Florida Lender Acquires Nigerian Oil Tycoon's Unfinished Manalapan Mansion for $21.5M

In a significant turn of events in the luxury real estate market, a Florida lender has acquired the oceanfront Manalapan estate of Nigerian oil mogul Onajite Okoloko. The spec megamansion, which was under construction, was purchased for $21.5 million by Edward London’s London Financial South Ocean LLC, a Florida-based entity.
Onajite Okoloko, a prominent figure in Nigeria's oil industry and chairman of Midwestern Oil & Gas, Eroton Exploration & Production, and Notore Chemical Industries, had initially listed the property for a staggering $87.5 million. Okoloko, also a co-founder of Ocean and Oil Holdings, faced foreclosure on the property located at 1460 South Ocean Boulevard, leading to its eventual sale.
Edward London, a Key Biscayne-based lender…
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