A Georgia entity sold an ocean-to-lake Manalapan estate for $25 million in an off-market deal, four years after buying it for $14 million.
Records show Ade 925 LLC, an entity managed by Max Beverly, sold the house at 1800 South Ocean Boulevard in Manalapan to Loki2 Land Trust, managed by City National Bank of Florida.
Beverly is based in Thomasville, Georgia, records show. Ade 925 LLC bought the South Ocean Boulevard estate for $14 million in 2021, equating to a $9 million price increase in four years.
The property spans 1.9 acres from the Atlantic Ocean to the Intracoastal Waterway. A 4,400-square-foot, four-bedroom house was built in 1976, according to property records. The Beverly-managed LLC filed plans to demolish the house, but it is unclear whether the demolition was completed.
The deal marks the latest pricey sale near billionaire Oracle co-founder Larry Ellison’s $173 million, 16-acre compound. Ellison’s estate holds the record for the most expensive home sale in Florida history. Manalapan’s former mayor, Stewart Satter, is building a spec mansion next door with a bowling alley and a shooting range that he’s listed for $285 million. He bought the 4-acre compound for $27.5 million.
More recently, plastics mogul David Frecka bought an oceanfront Manalapan estate for $49.1 million in February. In December, Fox News host Sean Hannity bought a lakefront mansion for $23.5 million.