A prime parcel of vacant land in the exclusive enclave of Manalapan, Florida, has hit the market with an eye-watering price tag of $99 million. This significant listing underscores the booming luxury real estate sector in South Florida, attracting ultra-high-net-worth individuals seeking prime oceanfront property.
Key Takeaways
- A 3.1-acre ocean-to-lakefront property in Manalapan, Florida, is listed for $99 million.
- The property is situated near tech billionaire Larry Ellison’s estate.
- This listing follows a recent $105 million sale of a similar vacant lot in the same neighborhood.
- The surge in high-value land sales is attributed to factors like a proposed billionaire tax in Florida and the desirability of ocean-to-lakefront properties.
A Coveted Location
The property, located at 4000 and 4020 South Ocean Boulevard, boasts 236 feet of ocean frontage and sits on 3.1 acres. Its prime location in Manalapan, a town known for its ultra-wealthy residents, places it adjacent to the estate of Oracle co-founder Larry Ellison. This exclusivity and proximity to other billionaires contribute significantly to its valuation.
Market Trends Driving High Prices
The $99 million asking price, while substantial, is not unprecedented in the area. Just last month, a similar 3.5-acre lot in the same neighborhood sold for $105 million. This trend is fueled by several factors, including the migration of billionaires from states like California, potentially seeking to avoid proposed wealth taxes. Furthermore, the unique appeal of "ocean-to-lake" properties, offering both beach access and Intracoastal Waterway frontage for boating, is highly sought after by affluent buyers.
Redevelopment Potential
While the current listing is for a vacant lot, the seller, billionaire Jeff Greene, previously listed the properties for $49.9 million in 2022. The significant price increase reflects the escalating market values and the potential for a buyer to develop a custom, secure, and secluded dream compound. The land offers the flexibility to build a main residence on the Intracoastal side and a beach house on the ocean side, or a single, expansive oceanfront mansion.
South Florida’s Luxury Real Estate Boom
Manalapan is experiencing a renaissance in luxury real estate, with properties like this attracting global attention. The area’s appeal lies in its privacy, stunning natural beauty, and the lifestyle it offers to the ultra-wealthy. The recent high-value transactions indicate a strong demand for prime coastal land, positioning South Florida as a premier destination for luxury real estate investment.
Sources
- Manalapan lot asks $99M — with Larry Ellison as a neighbor, New York Post.
- Waterfront estates, penthouses, lead big 2026 SW Florida home sales, Marco Eagle.
- Billionaire Jeff Greene asks $99M for property south of Palm Beach, Palm Beach Daily News.
- Why a completely empty piece of land just sold for a staggering $105,000,000 in Florida, supercarblondie.com.