Stewart A. Satter Acquires Ocean-to-Lake Estate In Manalapan For $27.5M

The 3.9-acre ocean-to-lake estate located at 1960 South Ocean Boulevard in Manalapan has been sold for $27.5 million. The property, purchased by Stewart A. Satter, features 12,221 square feet of space with a price per square foot of $2,250. The estate includes 350 feet of ocean and lakefront, as well as a tunnel to the beach. Satter, a real estate investor and former Mayor of Manalapan, intends to demolish the existing mansion on the property and explore potential redevelopment opportunities.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $27,500,000
• Market: Manalapan
• Agent: Gary Pohrer & Nick Malinosky - Douglas Elliman
• Buyer: Stewart A. Satter

Stewart A. Satter, the buyer of the 3.9-acre estate in Manalapan, was represented in the transaction by Gary Pohrer and Nick Malinosky from Douglas Elliman. Satter plans to either construct a new residence on the land or consider dividing the property into multiple plots for development.