A mystery buyer has purchased a second oceanfront estate in Manalapan for $35.1 million, bringing their total investment to $62.6 million for two adjacent properties, according to records dated April 13.
The transaction highlights ongoing demand for luxury waterfront real estate in South Florida during the winter and spring seasons, when agents say interest is especially strong among buyers seeking large properties with ocean access.
Rebecca and Tonio Arcaini sold their mansion at 1280 South Ocean Boulevard to Pitchoune Life, a Delaware entity that also acquired the neighboring lot for $27.5 million earlier this year. The combined parcels span 2.6 acres along the coastline. Gary Pohrer handled both listings while Marine Rollins of Miami Global Realty represented the buyer in each deal.
The Arcainis originally bought their 1.3-acre property in 2003 for $5.9 million before constructing a nearly 16,000-square-foot home featuring eight bedrooms, thirteen bathrooms, several half-bathrooms, and a guest house with two bedrooms. Amenities include a theater, wine cellar, pub, gym, sauna and massage room.
Records indicate that after listing the property last May at $56 million and reducing the price three times over subsequent months as shown by Zillow data, the couple finalized its sale this month while listing their mailing address as another local spec mansion currently pending sale.
Manalapan’s luxury market has seen several major transactions recently: Frank and Dolores Mennella bought an estate for $51.7 million after previously spending a record sum on another area home; billionaire Dr. Herbert Wertheim purchased an oceanfront mansion for $65 million late last year.
