Planet Fitness co-founder Michael Grondahl sold his estate in Jupiter’s Bear’s Club 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 had the listing. Dana Koch of the Corcoran Group brought the buyer. The agents declined to comment on the identities of the buyer and sellers.
Grondahl co-founded the company that became Planet Fitness with his brother Marc Grondahl in 1992. Today, it is one of the largest gym franchises in the world, with almost 2,400 locations, 17 million members and more than $900 million in annual revenue, according to Fitt Insider. Michael Grondahl stepped down from his role as CEO in 2013, according to published reports.
He and his wife bought the Bear’s Club mansion for $7 million in 2020, property records show. Built in 2010 on 1.1 acres, the 9,900-square-foot home has six bedrooms, seven bathrooms and one half-bathroom, records show. It was designed by Dennis Rainho of YRA Architects and built by Jupiter-based Lavelle Construction, Marotta confirmed. The estate also includes a home theater, fitness room, pool, putting green and an outdoor kitchen. It backs up to the 15th hole of the Bear’s Club golf course, which was designed by golf great Jack Nicklaus.
The Grondahls 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 it went into contract in August. Agents say the summer was surprisingly busy after a quieter start to the year.
“I’m tickled pink,” Marotta said, noting that deals of this size are a rarity for the off-season. High demand and low inventory for luxury homes are buoying prices, he said.
“There’s only so many great communities, and everyone wants to live there,” Marotta added.
The Bear’s Club is among the priciest gated communities in South Florida, and home to the likes of basketball legend Michael Jordan and professional golfer Rory McIlroy. In March, Dr. Armin Oskuei bought the Bear’s Club estate of Patrick Park for $19.8 million. Designed by Nicklaus and centered around an elite members-only golf club, the community is surrounded by a wall and known for its strict security.
Privacy and security are increasingly important amenities for South Florida’s luxury buyers, which gated communities provide while also offering a social element.
“It gives you a built-in social life,” Koch said. “There’s still people out there looking for that kind of lifestyle.”