Luxury Waterfront Estate in Manalapan Hits Market for $84.88 Million

In the opulent enclave of Manalapan, Florida, a striking waterfront estate, once owned by the iconic musician Billy Joel, is now available for a remarkable $84.88 million. This lavish property adds to an increasingly impressive list of luxury listings in the area, south of Palm Beach, as reported by the Wall Street Journal.

A Brief History of the Estate

• Location: Manalapan, Florida
• Previous Owner: Billy Joel
• Current Owners: Frank A. Mennella and Dolores Mennella
• Original Purchase Price: $7.5 million in 2018

The Mennellas, who are known for their success in flipping high-value properties, developed this stunning 23,000-square-foot residence, nestled within approximately 2 acres of land.

Design and Amenities That Impress

This three-story masterpiece goes beyond the conventional comforts of a home, blurring the lines between a private residence and a five-star resort. Key features of the estate include:

• Bedrooms: 5
• Bathrooms: 13
• Private Tunnel: Connects the main house to a 1,200-square-foot beachfront cabana
• Entertainment Options:
  • Bowling alley
  • Movie theater
  • Craft room
  • Wine cellar containing up to 1,000 bottles

Luxury at Every Turn

The Mennella’s vision for the property leans heavily toward luxury, incorporating numerous high-end amenities:

• Spa Wing: Features massage and steam rooms
• Dining: Opulent formal dining area
• Outdoor Living: Manicured grounds with lounge areas and built-in fire pit

Unique Selling Points

This estate not only boasts lavish amenities but also offers stunning water views with direct access to both the Intracoastal Waterway and the Atlantic Ocean. This dual-coastline feature is highly sought after in Manalapan, contributing significantly to the property’s value.

Market Trends in Manalapan

Manalapan has gained notoriety as a hub for ultra-luxury demand, especially since the COVID-19 pandemic. The surge in property values in this exclusive neighborhood has been extraordinary, with some homes seeing increases of more than 100% in their sale prices. Notable deals include:

• Larry Ellison’s Purchase: $173 million for a historic estate in 2022.
• Current Listings: A speculative home seeking $285 million.

Future Aspirations of the Mennellas

Despite their success with this estate, Frank and Dolores Mennella are already eyeing their next venture. They express a preference for moving every five years, hinting at their ongoing interest in the luxury real estate market.

As luxury real estate in Florida continues to flourish, the listing of this unique Manalapan estate serves to highlight the ongoing demand for high-end waterfront properties. For those interested in experiencing unparalleled elegance in a prime location, this estate is undoubtedly worth considering.

For more information on luxury listings and market trends, visit Zillow or explore Realtor.com.