Planet Fitness co-founder sells Jupiter Mansion for $15 million
Michael Grondahl, co-founder of Planet Fitness, has sold his Jupiter’s Bear’s Club property for $14.5 million.
Grondahl and his wife, Lisa Grondahl, sold the mansion at 162 Bears Club Drive to FTL Homestead Trust, a New York City-based entity, records show.
Vince Marotta of Illustrated Properties and April Stevenson of Sellstate Innovation Realty are listed. Dana Koch of the Corcoran Group brought the buyer. The agents declined to comment on the identity of the buyer and sellers.
Grondahl co-founded the company that became Planet Fitness with his brother Mark Grondahl in 1992. Today, the company is one of the largest gym franchises in the world, with nearly 2,400 locations, 17 million members and more than $900 million in annual revenue, according to To Fit Insider. Michael Grondahl resigned as CEO in 2013, according to published reports.
Real estate records show he and his wife bought the Bear’s Club mansion for $7 million in 2020. Built in 2010 on 1.1 acres, the 9,900-square-foot home has six bedrooms, seven bathrooms and one half-bathroom, records show. The building was designed by Dennis Reneau of YRA Architects and built by Jupiter-based Lavelle Construction, Marotta confirmed. The property also includes a home theater, fitness room, pool, putting green and outdoor kitchen. It extends to the 15th hole at Bear’s Club Golf Course, which was designed by the great golfer Jack Nicklaus.
The Grondahl family renovated the mansion last year, according to the listing. They listed it briefly last year, and relisted the mansion in June for $15 million, Redfin shows.
Marotta confirmed he had entered into a contract in August. Agents say the summer has been surprisingly busy after a quieter start to the year.
“I’m tickled pink,” Marotta said, noting that deals of this size are rare in the off-season. High demand and low inventory for luxury homes are leading to higher prices, he said.
“There are a lot of great communities, and everyone wants to live there,” Marotta added.
One of the most expensive gated communities in South Florida, The Bear’s Club is home to the likes of basketball legend Michael Jordan and professional golfer Rory McIlroy. In March, Dr. Armin Oskoy purchased the Bear’s Club property in Patrick Park for $19.8 million. Designed by Nicklaus and centered around a members-only golf club, the community is walled and known for its strict security measures.
Privacy and security are increasingly important amenities to luxury real estate buyers in South Florida, which gated communities provide while also offering a social element.
“It gives you a built-in social life,” Koch said. “There are still people looking for that kind of lifestyle.”