Spec home developer pays $10M for oceanfront lot

Pascal Nicolai will build a 12K sf mansion at the Manalapan property

Pascal Nicolai and the oceanfront property (Douglas Elliman, Sabal Development)
Pascal Nicolai and the oceanfront property (Douglas Elliman, Sabal Development)

UPDATED, June 22, 10:50 a.m.: Spec home developer Pascal Nicolai paid $9.9 million for an oceanfront lot in Manalapan where he plans to build a 12,000-square-foot mansion.

Nicolai bought the lot at 3050 South Ocean Boulevard, records show. The 55,000-square-foot property was purchased through 3050 S Ocean Blvd LLC.

Development plans call for a two-story mansion with six bedrooms and seven bathrooms, according to a release. The home will have an elevator, along with a movie theater, gym, garage and dock on the property. TOGU Design of Miami is designing the home and interior.

The property sellers were Kenneth and Andrea Brodlieb, who paid $7.9 million for the lot in October. Kenneth Brodlieb is the chairman of New York-based car dealership East Hills Auto Group.

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The lot was listed in March for $12 million then cut by $1 million in April. Christopher Leavitt with Douglas Elliman represented the sellers, and Gilles Dalco of Bonaparte Real Estate represented the buyer.

Nicolai is founder of Miami-based luxury homebuilder Sabal Development. Among his deals, Nicolai sold a waterfront home in Miami for $7 million in October.

Other recent sky-high deals in Manalapan include the $94 million sale of the Ziff family estate in March and earlier this month, Michael Cantor’s $28 million sale of his oceanfront mansion.