The family of the late financier George Summers sold his Palm Beach house for $17.5 million, after it hit the market asking $24 million in August.
Records show Summers’ widow and children sold the house at 215 El Bravo Way to a trust named for the address and managed by local attorney Maura Ziska. The true buyer is unknown.
Christian Angle with Christian Angle Real Estate represented both the buyer and the seller.
Summers was a financier, real estate developer and cattleman, according to his obituary. He served as board president of the exclusive Everglades Club from 2014 until his death last year. His father was Maurice Summers, the former governor of the New York Stock Exchange, a director with E.F. Hutton and a real estate developer.
Summers bought the house for $2.2 million in 1993, according to property records. It was built on 0.4 acres in 1935, and designed by celebrated Palm Beach architect Howard Majors, according to the listing. The landmarked home spans 6,100 square feet, with four bedrooms, five bathrooms, one half-bathroom and a pool, records show.
The Summers family listed the house for $24 million in August, and dropped the asking price to $20 million in January, according to Zillow. Summers’ widow, Ann Summers, bought a condo on the island for $4 million that month, property records show.
The house on El Bravo Way marks the latest sale in Palm Beach real estate’s busy season. Earlier this month, frozen burrito inventor and hotelier Duane Roberts and his wife, Kelly Roberts, bought an oceanfront mansion for $48.5 million. Also this month, Hellman Jordan founder Jerry Jordan Jr. bought a house on the island for $15.2 million. In April, Andrew Farkas, chairman and CEO of commercial real estate-focused merchant bank Island Capital Group, sold his oceanfront mansion for $51.4 million.
