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Cable mogul buys waterfront Palm Beach home for $16M
The buyers are Jeffrey and Nicola Marcus, who recently sold their Palm Beach estate to Bon Jovi
The couple who sold their Palm Beach estate to Jon Bon Jovi paid $16 million for another waterfront home in the ritzy town.
Jeffrey and Nicola Marcus sold their Palm Beach estate to Bon Jovi for $43 million, and bought a house at 920 North Lake Way, records show.
Molly and Patrick Ryan, CEO of a healthcare consulting firm, sold the home, three years after buying it. The Ryans sold the 7,108-square-foot house for $2,250 per square foot, according to records.
Jeffrey Marcus is a cable television mogul who founded Marcus Cable Co., one of the largest privately owned cable companies, serving 1.25 million subscribers in 17 states, before he sold it to Microsoft co-founder Paul G. Allen in 1998, according to cablecenter.org. In 2004, Marcus formed New York-based private equity firm Crestview Partners, and serves as vice chairman.
Built in 1976, the home features a first-floor master suite and two first-floor guest rooms, along with five upstairs guest rooms. It also features a pool and cabana overlooking the lake. In total, the home has eight bedrooms and seven-and-a-half bathrooms.
The Ryans purchased the property in April 2017 for $12.9 million, records show.
Patrick Ryan joined Press Ganey as CEO in early 2012. South Bend, Indiana-based Press Ganey is a consulting and advisory firm to more than 41,000 healthcare facilities, according to its website.
Last week, Marcus sold the seven-bedroom, 10,232-square-foot mansion at 1075 North Ocean Boulevard to Bon Jovi for $43 million. Marcus paid $23.2 million for that Palm Beach home in 2014.