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.
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.