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Real Estate

Stunning $173 million flip in Palm Beaches!!

Cashflow In Miami
June 30, 2022

2000 South Ocean Boulevard , Manalapan

Stunning $173 million flip in Palm Beaches!!

We wrote before about this grand $94 million sale last year! Now it resold for  $173 million !!

Larry Ellison, the billionaire co-founder of Oracle, paid $173 million for a Manalapan estate, setting a record for home sales in Florida! Billionaire Netscape co-founder Jim Clark sold the 16-acre compound. The sale of the former Ziff family estate already closed.

Sources confirmed that Ellison, the world’s 11th richest person, is the buyer of the property. Forbes pegs his net worth at $93.7 billion.
Ellison also paid $80 million for a North Palm Beach teardown last year. In addition, Ellison owns the majority of the Hawaiian island of Lanai. After buying 98 percent of the island in 2012, locals say that his control is pushing out longtime residents, according to a recent Bloomberg profile.

The Palm Beach sale blows past the current record for residential sales in Florida, which was set early last year when Tiger Global Management co-founder and partner Scott Shleifer acquired an oceanfront mansion at 535 North County Road in Palm Beach for $122.7 million. We had a blog about that sale, too.

Clark paid just $94 million for the Manalapan property in March 2021. The Ziff family had owned it for decades, and at one point listed it for $200 million.
The more than 30-bedroom compound, with 1,200 feet on the Atlantic Ocean and 1,300 feet along Lake Worth, connects via tunnels, including a furnished tunnel underneath South Ocean Boulevard that features a 15-foot-wide gallery. The property has a 12-bedroom main house, two four-bedroom beachside cottages, a seven-bedroom Mango House, a staff house and recreational amenities, including a swimming pool, golf area, tennis court and half-basketball court.


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