David MacNeil Acquires $38.5M Oceanfront Estate In Manalapan With Compass Rep
1120 South Ocean Boulevard
$38,500,000
$3,722/SF
Building Size
10,344 SF
Asset Type
Single Family
Closing
May 2, 2024
AI
The oceanfront estate at 1120 South Ocean Boulevard in Manalapan was recently sold for $38.5 million to David MacNeil, the founder of WeatherTech. The 2-acre property features an 8-bedroom mansion, two pools, a mini-golf course, and 193 feet of ocean and Intracoastal Waterway frontage. Designed by architect John Volk, this luxurious estate showcases stunning amenities and prime waterfront views.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $38,500,000
- Market: Manalapan
- Square Footage: 10,344
- Price per Square Foot: $3,722
- Buyer: David MacNeil - WeatherTech
- Buyer's Representative: Tim Elmes - Compass
- Seller's Representatives: Gary Pohrer & Nicholas Malinosky - Douglas Elliman
Tim Elmes of Compass represented the buyer, David MacNeil, in the acquisition of this exquisite oceanfront property. The sale marks another significant investment by MacNeil in South Florida's luxury real estate market, following his prior $40 million sale in Fort Lauderdale. The deal was successfully orchestrated by Gary Pohrer and Nick Malinosky from Douglas Elliman, highlighting MacNeil's active involvement in acquiring premium real estate assets.
Players
Lantana Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93