From the South Florida website: The former waterfront mansion of John Lennon and Yoko Ono has sold for $23 million, Palm Beach County records show.
The three-story estate, at 720 South Ocean Boulevard on Billionaires Row, was owned by Lennon and Ono from 1980 to 1986. They paid $725,000 for the 1.5-acre property, and sold it for $3.15 million to New England developer Howard Fafard. Lennon died months after they bought the property with plans to renovate it.
Since then, it has been sold twice. In 1990, Alan and Christine Curtis paid $4.32 million for the 13,730-square-foot mansion.
In a deed recorded on Wednesday, the Curtises sold the property to husband and wife John C. Sites Jr. and Cindy Sites. John Sites is a former Bear Stearns executive. He resigned from Bear Stearns, which was acquired by JP Morgan Chase after the recession, in 1995 at age 43. At the time, the New York Times reported Sites was earning more than $14 million a year.
The Mediterranean-style estate, also known as “El Solano,” was built in 1919 and designed by noted Palm Beach architect Addison Mizner. It includes 23 rooms, four fireplaces, a grand ballroom, two pools, a fountain, tennis courts, a beachside cabana and more than 170 feet of waterfront. It also reportedly features a bridge on the second floor that connects the home to novelist James A. Patterson’s mansion directly north.
Christian J. Angle of Christian Angle Real Estate represented the buyers, according to the Palm Beach Daily News. Lawrence Moens of Lawrence A. Moens Associates represented the sellers.
Sites financed his Palm Beach purchase with a $5 million loan, according to Palm Beach County records. Bank of America is the lender.
Source: The Real Deal