In the serene coastal enclave of Manalapan, where the Atlantic Ocean meets the Intracoastal Waterway, a bold vision of opulence is coming to life. Developer Stewart Satter, leveraging his experience as the town’s former mayor, has set the stage for a transformative real estate venture. With an asking price of $285 million, the estate at 1960 South Ocean Boulevard challenges conventional notions of luxury and underscores the shifting dynamics of South Florida’s high-end real estate market.
Beyond the Numbers: Anatomy of an Ultra-Estate
Stretching across nearly four acres, the planned estate features an approximately 50,000-square-foot main residence, designed to function as a self-contained private resort. This ambitious property goes far beyond traditional luxury with its comprehensive list of amenities, including:
- A private bowling alley and golf simulator.
- A state-of-the-art shooting range and movie theater.
- A car museum for automotive enthusiasts.
- A padel court and game room for recreational activities.
- A private underground tunnel providing direct access to the Atlantic beachfront.
These features not only enhance the estate’s appeal but also set a new benchmark for what constitutes ultra-luxury in residential living.
The Development Journey
Satter’s acquisition of the property in March 2024 for $27.5 million marked the beginning of its transformation. By demolishing the existing 1980s Mediterranean-style mansion, Satter embraced a broader trend in luxury real estate—a shift from traditional ornate designs to sleek, modern interpretations of elegance. The project’s development, in collaboration with RWB Construction Management and Choeff Levy Fischman architects, reflects a meticulous approach to balancing grand ambition with practical execution. Completion is anticipated in 2026.
Manalapan’s Evolution: An Exclusive Enclave for the Elite
With a population of just 400 residents, Manalapan epitomizes the rise of South Florida’s coastal communities as sanctuaries for the ultra-wealthy. The town has attracted high-profile residents, including Oracle co-founder Larry Ellison and Fox News host Sean Hannity, underscoring a migration of wealth to this idyllic area. Such developments illustrate how small, intimate communities are transforming into hubs of exclusivity, raising questions about local governance and the preservation of community character amidst such rapid evolution.
Market Context and Implications
Nick Malinosky of Douglas Elliman, the listing agent for this record-breaking property, emphasizes the estate’s unparalleled 700 feet of combined ocean and Intracoastal frontage. While the physical attributes are undeniably impressive, the estate’s $285 million price tag represents more than a number—it signals a societal shift. In a post-pandemic world, South Florida has solidified itself as a primary residence market for ultra-high-net-worth individuals, redefined by wealth concentration, architectural ambition, and changing notions of home.
A Broader Perspective: The Future of Luxury Real Estate
This project stands as a symbol of South Florida’s transformation into a global destination for luxury living. It speaks to more than just bricks and mortar; it reflects evolving market dynamics, societal changes, and the aspirations of today’s elite homeowners. As properties like 1960 South Ocean Boulevard redefine the boundaries of what’s possible, they also provide a lens through which we can understand broader economic and cultural trends.
The Edmund Bogen Team: Your Gateway to South Florida Luxury
Whether you’re drawn to estates like Manalapan’s $285 million masterpiece or searching for a unique property that fits your vision, the Edmund Bogen Team at Douglas Elliman is your trusted partner. With unparalleled expertise and a personalized approach, we don’t just sell homes—we curate lifestyles. Because when it comes to luxury, why settle for anything less than exceptional? Contact us today.