Foreign Property News | Posted by Zarni Kyaw
Rock star Jon Bon Jovi closed on an oceanfront mansion in Palm Beach for $43 million, after selling his home down the street for less than half of that.
The “Livin’ On A Prayer” artist acquired the seven-bedroom, 10,232-square-foot mansion at 1075 North Ocean Boulevard on the same day he sold the oceanfront home at 230 North Ocean Boulevard for $19.8 million, records show. Bon Jovi used the same LLC that sold the smaller home to purchase the larger one.
Christian Angle of Christian Angle Real Estate represented Bon Jovi in both deals, as well as the seller of 1075 North Ocean Boulevard, according to Realtor.com.
The seller of the larger estate is Jeffrey A. Marcus, a cable television mogul. Marcus sold his company to Microsoft co-founder Paul Allen in 1998 and then became president and CEO of the second largest radio company in the U.S., according to his bio. He later joined a private equity firm called Crestview Partners.
Marcus paid $23.2 million for the Palm Beach home in 2014, according to property records. The mansion, built in 2007, features a courtyard pool and cabana, exercise room, wine cellar, elevators, a three-car air conditioned garage, and two oceanfront loggias, according to the listing. It sits on a 0.66-acre lot.
On Friday, Bon Jovi and his wife Dorothea Hurley sold the new 5,024-square-foot home at 230 Ocean Boulevard. The New Jersey native and lead singer of the rock band Bon Jovi had paid $10 million for that property in 2018, knocked down the previous house, and built a new one. The Shapiro Pertnoy Construction Group built the house.
Bon Jovi’s two high-priced deals add to what has been a very active luxury home sales market in Palm Beach in the past few months. The barrier island town experienced a jump in sales as a result of the coronavirus pandemic, with two properties fetching $70 million and up.
Ref: The real deal
