UPDATED, July 5, 5:40 p.m.: A trust controlled by two members of the Coleman family paid $17.3 million for a waterfront estate on Palm Beach’s Everglades Island.
Property records show C. Payson Coleman, senior counsel at Pillsbury Winthrop Shaw Pittman, and Avery Coleman Keller, an executive director at Morgan Stanley, control the 555 Island Drive Trust that closed on the home at 555 Island Drive in Palm Beach.
A prominent member of the family is C. Payson Coleman III, the founder of Tiger Global Management, a tech-focused hedge fund, who is worth about $3.1 billion, according to Forbes. Coleman III is the son of C. Payson Coleman and brother of Avery Coleman Keller.
Mary Brittain Bardes, a local artist and socialite, sold the six-bedroom, 7,424-square-foot house.
The Bermuda-style home, with 175 feet of waterfront, a pool, spa, wine room and atrium, was renovated in 2008 by Palm Beach architect Tom Kirchoff, according to the listing.
Crista Ryan of Tina Fanjul Associates and Liza Pulitzer and Whitney McGurk of Brown Harris Stevens had the listing. Pulitzer and McGurk also brought the buyer.
Bardes acquired title to the property in 2003 as Mary Brittain B. Cudlip and transferred ownership to a trust under her name in 2012. Bardes’ father was Charles Cudlip, a lobbyist during the Nixon, Reagan and Bush administrations in Washington, D.C.
Palm Beach has been teeming with high-end home sales over the past week. On Friday, the estate of the late Terry Allen Kramer sold the property at 1295 South Ocean Boulevard in Palm Beach for more than $110 million, including commissions, marking the most expensive single-family home sale ever in Palm Beach County. Days later, Philadelphia attorneys and charter school moguls Vahan and Danielle Gureghian sold their custom-built mansion at 1071 North Ocean Boulevard for more than $40 million.