Wealthy St. Louis businessman sells Palm Beach mansion at a loss

The family trust of Robert R. Hermann Jr., the CEO of one of the largest privately-owned companies in St. Louis, sold a waterfront Palm Beach mansion at a loss.

Hermann’s trust sold the 6,874-square-foot home at 534 Island Drive for $12.54 million to the trust of Richard E. Salomon, the president of investment firm Mecox Ventures and vice chairman of the Council on Foreign Relations. The price equated to $1,824 per square foot.

Hermann’s trust paid $13.03 million for the property in July 2016.…

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