Developer Michael Cantor sells oceanfront Manalapan estate for $28M

Property has been owned by Cantor family since late ‘80s

Miami /
Jun.June 03, 2021 01:30 PM
1160 South Ocean Boulevard (Cantor Companies)

1160 South Ocean Boulevard (Cantor Companies)

Cantor Companies CEO Michael Cantor parted with his oceanfront Manalapan mansion for $28 million.

Property records show Cantor’s 1160 Manalapan LLC sold the 20,075-square-foot estate at 1160 South Ocean Boulevard to a land trust managed by City National Bank of Florida.

The trust financed the purchase with a $20.3 million loan from HSBC Bank.

The Manalapan mansion, with seven bedrooms, nine bathrooms and 2.5 half-bathrooms, sits on a 1.7-acre lot. It has a tennis court, 160 feet of ocean frontage, and another 160 feet of frontage on the Intracoastal Waterway. The estate was built in 1995 and was recently renovated and expanded to include a home gym and spa addition, according to the listing. It’s been on and off the market since 2018, most recently asking $33.9 million in January.

Holly Meyer Lucas of Compass and Douglas Elliman’s Sara Eavenson and Missy McCloskey represented the seller. Casey Flannery of Equestrian Sotheby’s International Realty brought the buyer. Meyer and Flannery each declined to comment.

The property has been in the Cantor family for decades. Michael Cantor’s father, Edward Cantor, paid just over $1 million for the property in 1987.

Edward Cantor founded the New Jersey and Florida-based Cantor Companies in 1952, according to the construction firm’s website.

Ultra luxury home sales in Palm Beach County have exploded in recent months. Last month, the number of new signed contracts for single-family homes priced over $10 million in the county increased by more than 126 percent compared to May of last year, according to a Douglas Elliman report.

In March, the Ziff family sold their massive 15-acre estate in Manalapan for $94 million, six years after it hit the market. Before that, two mansions in Manalapan each sold for about $26 million.






    Related Articles

    arrow_forward_ios
    Inventory for single-family homes and condos fell, indicating a seller’s market (Getty)
    South Florida residential sales soar to $8B in June, led by luxury buys
    South Florida residential sales soar to $8B in June, led by luxury buys
    Apollo Global Management’s Josh Harris and Softbank CEO Marcelo Claure with the property (Getty)
    SoftBank’s Marcelo Claure sells Miami Beach mansion to Apollo co-founder for $32M
    SoftBank’s Marcelo Claure sells Miami Beach mansion to Apollo co-founder for $32M
    The Allison Island spec home with James Curnin and Adam Wyden (LPG, Columbia Business School)
    Hedge funder buys Allison Island spec home for $14M
    Hedge funder buys Allison Island spec home for $14M
    Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
    Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
    Does it come with a home theater? IMAX director buys oceanfront Palm Beach house for $29M
    Thomas Iovino and the Palm Beach property (Iovino via LinkedIn, Brown Harris Stevens via Realtor)
    Construction chief buys flipped Palm Beach spec mansion for $18M
    Construction chief buys flipped Palm Beach spec mansion for $18M
    Alan Jay Wildstein and the waterfront house (Alan Jay Automotive Network, Elmes Group Waterfront Estates)
    Car dealership mogul sells waterfront Fort Lauderdale home for $8M
    Car dealership mogul sells waterfront Fort Lauderdale home for $8M
    Miami has seen a constant stream of sales over the past several months (Getty)
    Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
    Skyrocketing Q2 resi sales leave little inventory in South Florida: Elliman
    Florida Panther Keith Yandle and his Fort Lauderdale house (Getty, Compass)
    Score: Professional hockey player Keith Yandle sells waterfront home in Fort Lauderdale for $6M
    Score: Professional hockey player Keith Yandle sells waterfront home in Fort Lauderdale for $6M
    arrow_forward_ios

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

    Loading...