After a $15 million haircut, billionaire Randal Kirk’s ocean-to-lake Manalapan estate is once again in contract.
It is one of the 21 contracts buyers signed between March 9 and March 15 for luxury properties in Palm Beach County, according to Douglas Elliman’s Eklund-Gomes team. The homes that went pending last week total $255.4 million in asking dollar volume and averaged 110 days on the market. The previous week, buyers signed 32 contracts totaling $304.9 million.
The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It identified 60 new listings, and 1,290 active listings on the market.
Of the properties that went pending last week, 19 were single-family homes, and two were condos. The average asking price for the condos was $5.7 million, or $1,572 per square foot. They spent an average of 117 days on the market.
The average asking price for the single-family homes was $12.8 million, or $2,017 per square foot, and they spent an average of 104 days on the market.
The most expensive listing to go pending last week was billionaire Randal Kirk’s ocean-to-lake Manalapan estate. Kirk’s 2.3-acre compound also topped contracts in January, when it was asking $90 million. The 15,500-square-foot mansion returned to market asking $75 million in February, a reduction of about 17 percent, and has once again found a possible buyer.
Kirk is a biotech mogul and the founder of Third Security, a private equity firm. He has a net worth of $1.6 billion, according to Forbes.
He bought the Manalapan estate for $25.5 million in 2011, records show. Built in 2007, the compound includes a guest house, two pools, a tennis court, a dock and 215 feet of beach frontage. The main house has nine bedrooms, 16 bathrooms, three half-bathrooms, a theater, spa facilities, a gym and a wine room, the listing shows.
Kirk listed the estate for $134 million in September. Margit Brandt with Premier Estate Properties has the listing.
The next most expensive home to find a buyer last week was the waterfront house at 1246 North Lake Way in Palm Beach, asking $34.9 million.
Records show the seller is Myron “Mosie” Miller and his wife, Michelle Miller, who bought the home for $21.6 million in 2023. That same year he sold an oceanfront mansion in Palm Beach for $68.1 million. Mosie Miller is a real estate investor and developer, and the son of marina mogul Robert Miller, who bought a Palm Beach home for $25 million last month.
The 4,700-square-foot North Lake Way home was built on 0.3 acres in 1966, records show. It includes five bedrooms, seven bathrooms, one half-bathroom, a pool and a dock. The Millers recently completed an extensive renovation of the house, the listing shows.
They listed it for $34.9 million in November, Zillow shows. Christian Angle with Christian Angle Real Estate has the listing.