Ocean-to-Intracoastal estate in Manalapan fetches $29M

Seller built the home in 2013

G. John Krediet and the Manalapan property (LinkedIn via Krediet, Corcoran via Douglas Elliman)
G. John Krediet and the Manalapan property (LinkedIn via Krediet, Corcoran via Douglas Elliman, Daniel Petroni Photography)

An ocean-to-Intracoastal estate in Manalapan sold for $29.1 million.

Records show G. John Krediet sold the property at 1780 South Ocean Boulevard to a Delaware corporation, 1780 SOB LLC. The buying entity took out a $20 million loan from First Republic Bank, according to records. James Robinson signed as the borrower.

Krediet is the founding partner of Darien, Connecticut-based C.F. Capital Management. Founded in 1987, the firm manages a global portfolio of investments in North America, Europe and Asia, according to its website.

Krediet is also chairman of Clairvest Group and Can-Eng Furnaces International Limited, according to his LinkedIn page.

A venture capitalist with the same name as the buyer is the founder and general partner of RRE Ventures, an early-stage venture capital firm headquartered in New York City. Robinson’s father, James Robinson III, was formerly CEO of American Express and is also a partner at RRE, according to Forbes.

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Krediet purchased the 1.9-acre property in 2010 for $4 million, records show. He filed to construct a new house in 2011. It was finished in 2013.

The mansion was listed in April for $35 million. Nicholas Malinosky and Randolph Ely of Douglas Elliman represented the seller, and Suzanne Frisbie, formerly of Premier Estate Properties and now with the Corcoran Group, represented the buyer.

According to the listing, the three-story house has 11,360-square-feet of living space with five bedrooms, seven full bathrooms and three half-bathrooms. The home was sold fully furnished and also includes a wine cellar and a four-car garage.

The nearly 2-acre property features 160 feet of ocean and Intracoastal Waterway frontage, as well as a beach house and private dock, according to the listing.

Manalapan has seen plenty of expensive home sales this year. Last month, spec home developer Pascal Nicolai bought an oceanfront lot for $9.9 million, and the CEO of Cantor Companies sold his mansion for $28 million. In March, the Ziff family sold an estate for $94 million that was originally listed for just under $200 million.