Manalapan Oceanfront Real Estate Market Update

In this Manalapan Oceanfront Real Estate Market Update, I want to go over the 2 most recent closed sales:

• 1880 S. Ocean Blvd - closed June 15, 2011
• 920 S. Ocean Blvd - closed June 7, 2011

 1880 S. Ocean Blvd

As you can see from this aerial shot of the home, it's an Ocean-to-Intracoastal Estate;  it has 150' private beach and direct ICW frontage with 100' dock.  The home is 8,332 sq ft under air, 5 bedrooms, 6 1/2 baths, 6 car garage, 60' lap pool, and built in 1989.  The home was last listed for $6.495 million and closed in June for $5,100,431.  If someone actually pulls up the history of this property, we'll see it first came on the market in January 2008 and originally listed for $13.5 million.  The previous owner, Mullenix, had purchased the home back in 1998 for $6 million.  This is a case of patience pays off.

920 S. Ocean Blvd

Again, we see what Manalapan is famous for, Ocean-to-Intracoastal Estates.  This home actually belonged to legendary boxing promoter Don King.  I should actually refer to this as homes, not just home, as two homes are involved with this sale.  It was actually Don's wife, Henrietta King, who had purchased these two properties back in 1999 for a total of $14.3 million.  The properties offered +3 acres of 'resort style living' filled with gardens & courtyards, two main residences with 17, 726 sq ft under air, 2 swimming pools, tennis court and everything else you would expect from a media room, music room, game room, beach side pool & spa and even a "sundae station."  This appeared to be a quick sale, with the home listed for a total of 68 days on the market.  The list price was $19.995 million, but had previously been listed in 2009 for $27.5 million.  The property ended up closing in June for $15,950,000.  It looks like Don probably came out close to even on this one after commissions and title work.

Craig Greenberg, realtor

(561) 376-8540 cell

OceanfrontHomesForSaleinFlorida.com

info@LuxuryOceanMarket.com