Historic Palm Beach Property Sells for $17.5 Million: A Look Inside the Landmark Residence
In a noteworthy real estate transaction, the historic family home formerly owned by investments adviser Peter Summers and his wife, real estate agent Ann Summers, has sold for $17.5 million. This iconic property, known for its rich history and prime location, is situated at 215 El Bravo Way in Palm Beach’s prestigious Estate Section.
Prime Location in Palm Beach’s El Streets
The house, originally constructed in the 1930s, is part of the renowned "El Streets" neighborhood, famed for its lavish architecture and historical significance. This area is also notable for being in close proximity to notable landmarks such as Mar-a-Lago, the residence of former President Donald Trump.
- Neighborhood Highlights:
- El Bravo Way, El Vedado Road, and El Brillo Way are celebrated for their elegant homes and easy access to shopping and dining options in Midtown Palm Beach.
Details of the Property Sale
The property transfer was recorded on May 14, revealing that a trust associated with the home’s address facilitated the sale. While West Palm Beach attorney Maura Ziska was listed as the trustee of the 215 El Bravo Trust, further details about the buyer remain undisclosed due to privacy regulations surrounding trusts.
Architectural Significance
The Monterey-style residence spans 7,366 square feet and includes six spacious bedrooms. Key features of the home encompass:
- Aesthetics: The main façade boasts a striking second-story cantilevered balcony with intricate ornamental railings.
- Landmark Status: Recognized for its historical value, the property was designated a landmark by the Town Council in March 2020. Originally owned by silent film star Norma Talmadge, the residence is celebrated for its architectural merit designed by esteemed architect Howard Major.
Property Features and Amenities
The luxurious home is set on a lot of two-fifths of an acre and has several inviting areas perfect for entertainment:
- Garden: Known for its beautiful landscaping that comes alive at night thanks to ambient lighting.
- Poolside Loggia: A covered area providing serene outdoor living, accessible through French doors.
- Living Spaces: Features include an oversized family room with a fireplace, a cabana room with a bar, and a formal dining room.
Ann Summers’ Transition
Ann Summers, who has been an active real estate agent with Brown Harris Stevens, plans to downsize following the sale. She has purchased a two-bedroom penthouse in a Midtown co-operative building for around $4 million.
Market Insights
The property was listed for sale at $23.95 million in late August 2024, with the price gradually reduced to $19.95 million by January. The transaction was handled by broker Christian Angle of Christian Angle Real Estate, who managed both sides of the sale.
Conclusion
With its blend of historical significance and architectural beauty, the sale of the property at 215 El Bravo Way adds to the allure of Palm Beach real estate. This picturesque home not only embodies the charm of the Monterey style but also serves as a valuable addition to the town’s landmark collection.
Explore more about Palm Beach real estate and similar historic properties through platforms like Zillow and Realtor.com for comprehensive listings and insights.