Kenneth Grunley, CEO of Grunley Construction, bought a waterfront home in Jupiter’s gated Admirals Cove community for $15.3 million.
Records show Grunley bought the house at 112 Quayside Drive from Russell and Patricia Stern.
Michele and Fredrick Locke with Fine Living Realty of the Palm Beaches had the listing, and Janis Lax with Waterfront Properties & Club Communities brought the buyer.
Grunley heads his namesake Rockville, Maryland-based construction firm. It is one of the largest general contractors in the Washington, D.C. area, and specializes in government, commercial and institutional buildings. Grunley has performed renovation and modernization work on some of D.C.’s most iconic structures: the Eisenhower Executive Office Building, the Washington Monument, the Thomas Jefferson Memorial, the Kennedy Center for the Performing Arts, and the Watergate Hotel, to name a few.
Russell Stern heads The Alternative Board (TAB) Jupiter, a business coaching firm. He was previously CEO of Solarflare Communications, a semiconductor developer that Santa Clara-based AMD (formerly Xilinx) bought for $400 million in 2019, according to published reports.
The Sterns bought the 0.4-acre waterfront Admirals Cove property for $2.2 million in 2019, according to property records. The home was built in 2021, and spans 6,500 square feet with five bedrooms, five bathrooms, two half-bathrooms, a pool and 100 feet of waterfront with a dock, records and the listing show.
It hit the market in July for $17 million, according to Zillow.
Admirals Cove is a gated luxury community that has attracted high-profile buyers over the years. Donald Trump Jr. and his now ex-fiancée Kimberly Guilfoyle bought a $9.7 million mansion in 2021. Blue Jays pitcher Max Scherzer owns two homes in the community; he spent a combined $24.7 million acquiring them. Last year, BlackRock executive Rick Rieder sold his Admirals Cove mansion for $14 million. In November, seed magnate Ronald Holden sold his 1.1-acre estate for $34 million, then a record price for Jupiter.
Edward Brown, retired CEO of Patrón Spirits, sold his Bears Club mansion for $48 million in February, making it the most expensive home ever sold in Jupiter and inland Palm Beach County.