Oceanfront mansion in Manalapan sells for $19M

Seller paid $8.3M for the lot in 2005

Miami /
Dec.December 27, 2018 12:30 PM

1500 South Ocean Boulevard

An oceanfront mansion in Manalapan that once asked as much as $34 million just traded hands for a little more than half that amount.

Robert G. Schemel, trustee of a revocable trust in his name, paid $19 million, or about $1,630 per square foot, for the six-bedroom, 11,673-square-foot home at 1500 South Ocean Boulevard, property records show.

Michael C. Marcon sold the property as a representative of the estate of his late father Frederick Marcon, who founded the public data analytics and risk assessment company Verisk Analytics, formally Insurance Services Office.

Records show Fred Marcon bought the 1.6-acre lot in 2005 for $8.29 million. The home, built in 2008, has been on and off the market since 2017. Its last asking price was $24.9 million.

Kathryn Gillespie of Illustrated Properties in Manalapan had the most recent listing. It’s the second-most expensive Manalapan sale in 2018, according to a press release  The buyer was represented by the Corcoran Group, according to Realtor.com.

The home, designed by Randall Stofft Architects, features a gym, home office, an elevator, a four-car garage and a pool and spa.

Manalapan has attracted a number of celebrities and billionaires. Motivational guru Tony Robbins and New Age musician Yanni own homes in Manalapan, as did boxing promoter Don King and Billy Joel.

Frederick Marcon founded ISO in 1971. The company became a subsidiary of Verisk Analytics in October 2009. He passed away last year.


Related Articles

arrow_forward_ios
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
George Bachiashvili & 980 South Ocean Boulevard, Manalapan (Linkedin, Google Maps)
Georgian venture capitalist sells Manalapan lot for $17M
Georgian venture capitalist sells Manalapan lot for $17M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Kenneth Brodlieb and 3050 South Ocean Boulevard, Manalapan (Realtor, Hofstra)
Auto group chairman buys oceanfront Manalapan lot for $8M
Auto group chairman buys oceanfront Manalapan lot for $8M
640 South Ocean Boulevard (Credit: Zillow)
Oceanfront mansion in Manalapan sells for $36M
Oceanfront mansion in Manalapan sells for $36M
Gables Town Colony apartment complex, Sue Ansel of Gables Residential
Gables Residential scores $85M loan for Boca Raton apartment complex
Gables Residential scores $85M loan for Boca Raton apartment complex
Christian Angle and 1920 South Ocean Boulevard
Car dealer buys waterfront Manalapan estate for $10M
Car dealer buys waterfront Manalapan estate for $10M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...