The Real Deal Miami

Software exec sells new Manalapan mansion to ex-wife for $29M

Dan Kloiber's trust was valued at $310M in 2008, when it purchased the property

November 15, 2016 05:15PM
By Katherine Kallergis

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Rendering of 1040 South Ocean Boulevard in Manalapan and Dan Kloiber

Rendering of 1040 South Ocean Boulevard in Manalapan and Dan Kloiber

Software executive Daniel Kloiber’s trust sold a waterfront Manalapan mansion to an entity tied to his ex-wife for $29.45 million.

Records show PNC Delaware Trust, acting as trustee of Kloiber’s dynasty trust, sold the property at 1040 South Ocean Boulevard to Whimsical Florida LLC, a company based at Beth Ann Jenkins Kloiber’s Lexington, Kentucky home.

The Kloibers married in 2001 and got divorced in 2010. Their divorce was tangled in legal battles tied to Dan Kloiber’s dynasty trust, which is usually set up to bypass transfer taxes between generations. Dan Kloiber co-founded Exstream Software and invested stock from the company into the trust, which was valued at $310 million by 2008, according to a Forbes article.

The couple bought the 2.14-acre property in 2008 for $9.225 million, records show, and broke ground on the Mediterranean-style home with a guest house, pools and patios in 2010. Jupiter-based Casto Homes Inc. was the general contractor, according to Palm Beach County records. The Kloibers also replaced a 200-foot seawall that same year.

Records show PNC provided a $248,000 mortgage for the property, which was paid off three years later in 2013.

Brennar Real Estate represents the ownership of the “partially constructed” home at 1040 South Ocean Boulevard, according to its website.

The property was not listed on the MLS, but a number of pricey homes are on the market in Manalapan. At the top is the Ziff family’s massive estate that’s asking $195 million, one of the country’s most expensive homes up for grabs.

This summer, venture capitalist Stewart A. Satter sold the 16,000-square-foot estate at 1400 South Ocean Boulevard for $25.2 million, or about $1,575 per square foot.

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