Planned $285 Million Mega-Mansion Hits the Market in Manalapan

The Most Expensive New Residential Project in the U.S.

A spectacular planned mega-mansion is now on the market in Manalapan, Florida, listed for an eye-popping $285 million. This ambitious project is designed for speculative buyers and is located at 1960 S. Ocean Blvd, right next to tech billionaire Larry Ellison’s expansive estate. If constructed, this contemporary-designed home will become a significant landmark in the high-end real estate market.

Key Features of the Property

• Size and Location: The estate will span over four ocean-to-lake acres, boasting 350 feet of oceanfront and an additional 350 feet along the Intracoastal Waterway.
• Living Space: Covering 54,570 square feet, the project includes:
  • An eight-bedroom main house
  • A guesthouse
  • A smaller beach house

Unique Amenities

The estate promises luxurious features designed for elite living, such as:

• A private bowling alley
• A movie theater
• A gym and spa
• A game room
• A golf-simulation room
• A shooting range
• A padel court
• A dedicated car museum for showcasing prized vehicles

The property also contains a unique tunnel connecting the lakeside and oceanfront parcels, a feature only found in a few estates in Manalapan.

Development Insights

Stewart Satter, a resident and former mayor of Manalapan, is spearheading the development through his company, Carnegie Hill Development. He expressed confidence in the project’s appeal:

“It’s a house unlike any other on a lot unlike any other. It just doesn’t exist anywhere at any price.”

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Despite the ambitious plans, ground has not yet been broken, and Satter is waiting to gauge buyer interest before proceeding.

Architectural Overview

The estate’s designs will be submitted to Manalapan’s Architectural Commission for approval, a crucial step in the development process. Although Satter is the commission’s chairman, he plans to recuse himself during the review.

Market Context

The staggering asking price makes this listing the highest ever for an MLS-listed property in both Manalapan and Palm Beach. According to Satter, the construction costs alone could reach approximately $150 million.

“We’re in no hurry to build. We’ll see how the interest goes,” he stated.

Current Market Trends

Real estate experts note that while sales in Manalapan have slowed in recent months, asking prices for premium properties remain significantly above pre-pandemic levels. This market trend is attributed to several factors:

• High demand for waterfront estates
• Limited housing inventory in nearby Palm Beach
• Florida’s favorable tax climate

Recently, notable personalities like Sean Hannity have purchased properties in the area, contributing to Manalapan’s growing reputation among affluent buyers.

Conclusion

For those interested in the pinnacle of luxury real estate, the planned mega-mansion in Manalapan presents an unparalleled opportunity. With its opulent features and enviable location, it promises to become a highlight in the competitive U.S. luxury property market.

For more insights into Florida’s real estate scene, check out resources like Zillow and Realtor.com.

Stay tuned for updates as this story continues to develop, with more details on the mega-mansion and the evolving luxury market in Manalapan.