Manalapan is a small town in South Florida with more than 400 year-round residents, about 70 parcels and not much else. Most people, even some who live near Miami, have never heard of it.
But local real estate agents and residents say people familiar with the matter, including Billy Joel and Tony Robbins, have expressed concern about moving to Manalapan since the COVID-19 pandemic. Interest soared. But unlike those who move to other parts of Florida, Manalapan’s new residents are more likely to become billionaires, thanks to the town’s sprawling oceanfront estates, relative privacy and high listing prices.
According to Zillow, estates are currently listed for as much as $80 million, with a median price of $16.8 million, but the typical home value in April was about $4.3 million, making Manalapan the most expensive place to live in the country one of the places.
“A lot of it has to do with people moving to Florida for tax reasons — a lot of people are moving their businesses,” said Nick Malinosky, a real estate agent with Douglas Elliman’s Exclusive Group. Brought here.
For the price, the buyer gets what resident and former Manalapan Mayor Stewart Satter calls “a magical little oasis.” Located between the Atlantic Ocean and the Intracoastal Waterway, the estates’ large lots and quiet surroundings attract residents of nearby Palm Beach. Malinowski noted that the town “is experiencing a lot of activity” — not just close to Palm Beach, but also close to Delray and Boca Raton. It has its own police and fire departments.
“The police department knows every resident,” said Robert Burrage, a local builder who has worked in the area for 17 years. “If your door is open after dark, the police will call to make sure everything is okay. It’s a very wealthy but quaint place.
Daniel Petroni Courtesy of The Exclusive Group
While it’s convenient to nearby cities’ restaurants, shopping, and nightlife, Manalapan itself is far removed from the hustle and bustle of the Miami area. That privacy makes it attractive to residents looking to slow down their lives and reduce traffic, including billionaire Oracle co-founder Larry Ellison, who recently spent a staggering $1.73 Billion dollar purchase of Manalapan estate, largest residential sale in state history. The property features 33 bedrooms, 34 bathrooms, a guest house, two cabins, a bird sanctuary, tennis courts, a PGA golf course and multiple under-road tunnels connecting the two parts of the property.
Tunnels are a feature of life in Manalapan: Many residents have built tunnels under State Highway A1A, which bisects much of the town. The tunnels – painted with murals and in some cases serving as art galleries – connect the houses to the sea, making it easier to get from one part of the estate to another. (They are not without controversy, as building them requires closing public roads for days at a time.) “When you say you have a tunnel, people flip,” Sutter said.
Another attraction of Manalapan is of course its natural beauty. Many properties have private docks for boat launches, and residents can enjoy secluded beaches where sea turtles nest and manatees swim. Homes are either on the waterfront with access to the Intracoastal Waterway or vice versa. Those whose homes don’t directly face the ocean can make up for it by building a 1,500-square-foot beach house.
“You get the best of both worlds — it’s very unique,” Malinowski added.
Daniel Petroni Courtesy of The Exclusive Group
Sutter’s experience in the region reflects how much it has changed over the past few years. In 2004, investors purchased four properties in Manalapan for a total of approximately $20 million. In early 2022, he sold a piece of land for $40 million. There is a pickleball court).
Redevelopment efforts are common in Manalapan, another draw for wealthy residents who don’t like to hear the word “no.” Burlage said the town is more open to different architectural styles than other nearby enclaves of the super-rich.
“Manalapan is open to the housing that people want to build,” Burrage said. “I see almost no pushback.”
Of course, Florida’s lack of a state income tax is paramount, said Sutter, who resigned as mayor after the state passed a new financial disclosure law.
“People say, I’ve had enough of the weather and high taxes, my kids have grown up,” he said of his decision to move south. “It’s an absolutely beautiful little community. It’s special.
