Aviation executive Robert G. Fessler has sold his oceanfront estate in Manalapan, Palm Beach County, for $31.5 million. The sale of the property at 880 South Ocean Boulevard was handled by Antonio and Pascal Liguori of Premier Estate Properties, who represented both the seller and the buyer. The identity of the buyer has not been disclosed, and the transaction has not yet appeared in public records.
Fessler is known for his leadership roles in companies such as Magellan Aviation Group and Aeronautical Support International. He has also invested in other luxury residential properties within Palm Beach County. In 2017, he sold a newly built mansion in Palm Beach for $49 million.
Public records indicate that Robert and Daphne Fessler purchased the Manalapan estate for $5.3 million in 2000. The property was originally built in 1988 on a 1.6-acre lot and features a main house with four bedrooms and four bathrooms, as well as a two-bedroom guest house. Amenities include a theater, swimming pool, dock, and 150 feet of frontage on both the Atlantic Ocean and Intracoastal Waterway.
According to Antonio Liguori, Fessler renovated the home during the 2000s. Liguori did not comment on what the new owner plans to do with the property but noted that a neighboring estate sold as a teardown last year for $37 million.
The Manalapan property was first listed for sale at $45 million in 2024 before being reduced to $38.5 million earlier last year.
Liguori said demand remains strong in Manalapan’s luxury market, particularly among buyers seeking new construction homes or lots suitable for building custom residences. He stated: “They love the fact that there are other high caliber billionaires that live in the neighborhood.”
Recent transactions highlight ongoing interest from wealthy buyers in Manalapan. In 2022, billionaire Larry Ellison set a record by purchasing a 16-acre compound for $173 million; he later acquired Eau Palm Beach Resort & Spa for $277.4 million in 2024. Meanwhile, billionaire Randal Kirk recently found a buyer for his estate after lowering its asking price from $90 million.
