Today is the 4.04.2026, and the luxury real estate scene in Manalapan, Florida, continues to make waves. Recently, Frank and Dolores Mennella struck a deal for a stunning ocean-to-lake estate, purchasing the property for an impressive $51.7 million. Located at 1460 South Ocean Boulevard, this estate spans 1.5 acres and showcases the allure of Manalapan as a hotspot for high-end buyers.
The seller of this lavish estate was developer Vivian Dimond, who acquired it in 2024 after the previous owner, Nigerian oil magnate Onajite Okoloko, lost it in foreclosure. Dimond, leading the Miami-based real estate private equity firm Bayshore Grove Capital, had initially listed the mansion for $87.5 million before reducing the asking price three times, finally relisting it at $79 million.
Luxury Features Galore
This magnificent estate features a staggering 19,700 square feet of living space, complete with six bedrooms, eight bathrooms, and five half-bathrooms. It offers a plethora of amenities, including a salon, game room, wellness wing, indoor and outdoor pools, a tennis court, a 16-car garage, and a dock. With 172 feet of frontage on both the ocean and the Intracoastal Waterway, it’s easy to see why this property is so sought after.
The Mennellas are no strangers to the luxury real estate market, with their total expenditure on homes in Palm Beach County now reaching a staggering $99.7 million. In 2022, they made headlines by purchasing a mansion in Jupiter’s Bear’s Club community for a record $48 million. They also sold an oceanfront estate at 1940 South Ocean Boulevard for $68.3 million to WeatherTech founder David MacNeil, and another ocean-to-lake estate at 1400 South Ocean Boulevard for $48.4 million in 2023.
Manalapan’s Rising Appeal
With the recent high-profile purchases, Manalapan has solidified its status as a prime destination for luxury real estate. The demand for large estates with both ocean and Intracoastal access is on the rise, attracting a host of affluent buyers. For instance, in December, billionaire Dr. Herbert Wertheim purchased a nearly 28,000-square-foot mansion at 1160 South Ocean Boulevard for $62 million, further emphasizing the area’s appeal.
As the luxury real estate market in Manalapan continues to thrive, it’s clear that the combination of stunning properties and prime locations is drawing in buyers willing to invest significant sums. The recent transactions, such as the Mennella’s acquisition, only add to the allure of this exclusive locale.
For more information on the Mennella’s latest purchase and the luxury real estate market in Manalapan, check out The Real Deal.