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The Real Deal Miami

Flurry of high-end property sales brings attention to Manalapan

July 19, 2011 03:42PM

The recent sale of an ocean-to-lake Manalapan estate for $10 million is one of a string of similar property sales in the tiny town, the Sun Sentinel reported.

As recently reported, Donald and Marilyn Hedberg sold their seven-bedroom Manalapan home at 1920 South Ocean Boulevard to an unknown buyer after it sat on the market for only 120 days, said Diana Reed of Illustrated Properties, which represented the seller. The deed has not yet been recorded by Palm Beach County.

There are only 32 ocean-to-lake homes in Manalapan, and this is the third to have changed hands in the past few months, she told the Sentinel.

As previously reported, the former estate of German engineer Hans Behr at 960 South Ocean Boulevard sold for $10.5 million in April, and boxing promoter Don King sold his home at 900 South Ocean Boulevard in June for $15.95 million.

As The Real Deal recently reported, inventory in Manalapan is limited.

“We have no more inventory in Manalapn,” said developer Frank McKinney. “That’s how hot Malapan is. We’ve sold everything we had there.” [Sun Sentinel]