A four-acre waterfront property in the exclusive town of Manalapan, Florida, has been listed for $75 million. The parcel of land, located at 1960 South Ocean Boulevard, sits directly adjacent to an estate owned by Oracle co-founder Larry Ellison.
The property was originally slated for a single 55,000-square-foot megamansion with a projected value of $285 million. However, the owner has shifted strategy to sell the land, responding to a growing demand from ultra-wealthy buyers who prefer to design and build their own custom estates.
Key Takeaways
- A four-acre ocean-to-intracoastal property in Manalapan, Florida, is for sale for $75 million.
- The land is located next to billionaire Larry Ellison's South Florida residence.
- The seller pivoted from a plan to build a $285 million mansion after buyers expressed interest in customizing their own homes.
- The sale reflects a trend in the luxury market where high-net-worth individuals seek personalized, custom-built properties.
A Shift in Ultra-Luxury Real Estate
The decision to list the land at 1960 South Ocean Boulevard marks a significant change from its original development plan. The owner, developer and former Manalapan Mayor Stewart Satter, initially intended to construct one of the most expensive new homes in the country on the site.
However, feedback from the market indicated a stronger interest in the land itself. According to Douglas Elliman agent Nicholas Malinosky, who represents the property, several prospective buyers wanted the freedom to create a home tailored to their specific tastes.
"Over the last year … a number of people asked us if we'd be willing to sell the land," Satter stated. "They want to obviously customize the product and build something to their unique specifications. We were happy to make that available."
This move highlights a broader trend in South Florida's high-end real estate market. As more billionaires and high-net-worth individuals relocate to the state, the demand for customizable estates is increasing. Buyers at this level often prefer a blank canvas to a pre-designed product.
Malinosky noted that there were five "really good prospects" for the $285 million home, but even more inquiries came in for the land alone. "We're really listening to the feedback from the buyer and the brokerage community," he added.
Inside the Manalapan Billionaire Enclave
Manalapan is a small, exclusive town with a population of only about 400 residents, making it a private and secure haven for the ultra-wealthy. Its limited inventory and large properties have made it a sought-after location.
Property at a Glance
- Location: 1960 South Ocean Blvd., Manalapan, FL
- Size: 4 acres
- Water Frontage: 350 feet on the Atlantic Ocean and 350 feet on the Intracoastal Waterway
- Status: The lot is subdividable into two properties.
The town's most famous resident is Larry Ellison, whose sprawling estate is next door to the listed property. The proximity to one of the world's wealthiest individuals adds to the location's prestige.
"Given Mr. Ellison and other wildly successful entrepreneurs are here, billionaires are here, you find people point to Manalapan as a place to live, and it draws more people in," Satter explained. He emphasized that in Manalapan, demand is currently outstripping supply for oceanfront properties.
Security is a primary concern for buyers in this market segment. Malinosky commented that the desire for a secure luxury market is "top of mind for all of my clients."
The Vision for 1960 South Ocean Boulevard
While the property is being marketed as land, the original plans for the grand estate are still available to a potential buyer. Should someone choose to build the proposed 55,000-square-foot home, it would be one of America's most significant new residential constructions.
The ambitious design included a wide array of luxury amenities:
- A private bowling alley
- A car museum
- A full-service spa and gym
- An indoor shooting range
- A golf simulator room
- A padel court
What is Dual-Water Exposure?
The property's "intracoastal to the ocean" layout is a rare and highly valued feature in South Florida. It provides the owner with direct access to the Atlantic Ocean on one side and the calmer, protected waters of the Intracoastal Waterway on the other, ideal for docking large yachts.
The four-acre lot is also unique because it is the largest available oceanfront parcel in Manalapan and can be subdivided to create two separate estate lots. This flexibility offers a buyer multiple options for development, whether for a single grand compound or two distinct homes.
Developer's Perspective on a Changing Market
Satter, who has a deep connection to the town as its former mayor, described Manalapan as a "pro-development" community that works with homeowners to build their dream properties, albeit with rigorous standards.
He cited the area's pro-business environment, low taxes, and tranquil atmosphere as key draws for affluent buyers. "The freedom, access, tranquility … all the tax advantages of living here … it really is a very, very special place," Satter said.
The decision to sell was a personal one for the developer, who often walks the land. "I go out there regularly just to walk the property, and it's just breathtaking," he shared. "So, yeah, I will miss it, perhaps when it's gone."
Both Satter and Malinosky believe the unique qualities of the property and the strength of the South Florida market will attract the right buyer, whether they are a well-known celebrity or a less public but equally successful business leader.
"The high-end market is continually doing exceedingly well. We're seeing record after record," Malinosky concluded. "If the property is special and unique, you're going to do very well in our South Florida market."
