The demand for luxury real estate market in Palm Beach County has remained steady in 2021. With continuing market activity, towns and cities throughout the Palm Beaches are seeing unprecedented interest in the high-end residential market. The exclusive Town of Manalapan has been making luxury real estate headlines this year. In recent news, an oceanfront Manalapan estate went on the market for $33.85 million.
1160 SOUTH OCEAN BLVD
In January, an over 20,000-square-foot Manalapan ocean-to-lake estate at 1160 South Ocean Blvd went on the Multiple Listing Service (MLS) for $33.85 million. The 1.7-acre property has 160 feet of Atlantic Ocean frontage and 160 feet on the Intercoastal Waterway. The property also offers two boat lifts and a private dock.
Inside, the residence has seven bedrooms and eleven bathrooms. The living room features a 25-foot wet bar, and the property has dual offices, a marble dining room, a gourmet kitchen, and three guest suites connected to an interior courtyard. The listing agent recently told Mansion Global that the home is currently undergoing renovations to add a new gym and spa and to “retrofit the home theater so it can be converted into a boardroom for calls and meetings.”
Outside there are multiple loggias and terraces, a tennis court, and a pool with a connecting cabana and pool house. The grounds feature a private putting green and expertly manicured landscaping. Additionally, the home offers a 10-car garage. There is also a three-bedroom apartment on the property with a separate entryway.
The sales price includes membership to the exclusive La Coquille Club. The historic beach club offers members enjoyment of a private beach, access to its clubhouse, club programs, upscale dining, and other luxury amenities.
The seller, real estate developer Michael Cantor, had the home built in 1995 after owning the land for several years.
1040 S. OCEAN BLVD
Not far from the newly-listed property, another ocean-to-lake Manalapan property at 1040 S. Ocean Blvd recently closed for a recorded $25.75 million. According to a recent article, the sale was the second Manalapan single-family residential real estate property to close at $25 million. The other transaction involved the December sale of a property to a couple who had recently sold their home in the Town of Palm Beach to legendary actor Sylvester Stallone.
The 23,795 square-foot Mediterranean-style home at 1040 S. Ocean Blvd was designed by YRA. The property has a house and guest house with eight bedrooms, an oceanfront swimming pool, two elevators, and five garage bays. The home also offers 200 feet of direct oceanfront and 200 feet of frontage on the Intracoastal Waterway. On the lakeside of the estate, there is also a parcel with a private dock opposite the coastal road. 1040 S. Ocean Blvd is located approximately 2 miles south of Eau Palm Beach Resort & Spa.
According to a recent article, the real estate agency that handled both sides of the transaction confirmed that the buyer is from California.
1660 S. OCEAN BLVD
Late last year, Ron and Cindy McMackin sold their home at 1480 N. Lake Way in the Town of Palm Beach to legendary screenwriter, director, and actor Sylvester Stallone for $35.38 million. The couple recently closed on a six-bedroom home at 1660 S. Ocean Blvd in Manalapan for $38.9 million.
The 20,825 square foot home sits on 2 acres and has 150 feet of ocean frontage and 150 feet of frontage on the Intracoastal Waterway. The property also includes a narrow track with the same amount of frontage on the Atlantic, east of the coastal road. Tom Benedict of the Benedict Group designed the property. Marc-Michaels Interior Design completed the home’s interior design and finishes, and Robert Burrage of RWB Construction performed construction.
At Rabideau Klein, we have extensive experience handling multi-million-dollar transactions for high-end real estate in the Town of Palm Beach and throughout Palm Beach County. David E. Klein, Esq. and Guy Rabideau, Esq. are Florida Board-Certified Real Estate attorneys with the expertise and local knowledge you need to assist you in managing your Palm Beach residential and commercial real estate issues. Contact Rabideau Klein today to discuss your real estate legal needs.