Home US A Florida mansion worth $285 million becomes one of America’s most expensive home listings… but there’s a big catch

A Florida mansion worth $285 million becomes one of America’s most expensive home listings… but there’s a big catch

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A developer in Manalapan, Florida's Palm Beach County, has listed a planned spec mansion for sale for a whopping $285 million

A remarkable new listing has hit the market in Florida, one of the most expensive in American history, but it has yet to be built.

A developer in Manalapan, Florida’s Palm Beach County, has listed a planned spec mansion for sale for a whopping $285 million.

That puts the property, which won’t begin construction until there is a buyer, among the most expensive ever put up for sale in the US.

A nine-acre property in Naples, Florida, broke records when it went on the market last February for $295 million, but it has yet to be sold.

A New York City apartment currently holds the record for the most expensive home sale in the US after it was purchased by billionaire hedge fund manager Ken Griffin in 2019 for $240 million.

Any potential buyer of the Manalapan home will have fellow billionaire Larry Ellison as a neighbor, as the land is next to the Oracle co-founder’s sprawling estate.

The property is also a few minutes’ drive from Donald Trump’s home at Mar-a-Lago.

The seller is Stewart Satter, a local developer who briefly served as mayor last year of the city, which is also home to Fox News star Sean Hannity.

A developer in Manalapan, Florida’s Palm Beach County, has listed a planned spec mansion for sale for a whopping $285 million

The house is being sold by Stewart Satter, a local developer who briefly served as mayor of Manalapan last year

The house is being sold by Stewart Satter, a local developer who briefly served as mayor of Manalapan last year

Stewart Satter purchased the land in March 2024 for $27.5 million and demolished an existing circa-1985 Mediterranean home on the property.

Stewart Satter purchased the land in March 2024 for $27.5 million and demolished an existing circa-1985 Mediterranean home on the property.

Satter resigned as mayor just a few months after new financial disclosure rules required him to disclose his income and assets, which he said he was uncomfortable with. The Wall Street Journal.

The four-acre property extends from the Intracoastal Waterway to the Atlantic Ocean.

There is also a private tunnel under South Ocean Boulevard, which runs through the center of the property.

The house will have amenities such as a gym, spa, wine cellar, padel room, cinema and bowling alley.

It will also have more unusual amenities, such as a golf simulation room, a shooting range and a “car museum” where the owner can display his prized vehicles.

The main house covers an impressive 50,390 square meters and offers eight bedrooms, nine bathrooms, seven powder rooms, two kitchens designed for both daily use and catering, two laundry rooms and dedicated staff quarters.

The plans also call for an extensive guesthouse and boathouse, plus landscaped grounds complete with a 3,700-square-foot infinity pool with waterfalls and lagoons.

The property will also come with a private dock and more than 700 feet of ocean frontage.

Any potential buyer of the Manalapan home will have fellow billionaire Larry Ellison as a neighbor, as the land is next to the Oracle co-founder's sprawling estate.

Fox News star Sean Hannity moved to Manalapan last year

Any potential buyer of the Manalapan home will have fellow billionaire Larry Ellison and Fox News star Sean Hannity as neighbors

The back of the mansion will overlook the water and have its own jetty

The back of the mansion will overlook the water and have its own jetty

The four-acre property extends from the Intracoastal Waterway to the Atlantic Ocean

The four-acre property extends from the Intracoastal Waterway to the Atlantic Ocean

“This estate is the culmination of vision, craftsmanship and location, combining unparalleled amenities with the tranquility of Manalapan's coastal lifestyle,” Satter said in a press release

“This estate is the culmination of vision, craftsmanship and location, combining unparalleled amenities with the tranquility of Manalapan’s coastal lifestyle,” Satter said in a press release

Renderings show that the house will also have unusual features such as a golf simulation room and a shooting range

Renderings show that the house will also have unusual features such as a golf simulation room and a shooting range

“This estate is the culmination of vision, craftsmanship and location, combining unparalleled amenities with the tranquility of Manalapan’s coastal lifestyle,” Satter said in a press release.

“Someone who spends $285 million expects everything. And they will get everything in that building,” he told the outlet.

The $285 million mansion is the latest in a series of high-profile residential developments from Satter.

In 2020, he sold a Manalapan estate he built for about $39 million to a couple who had sold their Palm Beach home to Sylvester Stallone, he noted.

Two years later, Campbell Soup heiress Mary Alice Dorrance Malone purchased a parcel of land he owned, along with commissioned plans, for $40 million.

When asked if the high price tag for his latest project was realistic, Satter described himself as “a pretty realistic person.”

He compared it to a recent $150 million listing on Palm Beach’s Billionaires’ Row, which included only about half the area of ​​his property.

The property is not yet under construction, because he expects that every buyer will want to adjust or adjust the plans.

The home will feature a “car museum” where the owner can display his prized vehicles

The home will feature a “car museum” where the owner can display his prized vehicles

The main residence will span an impressive 50,390 square feet and offer eight bedrooms, nine full bathrooms and seven powder rooms.

The main residence will span an impressive 50,390 square feet and offer eight bedrooms, nine full bathrooms and seven powder rooms.

A wine cellar is another of the features of the $285 million mansion

A wine cellar is another of the features of the $285 million mansion

Developers say the sun's rising and setting will be magical

Developers say the sun’s rising and setting will be magical

“This estate is unlike anything the market has ever seen,” said agent Nick Malinosky of The Exclusive Group at Douglas Elliman.

‘Its enormous scale, impeccable design and unparalleled amenities make it a true icon of luxury living.

“This is more than just a home – it’s a statement, a record-breaking achievement that will forever redefine the standard of ultra-luxury real estate.”

In recent years, Manalapan has seen a huge increase in home values, largely due to its proximity to Palm Beach, which is about 10 miles north.

The Covid pandemic has further accelerated this trend, attracting affluent buyers from Northeast to South Florida, according to Satter.

In 2022, Oracle co-founder Larry Ellison set a local record when he purchased a $173 million home in Manalapan.

He later acquired the city’s Eau Palm Beach Resort & Spa for about $277 million. More recently, in December, Sean Hannity purchased an estate there for $23.5 million.

The town’s appeal lies in its sprawling estates and relative seclusion, making it a quieter, more private alternative to Palm Beach, just 10 miles to the north.

With approximately 400 residents and its own dedicated police force, Manalapan offers exclusivity and privacy that wealthy buyers find irresistible.

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