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

Miami /
Jul.July 22, 2020 10:36 AM
920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

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.


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