Pascal Nicolai's Sabal Development Acquires Manalapan Development Site For $9.85M

A development site located at 3050 S. Ocean Blvd in Manalapan has been sold for a price of $9,850,000. The property spans approximately 55,000 square feet, resulting in a price per square foot of $179. The sale took place on June 16, 2021.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $9,850,000
• Address: 3050 S. Ocean Blvd
• Market: Manalapan
• BSF: 55,000
• PPBSF: $179

The buyer of the property is Pascal Nicolai, representing Sabal Development. Pascal plans to construct a new luxury home with an estimated size of 12,000 square feet. Gilles Dalco, from Bonaparte Real Estate LLC, acted as the buyer's representative in the transaction. The seller, Kenneth Brodlieb, was represented by Christopher Leavitt from Douglas Elliman.