John Sculley, who formerly lead Apple and PepsiCo, has bought a beachfront Palm Beach, Florida, home from hedge fund manager David Fiszel, property records show.
Mr. Sculley, 78, and his wife, Diane Sculley, bought the five-bedroom, six-bathroom home for $14.925 million in a deal that closed on Wednesday. That places it below the pricey Florida island’s average luxury sales price of $17.5 million, according todata from Douglas Elliman.
At nearly 5,200 square feet, the house features a pool, covered terrace, views of the ocean and central air conditioning.
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Mr. Fiszel and his wife, Sarah, first purchased the property on North Ocean Boulevard in February 2013 for $5.84 million. Payton Smith,a listing agent for the property, said that the house was deconstructed and rebuilt to the same footprint in 2015.
This is not Mr. Sculley’s first property in Palm Beach. He purchased a five-bedroom, eight-bathroom house for $8 million with his previous wife Carol Lee Sculley in 2009. Mr. Sculley quit his claim to the property in March 2011, and Ms. Sculley sold it in 2013 for $10.95 million, according to property records.
Located about two-and-a-half miles north of his new Palm Beach home, Mr. Sculley’s new house has a cabana across the street with access to the beach.
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Mr. Sculley is currently the chief marketing officer at RxAdvance, a health tech company based in Southborough, Massachussetts. He served as CEO of PepsiCo from 1977 to 1983, and then of Apple from 1983 to 1993. Mr. Sculley did not immediately respond to a request for comment.
The sale was first reported by The Real Deal on Thursday.