The Real Deal Miami

Gannett heirs sell Palm Beach County house to Gary Nicklaus

Jack's son pays $2.5 million for waterfront property in Tequesta

November 14, 2014 12:00PM
By Eric Kalis

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18812 Rio Vista Drive

18812 Rio Vista Drive

Former professional golfer Gary Nicklaus – son of Jack – purchased a waterfront home in Palm Beach County from Gannett family descendants for $2.5 million, The Real Deal has learned.

Nicklaus purchased the four-bedroom, 4,700-square-foot house at 18812 Rio Vista Drive in Tequesta, according to Palm Beach County records. The five-bathroom residence was constructed in 1998. The transaction was recorded last week.

Northern Trust gave Nicklaus and his wife Amy a 30-year loan that covers the entire purchase price. The mortgage has a fixed interest rate until December 2021, when it will change to an adjustable rate, according to mortgage documents.

The sellers are Karen Gannett of Fort Lauderdale and Frank Gannett of Steamboat Springs, Colo. They paid about $2.7 million for the property in July 2009.

Nicklaus was a member of the PGA Tour for three years. His brother Steven paid $1.1 million for a Palm Beach County home about two weeks before selling another property for $8.3 million during the summer.

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