The CEO of Planet Fitness, one of the largest exercise franchise companies in the country, bulked up with the $10.5 million sale of his waterfront South Florida estate.
Via a trust managed by Michael Bass, Planet Fitness CEO Chris Rondeau and his wife, Michelle Rondeau, sold their three-story Delray Beach mansion at 978 Gardenia Drive to a trust, property records show. The buyer is a tech CEO from the Northeast, according to their agent, Courtney Fuhrmann of Waterfront Properties and Club Communities. She declined to provide the tech CEO’s name.
978 Gardenia Drive in Delray Beach (Realtor)
The seven-bedroom, nearly 17,000-square-foot home sits on a double-corner lot and was built in 2003. The Mediterranean-style mansion has nine full baths and five half-baths, a pool, cabana and dock with 230 feet of water frontage, according to the listing and property records.
The buyer’s trust, managed by Carol Pugliese, financed the purchase with a nearly $7.5 million loan from FBC Mortgage, records show.
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The property hit the market in April for about $11.5 million with John Poletto of One Sotheby’s International Realty, according to Realtor.com. It previously sold for close to $9.6 million in 2012, and the couple transferred ownership to a trust about two years ago.
Chris Rondeau has been CEO of Planet Fitness since January 2013, and was COO before that, a role he held for a decade. Rondeau began working for Planet Fitness in 1993, a year after it was founded, according to his bio. The company now has more than 2,000 locations.
Other recent high-priced deals in Delray Beach include the $34 million sale of the mansion at 855 South Ocean Boulevard in October, as well as the nearly $22 million sale of the estate at 1111 South Ocean Boulevard this summer.