Ellison and MacNeil Expand Manalapan Estates With $67M Land Purchase

---

• Larry Ellison and David MacNeil jointly paid $67 million for the 4-acre ocean-to-Intracoastal parcel at 1960 South Ocean Boulevard in Manalapan, splitting it between their two adjacent estates.
• Seller: developer and former Manalapan Mayor Stewart Satter, who bought the site for $27.5 million and listed it at $285 million before relisting the raw land at $75 million in November 2025.
• At $67M, Ellison and MacNeil closed $8 million below ask and handed Satter a $39.5 million gain on the land.
• The sale leaves no comparable oceanfront parcel available on that stretch of South Ocean; Ellison and MacNeil now control the block.

Two Neighbors, One Parcel, No Bidding War

The most efficient real estate deal in Manalapan history may also be the most obvious. Larry Ellison and David MacNeil paid $67 million for the 4-acre oceanfront site at 1960 South Ocean Boulevard, the parcel sitting between their existing estates, and split it along the property line. Each billionaire took the half adjacent to his own compound. No third-party buyer ever had a chance.

Douglas Elliman's Nicholas Malinosky, who had the listing, represented seller Stewart Satter.

The Site That Stumped the Market for Three Years

Satter, a developer and the former mayor of Manalapan, assembled the 4-acre ocean-to-Intracoastal site at 1960 South Ocean for $27.5 million. The parcel stretches 350 feet on the Atlantic side and 350 feet on the Intracoastal dual-water exposure at a scale that barely exists in South Florida anymore.

He launched it in 2022, attached to plans for a 55,000-square-foot megamansion priced at $285 million, a figure that would have made it one of the most expensive new-construction homes ever sold in the United States. The package included a bowling alley, car museum, shooting range, golf simulator, and private spa. Serious buyers came — reportedly five strong prospects, but most wanted to design their own estates rather than buy someone else's vision.

In November 2025, Satter pivoted to a land-only listing at $75 million. It found buyers immediately: the two men who already owned everything on either side. At $67 million, Satter walked away with a $39.5 million gain and no construction headaches.

What Ellison and MacNeil Are Protecting

Ellison's compound at 2000 South Ocean Boulevard, directly north of the acquired parcel, spans 16 acres ocean-to-lake and cost a Florida-record $173 million in 2022. In 2024, he added the Eau Palm Beach Resort & Spa at 100 South Ocean Boulevard for $277.4 million, bringing his Manalapan total to roughly $450 million. Absorbing the northern half of 1960 South Ocean extends its ocean buffer and eliminates the only site where an unknown buyer could have broken ground next door.

MacNeil's position directly south at 1940 South Ocean Boulevard, acquired for $68.3 million in February 2026, completes the picture. The WeatherTech founder and pending FTC chair nominee is one of South Florida's most active buyers this year, having bought and sold more than $207 million in residential real estate in the region since January alone. He sold his 3.6-acre 1120 South Ocean assemblage for a Manalapan land-sale record of $105 million in April 2026, just before this deal closed.

For MacNeil, the southern half of 1960 South Ocean gives his compound additional oceanfront depth and, practically speaking, guarantees his northern neighbor stays exactly who he is.

Manalapan Has No More Buffer to Sell

Manalapan is a town of roughly 400 residents and a coastline measured in feet. Before Ellison's 2022 acquisition reset the market, it was Palm Beach's quieter southern neighbor. Since then, the average asking price for a single-family estate has climbed to nearly $60 million, and listing agent Margit Brandt of Premier Estate Properties, who brokered several of MacNeil's transactions, has been direct about where prices are heading: "I genuinely believe Manalapan is undervalued."

The math on 1960 South Ocean supports her. At $67 million for 4 acres, the deal works out to roughly $16.75 million per acre of raw oceanfront land. Two years ago, that number would have been theoretical. Now it's a closed transaction and a new baseline with no comparable parcel left to test it against.