A Manalapan home sold for $173M in June – possibly the largest deal ever closed in Fla. – and a Coconut Grove sale brought in over $106M.
NEW YORK – According to real estate appraisal firm Miller Samuel and The Wall Street Journal, at least seven deals closed for $100 million or more in 2022. Of these deals, four closed in Florida, including the $173 million Gemini estate in Manalapan purchased by Oracle’s Larry Ellison.
The off-market deal comprised a record-setting purchase in June of an oceanfront estate near Palm Beach, and marked the largest deal ever closed in Florida. The roughly 16-acre property was long owned by the Ziff publishing family and is on a barrier island in Manalapan, comprising roughly 1,200 feet of ocean frontage and 1,300 feet on the Intracoastal Waterway. The property’s structures include a 62,200-square-foot main residence and a seven-bedroom guesthouse.
In September, hedge-fund billionaire and Citadel founder Ken Griffin purchased a $107 million estate in Miami’s Coconut Grove area, a Miami-area record. The seller was businesswoman and philanthropist Adrienne Arsht, who put the property on the market for $150 million in January. The waterfront estate includes two separate homes comprising 12 bedrooms and about 25,000 square feet. The main residence was built around 2000 by Arsht, while the second property dates to 1913, when it was constructed for former U.S. Secretary of State William Jennings Bryan.
Finally, InterSystems’ Phillip Ragon purchased a trio of homes on Golden Beach for $93 million in June with plans to tear them down. Ragon intends to construct a new residence, say people familiar with the situation. The three properties collectively include about 1.7 acres with about 275 feet of ocean frontage.
Source: Wall Street Journal (01/04/23) Clark, Katherine
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