Celebrity chef Guy Fieri has closed a major real estate chapter by selling his waterfront mansion in Lake Worth Beach, Florida. The sale, which followed a substantial price reduction, has stirred excitement after it was revealed the new owners are powerhouse restaurateurs from Las Vegas.
Key Takeaways
- Guy Fieri’s Lake Worth Beach home sold for $7 million after a price drop.
- New owners are Frank Bonanno and Betty Pellegrino Bonanno, notable Las Vegas restaurateurs.
- Fieri continues to maintain a strong personal and business presence in Florida.
Who Bought Fieri’s Luxurious Home?
The buyers are Frank Bonanno, president of Fifth Avenue Restaurant Group, and his wife, Betty Pellegrino Bonanno. Known for a prolific restaurant empire in Las Vegas—over 40 dining establishments—the Bonannos are significant players in the American culinary scene. Frank Bonanno initially rose to fame with the Famous Chocolate Chip Cookie Co., which was sold to Mrs. Fields, and he has since expanded into a wide portfolio of eateries, many within Las Vegas’s top resorts.
Mansion Features and Sale Details
Fieri first listed the secluded 6,000-square-foot property for $8.75 million in 2023. After a tough market saw around 28–30% of Palm Beach County home sellers cutting prices early in 2025, the home sold for $7 million in January—still nearly double the $3.9 million Fieri paid in 2021.
Top features of the estate include:
- Outdoor kitchen for al fresco entertaining
- Elevator and spacious, luxurious rooms
- Pool and spa upgraded with new tiles, heater, and speakers
- Boat lift and private dock fit for a sizable yacht
- Annual HOA fees at $3,000
Agent Charlie Bodine managed the sale for Fieri, who invested in notable upgrades before listing the property.
Does Guy Fieri Still Have Ties to Florida?
The sale does not signal Fieri’s exit from the Sunshine State. He currently owns another grand waterfront home on Singer Island in Riviera Beach, acquired for $7.3 million in June 2023. On top of real estate, Fieri remains a local fixture for his culinary ventures:
- Over 100 Florida restaurants have been featured on his TV show, Diners, Drive-ins and Dives.
- Four of his “Chicken Guy!” locations operate in major Florida cities.
- His Flavortown Kitchen operates as a delivery-only brand throughout the state.
- Carnival Cruise Line travelers departing from Florida can try his coast-to-coast cruise eateries.
Fieri recently celebrated his son Hunter’s graduation from the University of Miami, underscoring his personal connection to Florida.
The Impact of the Sale
Guy Fieri’s real estate move comes amid a cooling luxury property market in South Florida, with sellers often lowering prices to secure buyers. The sale to prominent figures in the restaurant industry keeps the mansion’s culinary spirit alive, even as Fieri continues to build his empire in Florida and beyond.