According to property records, Michael Grondahl and his wife, Lisa Grondahl, have sold their mansion located at 162 Bears Club Drive to FTL Homestead Trust, a New York City-based entity. The transaction details were handled by real estate agents Vince Marotta of Illustrated Properties and April Stevenson of Sellstate Innovation Realty, with Dana Koch of the Corcoran Group representing the buyer. The identities of the buyers and sellers have not been disclosed by the agents.
Michael Grondahl is known for co-founding the company that eventually became Planet Fitness in 1992, which has since grown into one of the largest gym franchises globally, boasting almost 2,400 locations, 17 million members, and over $900 million in annual revenue, as reported by Fitt Insider. He stepped down from his role as CEO in 2013.
The Grondahls acquired the Bear’s Club mansion in 2020 for $7 million. The mansion, situated on 1.1 acres and built in 2010, spans 9,900 square feet and features six bedrooms, seven bathrooms, and one half-bathroom. It was designed by Dennis Rainho of YRA Architects and constructed by Jupiter-based Lavelle Construction. The property also includes amenities such as a home theater, fitness room, pool, putting green, outdoor kitchen, and backs up to the 15th hole of the Bear’s Club golf course, designed by golf legend Jack Nicklaus.
The Grondahls conducted renovations on the mansion last year, as per the listing. The property was briefly listed last year and was relisted in June with an asking price of $15 million, according to Redfin. It went under contract in August, a surprisingly active period during the summer after a relatively quieter start to the year.
The Bear’s Club is renowned as one of the most exclusive gated communities in South Florida and is home to notable individuals such as basketball legend Michael Jordan and professional golfer Rory McIlroy. The community, designed by Jack Nicklaus and centered around an elite members-only golf club, is known for its strict security and offers privacy and a social element, making it highly attractive to luxury home buyers.
Gated communities like the Bear’s Club provide both the privacy and security that luxury buyers seek while also fostering a built-in social life, which continues to be a desirable lifestyle choice for many in South Florida.
