The
Florida real estate market, already a hot ticket and getting ever steamier, is set to hit a new high courtesy of a remarkable new listing.
Behold America’s “most expensive new construction home” that’s landed
on the market in
Manalapan for a massive $285 million.
A company controlled by the former Manalapan mayor and developer
Stewart Satter is reported to have purchased the property in March 2024 for $27.5 million, according to the
Palm Beach Daily News, and it’s looking for quite a return on its investment.
At the time of his purchase, the 4-acre, ocean-to-lake estate included a 1989-era mansion, which Satter intended to raze in order to redevelop the property into what appears to be an over-the-top behemoth with an equally staggering price tag.
The property comes with bragging rights: It’s located next door to Oracle co-founder
Larry Ellison‘s South Florida estate and sits near the sprawling $23.5 million mansion that
Fox News star Sean Hannity recently purchased.
Renderings depict what the finished product will look like.
A rendering of the $285 million listing in Manalapan, FL (Gladstone Media Inc.)
A rendering of the 55,000-square-foot main house (Gladstone Media Inc.)
A rendering of the property with deluxe amenities, with completion scheduled for 2026 (Gladstone Media Inc.)
Record-setting potential
With an estimated completion date of 2026, the “record-setting property is the most expensive new construction single-family home brought to market in the country,” according to the listing.
If sold for the asking price, the property would break the country’s home sale record, according to the
Wall Street Journal.
While plenty of pricey listings can be found in this neighborhood—including the
Gordon Pointe estate in Naples for $295 million—this is the only new-construction property of its kind (and price).
Home sales in this price range are rare. Hedge funder Kenneth Griffin paid $238 million for a Central Park South penthouse in 2019.
But with the balance of power shifting to the Sunshine State and Donald Trump‘s “Southern White House” of Mar-a-Lago, the area has become attractive to megadeals. And the market certainly is bullish: Of late, Florida real estate consistently fills the Realtor.com® list of the most expensive properties each week.
Ocean-to-lake estate
As for this pre-construction estate, the expansive lot stretches from the Atlantic Ocean to the Intracoastal Waterway, delivering “unrivaled views, privacy, and exclusivity,” according to a press statement.
Designed to “set a new standard for luxury living,” this “architectural masterpiece” represents a rare opportunity to own a property of extraordinary scale and significance.
“This estate is the culmination of vision, craftsmanship, and location, blending unmatched amenities with the tranquility of Manalapan’s coastal lifestyle,” Satter said in a statement.
Spanning an expansive 54,570 square feet (roughly the size of the White House), the property includes a beach house, guesthouse, boathouse, and car “museum.”
The ocean-to-lake estate is set on almost 4 acres. (Gladstone Media Inc.)
A rendering of the car “museum” (Gladstone Media Inc.)
A rendering of the bowling alley (Gladstone Media Inc.)
Amenities include a bowling alley, wine cellar, “state-of-the-art” gym and spa, home theater, golf simulation room, padel court, and indoor shooting range.
The landscaped grounds boast a 3,700-square-foot infinity pool area, waterfalls, and lagoons.
The property comes with a private dock and more than 700 feet of combined Intracoastal Waterway and ocean frontage.
Created by the firm Choeff Levy Fischman Architecture + Design, built by
Robert W. Burrage of RWB Construction Management, and designed by Marc-Michaels Interior Design, the home is to be delivered fully furnished.
The property is represented by Nick Malinosky of The Exclusive Group at Douglas Elliman.
