The barrier island community of Manalapan, once considered a quieter neighbor to Palm Beach, is making waves in the luxury real estate market. The latest property to catch attention is a stunning ocean-to-lake estate at 640 S. Ocean Blvd., which has just hit the market for an eye-popping $85 million—a price that includes furnishings. This listing marks one of the highest-priced residential properties ever listed for sale in Manalapan.
What’s even more striking is that the property, completed in 2019, was sold just four years ago in 2020 for $36.05 million, meaning its price has more than doubled in value. The $85 million price tag is reflective of the dramatic rise in real estate values in Manalapan, particularly during the pandemic, when many homebuyers turned to this wealthy enclave after inventory in Palm Beach dwindled.
A Competitive Price in Today’s Market
While the $85 million price may seem astonishing, listing agent Casey Flannery of Equestrian Sotheby’s International Realty maintains that the estate is “priced competitively” for today’s market. The Palm Beach Daily News was the first to report the listing.
The estate sits on 1.8 acres of land, boasting 150 feet of oceanfront on one side and the same amount of frontage on the Intracoastal Waterway. The property features a well-equipped dock on the Intracoastal side, separated from the oceanfront by the expansive grounds of the Bermuda Georgian-style mansion.
With 11 bedrooms and 23,187 square feet of total living space, the estate is a masterpiece of design, featuring 16,748 square feet of air-conditioned space. The mansion and its outbuildings provide ample room for luxury living, including an oceanfront pool, second-floor verandas, and loggias with stunning views of the Atlantic.
Manalapan: A Growing Luxury Market
Manalapan has seen home prices rise dramatically in recent years, as buyers flocked to the area for its large ocean-to-lake properties and relatively peaceful atmosphere compared to nearby Palm Beach. During the pandemic, a surge of homebuyers looking for spacious, waterfront estates contributed to the town’s rapid real estate boom.
“Manalapan has really become a prime destination for buyers as an alternative to Palm Beach,” Flannery said.
The appeal of Manalapan lies in its mix of tranquility and grandeur. The town offers sizable ocean-to-lake lots, and although prices have climbed, they remain below the stratospheric levels seen in Palm Beach. For many, Manalapan offers the same luxurious lifestyle without the premium Palm Beach price tag.
A Look Inside the $85M Estate
Designed by Smith and Moore Architects, the estate at 640 S. Ocean Blvd. blends classic architecture with modern amenities. Twin driveways lead to the three-level main house, which is crowned by a front porch and a second-floor veranda topped with a classical pediment. Inside, the grand foyer opens to an expansive living area with French doors that lead to the oceanfront loggia.
The mansion’s master suite is designed for ultimate luxury, featuring a sitting area, an oversized dressing room, and direct ocean views. Marc-Michaels Interior Design was responsible for the home’s interior decoration and furnishings, adding a sophisticated touch to the estate’s opulent spaces.
Outdoor entertaining areas are equally impressive, with poolside loggias, a summer kitchen, and dining spaces overlooking the Atlantic. Additional features of the estate include a temperature-controlled wine room, a gym and spa, a bar and lounge, and staff quarters. The estate also has a freestanding porte-cochere, a two-bedroom guesthouse, and a state-of-the-art guardhouse.
Manalapan’s Real Estate Surge Continues
The listing of 640 S. Ocean Blvd. comes at a time when Manalapan continues to see high-priced real estate offerings. Just last month, an under-construction mansion at 1140 S. Ocean Blvd. was listed for $95 million. Developer Joseph Farrell of Farrell Building Co. is rebuilding that estate, which sits on a 1.6-acre ocean-to-lake lot and will feature a 19,000-square-foot main house along with a 4,000-square-foot guesthouse.
Although home sales in Manalapan have slowed somewhat in the past year, the asking prices for premier properties remain far higher than before the pandemic. In fact, Manalapan currently holds the title of the town with the highest average home price in the country, with a report from CashNetUSA in April 2024 listing the average price of a home in the town at $39.76 million. This figure was skewed by the record-breaking $173 million sale of Oracle billionaire Larry Ellison’s 22-acre estate in June 2022, which set a new Florida residential sales record.
A Rare Opportunity
The listing of 640 S. Ocean Blvd. offers a rare opportunity to own one of Manalapan’s most prestigious estates. As the town’s real estate market continues to thrive, properties like this one are becoming increasingly coveted, representing the pinnacle of luxury living in South Florida.
With its ocean-to-lake layout, exquisite design, and premium furnishings, the $85 million estate is poised to make waves in the high-end real estate market, continuing Manalapan’s transformation from a quiet beach town to a hotspot for ultra-luxury living.
For all your South Florida real estate needs, reach out to the Mastropieri Group to find the ideal home for you. Contact us today at 561-544-7000 to discuss how we can assist you in achieving your real estate goals. Whether you’re buying, selling, or looking for investment opportunities, our team is ready to offer expert advice and support to help you navigate the dynamic South Florida real estate market. Let us put our expertise to work for you and turn your real estate ambitions into reality
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