Oceanfront mansion in Manalapan sells for $19M

Seller paid $8.3M for the lot in 2005

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.

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