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Manalapan Estate Sells For A Record $173 Million!

A firm connected to billionaire Oracle founder Larry Ellison paid a Florida record of $173M for a residential estate in Manalapan.

The 2000 S. Ocean Trust, with local attorney Ronald Kochman as trustee and widely reported to be led by billionaire Netscape Founder Jim Clark, sold the 15.55-acre property at 2000 S. Ocean Blvd to Florida Realty LLC, which listed the same address and suite number in Walnut Creek, California, as the Larry Ellison Foundation. It was an off-market deal.

The Malapan home last traded for $94.17 Million in March 2021, when it was sold by the Ziff family.

The property has four main buildings totaling 25,470 square feet, under air. The main house which is 20,55-97 square feet, was built in 2002. The buildings have a combined 33 bedrooms, 34 bathrooms and 13 half-bathrooms. Plus, a media room and a wine cellar. The property has 1,200 feet of beachfront and 1,300 feet along the Intracoastal Waterway just north of the Inlet. The land includes a P.G.A. quality golf course, a tennis court, a half-basketball court, a pool, a botanical garden and multiple docks.

While Ocean Blvd. divides the property in Half, there is a private tunnel underneath the road that doubles like a gallery.

Other important real estate news in South-Florida, by the numbers:

$286.5 Million price that Rockpoint Group obtained for the office tower at 1221 Brickell Ave., Miami, FL.

$95.5 Million price that Cottonwood Capital paid for Linden Pointe apartments in Pompano Beach, FL.

15% drop in South-Florida single-family home sales in May, according to Florida Realtors.

14.8% drop in South-Florida/condo/ townhouse sales in May.

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