Off the market: $195 million mansion in Manalapan no longer listed

The Ziff estate in Manalapan grabbed headlines when it went on the market in early 2016. With a price tag of $195 million, it would have eclipsed Palm Beach County’s record mansion sale by $100 million.

RELATED COVERAGE: Nice payday canceled: How much a buyer’s agent would have made from Manalapan mansion sale

Now, though, the property is off the market. It no longer appears on Realtor.com or Zillow.com, sites that show properties marketed in the multiple listing service. Nor is the Ziff estate on the site of Premier Estate Properties, the company that was marketing the mansion. No deed has been recorded recently by the Palm Beach County Clerk’s Office.

According to the MLS, the listing was canceled after 456 days on the market.

The 15.7-acre estate at 2000 S. Ocean Blvd. includes 1,200 feet of oceanfront, a 33-room mansion and a tunnel under A1A. It had been shopped off the MLS for about a year before it hit the listing service last year.

Palm Beach County’s mansion market has cooled noticeably over the past year.

 

Palm Beach County’s mansion market still soft, broker’s numbers show

Prices in Palm Beach County’s mansion market remained soft in the first quarter, according to a report released Thursday by brokerage Douglas Elliman. That continues a downward trend in mansion prices that emerged in the fourth quarter.

 

The most dramatic price declines came in Palm Beach, where the average sales price of the top 10 percent of houses fell 23 percent to $7.2 million. The median sale price was off 29 percent, to $5.8 million.

Yet the average price per square foot climbed 10 percent to $1,493. That shows the market isn’t crashing, just shifting to smaller homes, said Jonathan Miller, the New York analyst who prepared Douglas Elliman’s report.

“The bigger product isn’t moving, and the sales are skewing to the lower end,” Miller said.

Other findings, for the top 10 percent of single-family sales in each market:

  • In Delray Beach, the average sales price plunged 38 percent to $2 million and the average price per square foot fell 25 percent to $414. The median sale price was off 12 percent, to $1.7 million.
  • In Jupiter, the average sales price fell 1 percent to $2.4 million and the average price per square foot dipped 1 percent to $469. The median sale price cratered 25 percent, to $1.8 million.
  • In Wellington, the average sales price rose 14 percent to $1.7 million and the average price per square foot jumped 24 percent to $426. But the median sale price plummeted 33 percent, to $1 million.

Palm Beach County’s five priciest mansions mapped

1500 S. Ocean. Photo courtesy Sotheby’s International Realty

Palm Beach County’s five priciest mansions for sale include the $195 million Ziff estate in Manalapan and Netscape founder Jim Clark’s Palm Beach spread, on the market (but not in the MLS) for $137 million.

Rounding out the top five are a $75 million listing in Palm Beach, and Palm Beach mansions listed at $69.9 million and $59.5 million. See them on a map here:

Big deal: Palm Beach mansion fetches $77 million

Is the mansion market springing back to life? Perhaps. The mansion at 60 Blossom Way in Palm Beach just traded for $77 million, according to property records.

The seller was Venezuelan banker Victor Vargas. He paid $68.5 million for the property in 2008.

Palm Beach County’s mansion market was dormant for much of 2016. But in January, a Palm Beach property fetched $85 million. The Shiny Sheet’s Darrell Hofheinz has more details.

A new record for a Manalapan mansion: See how much it sold for

1370 S. Ocean Blvd. in Manalapan as it once looked.

The mansion at 1370 S. Ocean Ave. in Manalapan just sold for $40 million, setting a new price record for houses in the tony town.

The 35,000-square-foot estate includes 300 feet of ocean frontage. A deed lists the seller as EB ESM31 LLC of Boca Raton and the buyer as Borgoves Ltd. of Manalapan.

The home was listed for $48.9 million.

The sale of 1370 S. Ocean eclipses Manalapan’s previous record of $33 million for the oceanfront estate at 800 S. Ocean Blvd. It sold in September 2015.

It’s not Manalapan’s priciest deal ever, though. Mansion builder Frank McKinney in 2005 paid $42.5 million for 8.8 acres of vacant land along the ocean.

And the Ziff estate in Manalapan has been on the market for $195 million since 2015.

Jailed doctor sells Manalapan mansion for $20 million

 

840 South Ocean, Manalapan, is on the market for $27.5 million. Photo courtesy Douglas Elliman

Dr. Krishna Tripuraneni, who’s serving a federal prison sentence for tax fraud, just sold his oceanfront mansion in Manalapan for $20.2 million, according to a deed.

