Manalapan’s $285 Million Property: A New Benchmark in Luxury Real Estate

Florida’s Manalapan, known for its exclusivity, is stepping into the spotlight as a developer lists an extraordinary oceanfront estate for a staggering $285 million—one of the largest residential listings in U.S. history. This ambitious offering from local developer Stewart Satter has the potential to set new records in luxury real estate.

The Record-Breaking Listing

Key Details:

• Asking Price: $285 million
• Competing Listing: A $295 million compound in Naples, Florida remains unsold since February 2024.
• Potential Milestone: If sold at this price, it would become the most expensive home sold in the U.S., surpassing the current record of $238 million, set by hedge-fund billionaire Ken Griffin in Manhattan.

Initial Interest

Sources indicate that the new property has already attracted two interested buyers, signaling strong demand for ultra-luxury estates.

Property Overview

Size and Location

• Land Area: 4 acres
• Location: 1960 South Ocean Boulevard, Manalapan
• Frontage: 700 feet combining ocean and Intracoastal exposure

Designed for Luxury Living

The proposed estate design includes:

• Main House: 50,000 square feet
• Guesthouse: Complementing the main residence
• Boathouse: Enhancing nautical access

Premium Amenities

The estate will feature top-tier amenities such as:

• 8 Bedrooms
• 9 Full Bathrooms
• 7 Powder Rooms
• Private Bowling Alley
• Golf Simulator
• Shooting Range
• Movie Theater
• Game Room
• Padel Court
• Car Museum for luxury vehicles

Unique Features

• A private tunnel connecting the property to the Atlantic Ocean, giving residents a seamless transition to waterfront activities.

A Vision for Luxury

Stewart Satter, who purchased the land for $27.5 million in March 2024, is focused on creating a property that exceeds expectations. He emphasizes that:

"Someone spending $285 million is expecting everything. And in that property, they’re going to get everything."

He is collaborating with luxury builder Robert W. Burrage and architect Choeff Levy Fischman to realize this ambitious vision. The design is set to be completely customizable, allowing the future owner to tailor the estate to their preferences.

Appeal of Manalapan

Rising Property Values

Manalapan has become a magnet for ultra-wealthy buyers, including notable names like Larry Ellison and Sean Hannity. The town’s privacy, coupled with luxurious amenities, has seen property values soar.

Access to Exclusive Clubs

Purchasers of this estate will also gain access to La Coquille Club, owned by Oracle’s Larry Ellison, who acquired a neighboring estate for $173 million in 2022.

Growing Demand

As nearby Palm Beach becomes increasingly congested, buyers are looking south to Manalapan for a more tranquil and exclusive lifestyle. Builder Robert W. Burrage notes:

"Palm Beach itself has become so congested it can take an hour to get on or off the island."

Conclusion

The listing at $285 million is not merely a real estate transaction but a bold statement regarding the future of luxury living in Florida. With continued interest from potential buyers and the allure of the exclusive lifestyle in Manalapan, this property might redefine the luxury market.

For those intrigued by high-end real estate, this listing is a noteworthy event to follow as it unfolds. For more information on luxury homes and the best markets in the U.S., visit Realtor.com and Zillow.