Last year, news that Jon Bon Jovi bought a home in The Town of Palm Beach, led to speculation that the legendary rock musician would be moving into the Sunshine State. Now that the house in question, 230 N. Ocean Blvd., has been torn down and is being rebuilt, this once quiet North End community is abuzz with real estate interest and activity. Here is how Jon Bon Jovi’s home is changing Palm Beach’s North End.
New Real Estate Activity
According to a recent report, five of the eighteen properties in this area have sold since Bon Jovi purchased his home. Up until now, this quiet community may not have been on everyone’s luxury property radar. However, now the addition of the famous musician’s property has sparked new investment and development in the area. The potential presence of Bon Jovi and his family is drawing attention and giving the neighborhood new appeal. Nearby communities are also feeling the Bon Jovi effect. Just across North County Road, real estate activity has picked up since the musician’s purchase.
Real Estate Building and Development
Renovation and construction activity around the Bon Jovi residence appears to be taking off. Outdated properties are disappearing and being replaced with stunning residences. Additionally, multiple homes are being remodeled. It’s expected that this community will continue to see beautiful and innovative architectural changes and developments as its popularity grows.
Revitalization
North Ocean is less than a mile from Royal Poinciana Way, Palm Beaches’ former central main street. This recently revitalized area is now a busy commercial district in the midst of numerous developments, including a mixed-use construction project. As real estate interests grow in Bon Jovi’s neighborhood, it stands to reason that the surrounding area’s commercial development will continue its upward trajectory.
Northern Influence
Bon Jovi is one of many wealthier buyers leaving the Northeastern United States in favor of owning Palm Beach area property. The migration of residents from high tax states such as Bon Jovi’s New Jersey, New York, and Connecticut, for Florida, continues at a steady pace. The Bon Jovi home and others in the immediate area were designed by Rafael Portuondo of Portuondo-Perotti Architects in Miami. The residence was created to appeal to the long-time New Jersey resident’s preferred aesthetic. Other Florida transplants may also bring northern architecture to their new Palm Beach settings.
Contact Our Palm Beach Real Estate Attorneys Today
At Rabideau Klein, Guy Rabideau, Esq. and David E. Klein, Esq. are Florida Board-Certified Real Estate Attorneys with extensive experience in the Palm Beach area. We have the expertise and local knowledge you need to assist with your Palm Beach real estate transaction. Contact Rabideau Klein today to discuss your real estate legal needs.