6 million. Other beverage execs to call South Florida home include Edward M. Brown, president and CEO of the Patrón Spirits Company; and CEO of Reyes Beverage Group David “Duke” Reyes.