Board OKs design for $285M ‘spec’ mansion to be built near Palm Beach
Developer and former Manalapan Mayor Stewart Satter has set a price of $285 million for the mega-mansion he is planning to build on speculation at 1960 S. Ocean Blvd. near Palm Beach.
Video: The 32nd Annual Worth Avenue Pet Parade and Costume Contest
Video: The 32nd Annual Worth Avenue Pet Parade and Costume Contest off Worth Avenue in Via Amore Saturday March 8, 2025.
- With its $285-million asking price, the as-yet-unbuilt contemporary-style estate is being promoted as the most-expensive new-construction single-family home brought to market in the country.
- The mansion would preside over four ocean-to-lake acres, next door to the massive estate owned by software billionaire Larry Ellison of Oracle Corp.
- The property at 1960 S. Ocean Blvd. in Manalapan has 350 feet of beachfront and another 350 feet on the Intracoastal Waterway.
- With 54,570 total square feet of living space, inside and out, the estate would include an eight-bedroom main house, a guesthouse, a smaller beach house and a boat house.
Manalapan developer and former Mayor Stewart Satter last week earned approval from the town’s Architectural Commission for the design of a mega-mansion he plans to develop on speculation and already has listed at a whopping $285 million.
The Palm Beach Daily News in January reported the listing of the in-the-works ocean-to-lake estate at 1960 S. Ocean Blvd. in the wealthy town south of Palm Beach.
Satter plans to develop the estate through his company, Carnegie Hill Development. He is working on the project with home builder Robert W. Burrage of RWB Construction Management and the architectural firm of Choeff Levy Fischman Architecture + Design. Marc-Michaels Interior Design will handle the interior decoration.
The contemporary-style estate is being promoted as the most-expensive new-construction single-family home brought to market in the country. The price also ranks among the highest-dollar asking prices sought for a non-ranch residential property marketed through a U.S. multiple listing service
If built, the mansion would preside over four ocean-to-lake acres, next door to the massive estate owned by software billionaire Larry Ellison of Oracle Corp. Ellison also owns the Eau Palm Beach Resort and Spa in Manalapan.
The planned estate would preside over a property with 350 feet of oceanfront and another 350 feet on the Intracoastal Waterway. With 54,570 total square feet of living space, inside and out, the estate would include an eight-bedroom main house, a guesthouse, a smaller beach house and a boat house.
Satter serves as chairman of the Architectural Commission but did not attend the June 4 meeting when the board reviewed the project for the first time. The vote to approve the design was unanimous.
Agent Nick Malinosky of The Exclusive Group at Douglas Elliman Real Estate has the listing.
In January, Satter said the asking price — the highest ever set for an MLS-listed property in Manalapan or Palm Beach — is justified because of the size of the property and the quality of the planned house, which could cost as much as $150 million to build.
“It’s a house unlike any other on a lot unlike any other,” Satter said at the time. “It just doesn’t exist anywhere at any price.”
On June 10, Satter said he did not have a firm timeframe yet for breaking ground on the estate, because he is still working with “a very large number of subcontractors” to obtain pricing data, given the “scale of the project.”
Under Manalapan zoning rules, the bulk of the estate would comprise a mostly vacant oceanfront parcel with the beach house and a boardwalk leading to the shore. On the opposite side of the coastal road, the smaller lakeside parcel would be home to the main house and guesthouse.
The estate also has a roadside tunnel from the lake parcel to the beach parcel. The estate is among only a handful in Manalapan with a tunnel to the beach.
Among the estate’s planned features are a private bowling alley, a movie theater, a gym-and-spa facility and a game room. The preliminary plans also call for a golf-simulation room, a shooting range, a padel court and a “car museum,” which is described in publicity materials as “the perfect showcase for prized vehicles.”
Water features are a major component of the estate’s design. A 3,200-square-foot pool has been designed for the front of the property, while a 3,700-square-foot rear infinity-edge pool with an acrylic wall will offer uninterrupted views of the Intracoastal Waterway.
Satter used an ownership company to buy the property in 2024 for a recorded $27.5 million and then razed a mansion there. That Mediterranean-style house was built in 1989 with 35,341 total square feet of living space, indoors and out.
Douglas Elliman handled both sides the March 2024 sale, when Satter’s company bought the property from a Florida limited liability company named after the property’s address. That entity had owned the property for three years. The agents involved in that deal were Malinosky and former Elliman agent Gary Pohrer, who today is affiliated with Serhant.
Satter is the former president and CEO of Consumer Testing Laboratories, a group of independent labs specializing in testing and analyzing consumer products for U.S. retailers. The company was sold to Underwriters Laboratory in 2016. He also is the founding principal partner of New York City-based NYU Stern School of Business Endless Frontier Labs, a science and technology startup accelerator; and a former partner of City Light Capital, a social venture firm in New York City.
Developing real estate, Satter said in January, “is a very passionate hobby for me.”
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To see more renderings of the planned estate at 1960 S. Ocean Blvd. in Manalapan, click on the photo gallery near the top of this page.
Portions of this story appeared previously in the Palm Beach Daily News.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email [email protected]. Help support our journalism. Subscribe today.
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