Billionaire investor, scientist, and philanthropist Dr. Herbert "Herbie" Wertheim has expanded his South Florida real estate portfolio with the purchase of a meticulously rebuilt ocean-to-lake estate in Manalapan for $61.75 million. The transaction, conducted through a trust, places Wertheim in close proximity to his existing Palm Beach residences.
Key Takeaways
- Dr. Herbert Wertheim, a notable investor and philanthropist, purchased a Manalapan estate for $61.75 million.
- The estate spans 1.75 acres and features extensive ocean and Intracoastal Waterway frontage.
- The property underwent a complete two-year rebuilding project after its acquisition by the seller in 2021.
- Wertheim already owns two other properties in Palm Beach.
A Premier Oceanfront Property
The newly acquired estate, located at 1160 S. Ocean Blvd., boasts approximately 160 feet of frontage on both the Atlantic Ocean and the Intracoastal Waterway. The property encompasses a contemporary two-story mansion with four primary bedrooms and additional rooms for staff, alongside a separate two-bedroom guesthouse and a pool cabana. A notable feature is the garage, capable of housing over 13 vehicles.
The estate’s total living space, both interior and exterior, measures around 27,745 square feet. The interiors are characterized by high-end finishes, including white-oak wood floors and Santorini shell stone. The property was listed for $87 million in February and later reduced to $79 million before the sale.
Strategic Location and Amenities
Situated about a mile south of the Eau Palm Beach Resort & Spa, the estate is divided into two parcels. The main parcel is on the ocean side, featuring a beachfront swimming pool with an infinity edge. The opposite side of the coastal road includes a strip of land fronting the Intracoastal Waterway, complete with a private dock and two boat lifts.
Wertheim’s Philanthropic and Business Acumen
Dr. Herbert Wertheim is recognized for his multifaceted career as an optometrist, inventor, scientist, and investor, with Forbes estimating his net worth at $4 billion. His philanthropic endeavors include a significant $100 million donation to the University of Florida in 2002, which led to the renaming of the Wertheim Biomedical Research Institute. He also founded Brain Power Inc., a company specializing in optical tints for eyeglasses, holding over 100 patents.
Existing Palm Beach Holdings
This Manalapan purchase adds to Wertheim’s established presence in Palm Beach. In November 2024, he acquired a waterfront property on Indian Road for $38 million. Prior to that, in February 2023, he purchased a luxury condominium on Brazilian Avenue for $17.9 million.
Sources
- Billionaire Wertheim pays $61.75M for Manalapan estate near Palm Beach, Palm Beach Daily News.