In 2018, Jon Bon Jovi paid $10 million for a Palm Beach home, demolished it and rebuilt

Rock star Jon Bon Jovi made a quick multi-million-pound property deal in South Florida, selling a newly built oceanfront mansion in Palm Beach for $19.85 million (£15.8 million), just two years after buying the original property for about half that amount. According to property records and local real estate reports, first detailed by The Real Deal, the musician completed the sale of the custom-built home on North Ocean Boulevard in July 2020. On the same day, he bought a much larger oceanfront estate farther south on South Ocean Boulevard for $43 million (£34.2 million). The two deals represent one of the fastest and most profitable residential redevelopments by a celebrity in Palm Beach in recent years.A $10 million property makeoverBon Jovi bought the original property at 1075 North Ocean Boulevard in 2018 through a limited liability company for $10 million. Instead of moving into the existing 1950s house, the singer decided to demolish it. He then built a custom two-storey mansion covering about 5,000 square feet. The home was designed in a modern Mediterranean style. The finished property has five bedrooms, five full bathrooms and two half-bathrooms. It also includes an oceanfr...