A $95 million mansion is about to hit the market in Manalapan, Fla. — a significant increase from its not-too-distant purchase price.
The seller is the prolific celebrity developer Joe Farrell, whose clients have included Madonna and Justin Bieber.
Farrell paid $32.5 million for the property in January — only to tear it down and start anew.
The new-construction oceanfront home at 1140 S Ocean Blvd., set to be the most expensive listing in the area 10 miles south of Palm Beach and 9 miles north of Delray Beach, is slated for completion in October of 2025.
The news comes a week after billionaire Larry Ellison, founder of software giant Oracle, bought the beachfront Eau Palm Beach Resort & Spa in Manalapan at 100 S Ocean Blvd., which had asked a stratospheric $300 million. The hotel dates to the 1950s when it was known as La Coquille Club and where guests included the Vanderbilts, the Fords, the Rockefellers and US presidents. The plan, sources tell Gimme Shelter, is to turn the 16-acre estate into a Nobu-branded hotel.
Ellison’s hospitality portfolio includes Nobu Ryokan Malibu; Nobu Hotel Palo Alto; Sensei Porcupine Creek near Palm Springs, Calif.; the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Nevada; and the Four Seasons Resort Lanai and Sensei Lanai, a Four Seasons Resort, both in Hawaii.
The Farrell-built residence will be just south of the Eau, on the ocean and the Intracoastal Waterway. The home will be 15,000 square feet with nine bedrooms, and will come with a 4,000-square-foot guest house with four bedrooms. There will also be a deep-water dock, an oceanside pool, a front yard pool and a pickleball court.
Ellison also owns the largest private residence in Manalapan. Other residents include Billy Joel, Tony Robbins and Farrell himself, who has owned a home there for two decades.
