Million-dollar listings: House next door to Bon Jovi’s Palm Beach property fetches $8M

A Mediterranean-style house next door to the Palm Beach home being built for rocker Jon Bon Jovi has sold for a recorded $8 million, a price exceeding its $7.95 million asking.

Healthcare and real estate entrepreneur Scott Schuster and his wife, Heidi L. Schuster, sold their four-bedroom home at 110 Atlantic Ave.

Built in 1982, the house is immediately west of Bon Jovi's oceanfront property at the corner of Atlantic Avenue and North Ocean Boulevard on the near North End.

The Schusters sold their house as trustees of a trust in Heidi Schuster's name, the deed recorded Thursday shows.

Andrea Salvi bought the house as trustee of the Twin Hearts Palm Beach Realty Trust of Boston, the deed shows. She is an attorney affiliated with Bradley & Associates, a law firm with the same address listed on the deed for the buyer's trust, 1270 Soldiers Field Road. Attorney Jim Bradley declined to comment about the transaction on Atlantic Ave.

The address of Bradley's firm also matches the one for Intercontinental Real Estate Corp., a real estate investment management company, where Peter Palandjian is chairman and CEO. Salvi and Bradley & Associates have represented Intercontinental in a number of real estate deals, according to published reports.

In 2008 the Schusters paid $3.96 million for the house on Atlantic Ave., which has 5,224 square feet of living space, inside and out, property records show. They had it homesteaded in the latest Palm Beach County tax rolls.

Broker Christian Angle of Christian Angle Real Estate listed the house at $7.95 million in late January and it was under contract by Feb. 20, according to the local multiple listing service.

Corcoran Group agents Paulette Koch and Dana Koch represented the buyer. Angle and Dana Koch declined to comment, and the Schusters couldn't be reached.

The ocean block of Atlantic Avenue has become something of a residential hot spot since Bon Jovi and his wife, Dorothea Hurley, bought their property for $10 million in 2018.

The house the Schusters just sold measures a little less than a third of an acre, including a deeded oceanfront parcel with a private deck and 25 feet of water frontage, according to Angle's sales listing. That parcel is just south of a larger beach parcel that serves the house being built by Bon Jovi.

Other amenities of the house that just changed hands include a foyer with a soaring ceiling, a living room with a fireplace, a library, a formal dining room and a two-car garage. The swimming pool has a whirlpool spa amid lush landscaping.

Like the buyer, the Schusters have ties to Massachusetts. Scott Schuster is founder and president of Needham-based Wingate Healthcare, described on its website as "a regional provider of skilled nursing and supportive care to seniors in residential settings in Massachusetts and New York State."

Scott Schuster has been involved in the healthcare and real estate industries for more than 30 years, specializing in the development of skilled nursing and assisted-living apartments and related post-acute care businesses, the website says. His board appointments include serving as a trustee of Brigham and Women's Hospital in Boston.

In February, a never-lived-in house developed on speculation by Todd Michael Glaser sold for a recorded $9.41 million at 113 Atlantic Ave. on the other side of the street. Agent Suzanne Frisbie of Premier Estate Properties had the listing, and Crista Ryan of Tina Fanjul Associates acted for the buyer, Alexandra Murphy of King of Prussia, Pennsylvania.

*

Darrell Hofheinz writes about real estate in his weekly "Beyond the Hedges" column. He welcomes news items about Palm Beach real estate for this column. Email [email protected], call 820-3831 or tweet @PBDN_Hofheinz.

___

(c)2020 The Palm Beach Post (West Palm Beach, Fla.)

Visit The Palm Beach Post (West Palm Beach, Fla.) at www.palmbeachpost.com

Distributed by Tribune Content Agency, LLC.