Billionaire optometrist and inventor Dr. Herbert Wertheim has purchased an oceanfront estate in Manalapan for $65 million, expanding his collection of luxury properties.
According to property records, the nearly 28,000-square-foot mansion at 1160 South Ocean Boulevard was sold by a land trust. The recorded deed lists the sale price as $61.8 million, with an additional $3 million spent on furniture and other credits, as confirmed by a spokesperson from Corcoran Group. Phil and Candace Friis of Corcoran represented the seller in the transaction.
The estate sits on two acres and features amenities such as two swimming pools, an air-conditioned garage with space for more than 13 cars, a cabana, gate house, and a dock equipped with boat lifts. Listing agents note that it is one of about 60 properties in Manalapan offering access to both the ocean and the Intracoastal Waterway via an underground tunnel. The home includes eight bedrooms, eight bathrooms, six half-bathrooms, and 160 feet of water frontage.
The trust had previously acquired the property for $28 million in 2021, indicating that its value has more than doubled over four years.
Dr. Wertheim also purchased a waterfront house at 305 Indian Road in Palm Beach last year for $38 million from developer Todd Glaser. He is the founder and leader of Brain Power, which is recognized as the largest producer of optical tints for eyeglasses. Forbes currently estimates his net worth at $3.9 billion.
Manalapan continues to attract high-profile buyers due to its larger property sizes compared to nearby Palm Beach while remaining close to notable locations such as President Donald Trump’s Mar-a-Lago Club. Oracle co-founder Larry Ellison previously set a record in Manalapan with his $173 million purchase in 2022 and later acquired Eau Palm Beach Resort & Spa for $277.4 million last year (https://therealdeal.com/miami/2023/05/19/larry-ellison-buys-eau-palm-beach-resort-spa-for-173m/). WeatherTech founder David MacNeil also recently bought additional oceanfront property in Manalapan for $55.5 million from developer Joe Farrell (https://therealdeal.com/miami/2024/02/20/weathertech-founder-david-macneil-buys-manalapan-spec-mansion-for-56m/).
Agents report that buyers are drawn to Manalapan because “the properties are larger than Palm Beach but still close to landmarks such as President Donald Trump’s Mar-a-Lago Club.”
Ellison remains active in Manalapan real estate investment: “Last year, he paid $277.4 million for the Eau Palm Beach Resort & Spa.” Earlier this year saw another significant transaction when “WeatherTech founder David MacNeil spent an additional $55.5 million on oceanfront property in Manalapan.”
