The former chairman of Chicago energy utility giant Exelon sold his renovated Bear’s Club mansion in Jupiter for $15 million.
Property records show Bearhaven Land Trust, with Mayo Shattuck as beneficiary, sold the estate at 190 Bears Club Drive to Kathryn Goddu. Philip DiComo, a Palm Beach attorney, signed as trustee for Shattuck.
Mark Griffin of Bear’s Club Sotheby’s International Realty had the listing. James Kenny of K2 Realty brought the buyer.
Goddu is the wife of Roger Goddu, a senior advisor at Los Angeles-based private equity firm Brentwood Associates. Most of Roger Goddu’s career has been as a retail executive. His Brentwood Associates profile notes previous stints at Toys “R” Us and Target, and current positions on the boards of Boston Proper and J.McLaughlin.
Shattuck bought the 9,153-square-foot, six-bedroom, six-bathroom mansion in 2018 for $7.4 million, according to records. The property spans 1.3 acres in the Bear’s Club, an exclusive private golf community masterminded by famed course designer Jack Nicklaus. The estate includes a pool and wine room, and backs up to the seventh and eight holes on the Bear’s Club course.
The home was originally built in 2007, and Griffin said the seller recently completed an extensive renovation.
“It wasn’t done for speculative purposes, they did it for themselves,” Griffin said.
Griffin said the seller bought another property in Jupiter, and will remain as a member of the Bear’s Club.
Shattuck retired in February as chairman of Exelon, the nation’s largest utility company, serving more than 10 million customers, according to its website. The Washington Post profiled Shattuck in 2006, saying he is “the kind of guy put on earth to run companies and make multibillion-dollar deals.” Shattuck split from his second wife, Molly Shattuck, the oldest cheerleader in NFL history, in 2014, after she was arrested for sexually assaulting a minor. She was convicted of rape in 2015 and served 48 weekends in a Delaware community corrections center, the Baltimore Sun reported.
Pandemic migration brought a population boom to Palm Beach County and boosted demand for luxury real estate. North County, which includes Jupiter, Juno Beach, and Palm Beach Gardens, has long been a hub for the golf-obsessed, as it is the site of PGA National Resort and the Trump National course. In recent months, it has drawn the attention of buyers looking for an alternative to Palm Beach’s extreme prices.
Nevertheless, Griffin said properties in Bear’s Club rarely sell. Founded in 1999, the community sits on 400 acres, but only has 63 estate-sized homes, most of which are still owned by the original buyers.
“It’s rare for there to be more than two or three homes on the market,” Griffin said. That inventory squeeze serves as a deterrent for sellers, who feel at risk of not finding a new place, he added.
Read more
Residential
South Florida
Palm Beach Gardens mansion flips for record $22.5M, doubling in price in a year
Residential
South Florida
Real estate developer buys Bear’s Club mansion in Jupiter for record $11M
Other parts of North County have broken through the gridlock. Two Palm Beach Gardens mansions recently flipped, landing among South Florida’s biggest flips of this year to date. A New York-based hedge funder bought a double lot in the Old Palm Golf Club for a record $22.5 million, and local developers Robert and Myron Miller bought a 1.4-acre waterfront estate for $11 million. They immediately relisted the property for $13.9 million.
The Corcoran Group also recently opened an office in Palm Beach Gardens to focus on North County, including Jupiter.