The 16,000-square-foot home is at 840 S. Ocean Blvd. The mansion had been on the market for $27.5 million.

The buyer is an entity identified only as 840 South Ocean Boulevard Land Trust.

Tripuraneni, a gastroenterologist, failed to report $18 million in income from 2004 to 2008, federal prosecutors charged. In 2015, he was sentenced to two years and was ordered to pay the IRS $11.8 million in delinquent taxes, interest and penalties.

The feds said Tripuraneni used unreported income to build his extravagant Manalapan home and make mortgage payments on condominiums. He reportedly also used the money to pay tuition expenses for his children.

 

Manalapan property once owned by Don King sells for $28 million

Don King at a rally for Donald Trump
Don King at a rally for Donald Trump

The oceanfront mansion at 920 S. Ocean Blvd. in Manalapan just sold for $28 million, according to property records.

The seller was 920 South Ocean Blvd. LLC, an entity associated with Charles Davidson, the chief investment officer of Wexford Capital in Hartford, Connecticut. The buyer is JSEJ LLC of Philadelphia.

Boxing promoter Don King sold the property in 2011 for $8.9 million. The new owner tore down the old house and build a new 14,000-square-foot mansion. Christian Angle, the agent who listed the property, declined to comment.

Another price cut for Palm Beach’s priciest mansion

The mansion at 1071 N. Ocean Blvd. in Palm Beach. Courtesy Smith and Moore Architects.
The mansion at 1071 N. Ocean Blvd. in Palm Beach. Courtesy Smith and Moore Architects.

The most expensive listing in Palm Beach got a little less expensive on Friday. The mansion at 1071 N. Ocean Blvd. is now asking $69.9 million.

Originally listed at $84.5 million, the seller cut the price in 2015 to $79.5 million, then reduced the price in 2016 to $74.5 million. The listing agent is Christian Angle.

The oceanfront mansion includes a basement with space for a bowling alley.

It’s the most expensive Palm Beach property in the multiple listing service. Palm Beach County’s most expensive listing when the Ziff estate in Manalapan hit the market for $195 million.

After $3.5 million price cut, mansion in Jupiter’s Bears Club back on market

bears-club-pool
191 Bears Club Drive. Photo courtesy Billy Nash

The mansion at 191 Bears Club Drive in Jupiter didn’t find any takers at $13.5 million. Now the estate is on the market at $10 million and is getting a marketing push from its new listing agent.

“The property is priced appropriately,” said Billy Nash of Keyes Co. Realtors.

The 12,555-square-foot spread is owned by Marie Feldman. It includes a 2,000-square-foot master bedroom, a sauna and a hallway with built-in wall niches to display paintings.

Bears Club is the exclusive community that boasts a golf course designed by Jack Nicklaus and a 40,000-square-foot mansion owned by Michael Jordan.

Frank McKinney completes “micro-mansion”: See how much he’s asking

Rendering of Frank McKinney's "micro-mansion" in Ocean Ridge. Courtesy Frank McKinney
Rendering of Frank McKinney’s “micro-mansion” in Ocean Ridge. Courtesy Frank McKinney

Mansion builder Frank McKinney has completed his latest creation, and it’s far different from the oceanfront mansions he typically builds. The 4,000-square-foot “micro-mansion” at 19 Tropical Drive in Ocean Ridge is not on the ocean, and it’s priced at the comparatively modest sum of $3.9 million.

The listing agent is Pascal “Pat” Liguori of Premier Estate Properties in Boca Raton. The house is a dramatic departure for McKinney, who long specialized in oceanfront palaces. The idea, he said earlier this year, is that super-wealthy buyers want luxury but not the hassles of owning massive palaces.

“They want all the grandeur, all the opulence, all the artistry we’re offering, but they don’t want it in 10,000 square feet,” McKinney said.

According to the listing:

“Unique amenities include a 650 sq. ft. master bedroom suite with azure-blue glass vanity tops and a second floor glass shower with trees reaching into it, extremely rare sea-glass kitchen countertops, a dining table crafted from a single piece of driftwood, an LED-illuminated living reef aquarium wall, a sun deck floating between two pools + a wading pool, numerous illuminated water walls, and exotic tropical foliage.”