Manalapan Spec Mansion Next to Larry Ellison Lists for $285M

An oceanfront estate planned in Manalapan is hitting the market for $285 million, marking the second-most expensive home for sale in Florida.

If it sells at or near that price, it would set a new record for single-family home sales in the state, and mark one of the priciest home sales in the country. It’s next door to Larry Ellison’s 16-acre estate, which holds the record for the most expensive home sale in Florida.

Former Manalapan Mayor Stewart Satter, a spec developer who made his fortune in the consumer testing industry, owns the 4-acre property at 1960 South Ocean Boulevard. Satter paid $27.5 million for the ocean-to-Intracoastal Waterway property in March of last year, records show. He had the previous home torn down.

He plans to build a nearly 55,000-square-foot estate with a shooting range, bowling alley, car museum, golf simulator room, padel court, gym and spa, according to listing details. Douglas Elliman agent Nick Malinosky of the Exclusive Group is listing the property.

The main 50,390-square-foot house will have eight bedrooms, nine bathrooms, seven half-bathrooms and two kitchens.

Satter tapped Robert Burrage of RWB Construction Management to build the estate and Mark Tremblay of Marc-Michaels Interior Design to design the interiors. Choeff Levy Fishman is the architect of record. It will include a beach house, guest house, boat house, two pools, waterfalls and lagoons, according to a press release.

Ellison, the billionaire co-founder of Oracle, paid $173 million for the estate next door in 2022. Netscape’s Jim Clark sold the property.

Satter leads the spec home development company called Carnegie Hill Development. He previously led Consumer Testing Laboratories, a firm that tested products for big box stores. He resigned as mayor of Manalapan in 2023 following a change in financial disclosure rules that required he disclose his net worth, according to WPTV.

The second most expensive home sale in Florida was the $150 million trade of the nearly 30,000-square-foot mansion at 10 Tarpon Isle in Palm Beach. Spec home developer Todd Glaser and his partners sold the island property to Australian infrastructure investor Michael Dorrell last year.