Billionaire Universal Health Services founder Alan B. Miller sold his longtime oceanfront Manalapan home for $18.3 million.
Miller and his wife, Jill Miller, dealt the house at 3 Ocean Lane to a couple from California, listing agents Antonio Liguori and Pat Liguori of Premier Estate Properties confirmed. The deed has yet to update in public records and the true buyers are unknown.
Matthew Moser and Nicholas Gonzalez of Serhant brought the buyer.
Miller is the founder and executive chairman of Universal Health Services, one of the largest hospital and health care service providers in the United States. King of Prussia, Pennsylvania-based Universal Health Services owns more than 400 facilities and has more than $14.3 billion in annual revenue, according to its website. Miller has a net worth of $2.1 billion, according to Forbes.
He and Jill Miller bought the Manalapan home for $2.3 million in 1992, property records show. The 7,200-square-foot house was built in 1990 on a half-acre with 75 feet of oceanfront. They completed an extensive renovation in 2001. The home includes five bedrooms, six bathrooms, one half-bathroom and a pool.
The Millers listed the house for $23 million in March, according to Realtor.com. Before putting it on the market, the couple bought a waterfront house in Jupiter’s gated Admirals Cove community for $14.1 million in February, according to property records. The deed ties him to an estate in Gladwyne, Pennsylvania known as Clifton Wynyates, which was the former home of one of the founders of Brown Brothers Harriman, the nation’s oldest investment bank.
Manalapan has become a magnet for wealthy buyers since the onset of the pandemic. In 2022, billionaire Oracle co-founder Larry Ellison set a Florida residential price record when he bought a 16-acre compound for $173 million. Deals like that put Manalapan on the map, especially with the influx of out-of-state buyers, Antonio Liguori said.
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“Ten years ago there were no California buyers,” he said.
Well-heeled buyers are drawn to the town’s oceanfront estates, which sell at a much lower price point than in nearby Palm Beach, Liguori said. The town has another selling proposition: safety.
“Security is probably the top thing people value the most,” he said. “They’re leaving states that don’t have that as a priority.”