Bon Jovi pays $43M for oceanfront Palm Beach estate

He closed on the mansion the same day he sold his property for $19.8M down the street

TRD MIAMI /
Jul.July 20, 2020 05:00 PM
Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor)

Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor)

Rock star Jon Bon Jovi closed on an oceanfront mansion in Palm Beach for $43 million, after selling his home down the street for less than half of that.

The “Livin’ On A Prayer” artist acquired the seven-bedroom, 10,232-square-foot mansion at 1075 North Ocean Boulevard on the same day he sold the oceanfront home at 230 North Ocean Boulevard for $19.8 million, records show. Bon Jovi used the same LLC that sold the smaller home to purchase the larger one.

Christian Angle of Christian Angle Real Estate represented Bon Jovi in both deals, as well as the seller of 1075 North Ocean Boulevard, according to Realtor.com.

The seller of the larger estate is Jeffrey A. Marcus, a cable television mogul. Marcus sold his company to Microsoft co-founder Paul Allen in 1998 and then became president and CEO of the second largest radio company in the U.S., according to his bio. He later joined a private equity firm called Crestview Partners.

Marcus paid $23.2 million for the Palm Beach home in 2014, according to property records. The mansion, built in 2007, features a courtyard pool and cabana, exercise room, wine cellar, elevators, a three-car air conditioned garage, and two oceanfront loggias, according to the listing. It sits on a 0.66-acre lot.

On Friday, Bon Jovi and his wife Dorothea Hurley sold the new 5,024-square-foot home at 230 Ocean Boulevard. The New Jersey native and lead singer of the rock band Bon Jovi had paid $10 million for that property in 2018, knocked down the previous house, and built a new one. The Shapiro Pertnoy Construction Group built the house.

Bon Jovi’s two high-priced deals add to what has been a very active luxury home sales market in Palm Beach in the past few months. The barrier island town experienced a jump in sales as a result of the coronavirus pandemic, with two properties fetching $70 million and up.


Related Articles

arrow_forward_ios
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
Seth Cohen and Phil Gutman

Brown Harris Stevens Miami launches sports and entertainment division

Brown Harris Stevens Miami launches sports and entertainment division
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
Rendering of 259 Pendleton Ave. with Jonathan Fryd, Todd Glaser and Scott Robins (Glaser by Mary Beth Koeth)

Todd Glaser, partners buy Palm Beach lot to build spec home

Todd Glaser, partners buy Palm Beach lot to build spec home
920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

Cable mogul buys waterfront Palm Beach home for $16M

Cable mogul buys waterfront Palm Beach home for $16M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...