Jon Bon Jovi purchased the 1075 North Ocean Boulevard lot through his LLC in 2018 for $10 M, opting to raze the 1950s house and erect a custom Mediterranean‑styled mansion. The new 5,000‑sq‑ft home, featuring five bedrooms, five full baths and an oceanfront pool, was listed at $22.9 M and sold for $19.85 M in July 2020, according to Palm Beach County property records. That same day, Bon Jovi closed on 1020 South Ocean Boulevard, a 10,000‑sq‑ft residence on more than an acre, for $43 M, paying a premium for prime beach access; the seller was a company tied to developer Thomas Holofcener. The rapid flip underscores Palm Beach’s 2020 luxury boom, when affluent New York and New Jersey buyers sought tax‑advantaged Florida properties, driving up prices and prompting high‑profile investors to rebuild upscale oceanfront estates. Despite multiple offers exceeding $250 M from unnamed tech investors, Bon Jovi has publicly rejected them and plans to retain the South Ocean Boulevard property, setting the stage for potential future sales as the market rallies.