A prime stretch of Manalapan coastline once envisioned as America’s priciest new home is back on the market, this time for $75 million. The relisted parcel at 1960 South Ocean Boulevard sits directly beside Oracle billionaire Larry Ellison’s sprawling South Florida compound, making it one of the region’s most closely watched luxury offerings.
Buyers do not want pre-built mansions
Developer and former Manalapan mayor, Stewart Satter, originally envisioned a $285 million, 55,000 square foot megamansion, has changed plans after the repeated requests of prospective buyers. High-end clients prefer to design an estate from scratch—which has reshaped South Florida’s trophy property market.
“Over the last year … a number of people asked if we’d be willing to sell the land. So they want to obviously customize the product and build something to their unique specifications,” said Satter, speaking to Fox News Digital.
A dual-waterfront parcel with untapped potential
Douglas Elliman Exclusive Group founder Nick Malinosky, who is representing the listing, noted that the location has heavy interest. The four-acre property offers 350 feet of water frontage on both the ocean and intracoastal which is rare for the ultra-luxury spot. Buyers have the option to build one grand estate or two major homes through its subdivision.
The original home plans for a bowling alley, car museum and private spa. If the mansion is constructed, it would still rank among the most expensive new builds in the country.
Billionaire migration continues to drive Manalapan demand
Manalapan is home to about 400 residents and grew to be a magnet for billionaires and entrepreneurs seeking security and privacy. Ellison’s presence next door builds onto prestige of the location.
“The high-end market is continually doing exceedingly well… So I believe if the property is special and unique, you’re going to do very well in our South Florida market,” stated Malinosky. Letting go of the land is an emotional decision for Satter. “I go out there regularly just to walk the property, and it’s just breathtaking … So, yeah, I will miss it, perhaps when it’s gone.” said Satter.
