T
he Palm Beach home of Jerry and Elaine Schuster has been sold for $42.5 million, a significant discount from its original listing price of $62.9 million two years ago. The property at 101 Jungle Road was listed by Christian Angle of Christian Angle Real Estate and sold through Margit Brandt of Premier Estate Properties. Although the new deed has not yet appeared in public records, sources confirm that Elaine Schuster's trust was responsible for the sale.

    Jerry Schuster founded Wingate Companies, a real estate development firm with properties across the Eastern United States. The couple were prominent philanthropists in Boston, supporting institutions like Harvard University and Brigham & Women's Hospital. They also had close ties to Bill and Hillary Clinton, with Elaine serving on various campaign committees and boards.

    The Jungle Road mansion was built in 1955 and spans 10,000 square feet, featuring six bedrooms, seven bathrooms, and four half-bathrooms. The property originally listed for $62.9 million in 2022 but underwent two price reductions before selling this month with a $20.4 million discount.

    The sale comes as the Palm Beach luxury market experiences a slower September due to seasonal resident absences and election-related uncertainty. Despite this, several high-end sales have closed recently, including the oceanfront estate of Leonard Riggio's family, which listed for $96 million in June, and Daren Metropoulos' purchase of Casa Amado for $148 million in June.