Manalapan is a small town in South Florida with just over 400 year-round residents, about 70 lots and not much else. Most people, even those who live near Miami, have never heard of it.
But among those in the know, including Billy Joel and Tony Robbins, interest in moving to Manalapan has skyrocketed since the COVID-19 pandemic, real estate agents and local residents say. Unlike those moving to other parts of Florida, new residents of Manalapan are much more likely to be billionaires, thanks to the city’s sprawling beachfront properties, relative privacy and listing prices disproportionate.
Estates are currently listed for up to $80 million with a median price of $16.8 million, but the typical home value was around $4.3 million in April, according to Zillowmaking Manalapan one of the most expensive places in the country to live.
“This is largely due to the migration of people moving to Florida for tax reasons“Many have brought their businesses here,” says Nick Malinosky, a real estate agent with Exclusive Group at Douglas Elliman.
For the price, buyers get what Manalapan resident and former mayor Stewart Satter calls “a magical little oasis.” The estates are located between the Atlantic Ocean and the Intracoastal Waterway, with generous lots and a quietness that draws residents away from nearby Palm Beach. The city, Malinosky notes, is “in the middle of a ton of action” — close not only to Palm Beach but also Delray and Boca Raton. And it has its own police and fire departments.
“The police department knows every resident,” says Robert Burrage, a local builder who has worked in the area for 17 years. “If your gate is left open after dark, the police will call to make sure everything is okay. It is a very rich but picturesque place.
Daniel Petroni Courtesy of The Exclusive Group
While it’s easy to travel to nearby towns to enjoy restaurants, shopping, and nightlife, Manalapan itself is tucked away from the hustle and bustle of the Miami area. And that privacy has made it attractive to residents looking for a slower pace and less traffic, including the billionaire. Oracle co-founder Larry Ellison, who recently spent a whopping $173 million to purchase an estate in Manalapan – the largest residential sale in state history. The property includes 33 bedrooms, 34 bathrooms, a guest house, two chalets, a bird sanctuary, tennis courts, a PGA standard golf course and several tunnels under the road to connect the two parts of the property .
Tunnels are an important part of life in Manalapan: many residents built them under the A1A state highway, which runs through much of the city. The tunnels, painted with murals or in some cases serving as art galleries, connect the houses to the ocean, making it easier to travel from one part of the estate to another. (They are not without controversy, as their construction requires close the public road for several days.) “People flip out when you say you have a tunnel,” Satter says.
Another attraction of Manalapan is, of course, its natural beauty. Many properties have private docks for launching boats, and residents enjoy secluded beaches where sea turtles nest and manatees swim. Homes are either located oceanfront, with access to the Intracoastal Waterway, or vice versa. Those who don’t have homes directly on the ocean are allowed to build 1,500-square-foot beach homes to compensate.
“You get the best of both worlds: it’s truly unique,” Malinosky adds.
Daniel Petroni Courtesy of The Exclusive Group
Satter’s experience in the region illustrates how much the region has changed in recent years. In 2004, the investor purchased four properties in Manalapan for a total of approximately $20 million. He sold a single lot for 40 million dollars in early 2022. Earlier this year, he purchased a 1989 mansion for $28 million, which he plans to demolish and rebuild into something more modern (maybe with a pickleball court).
Rebuilding is common in Manalapan and is another draw for wealthy residents who don’t like to hear the word “no.” Burrage says the city is much more open to different architectural styles than other neighboring enclaves of the ultra-wealthy.
“Manalapan is open to homes that people want to create,” Burrage says. “I noticed very little reluctance.”
And of course, Florida’s no income tax is icing on the cake, says Satter, who resigned as mayor after the new financial disclosure law adopted in the state.
“People say, I’m tired of the climate, the high taxes, my kids are grown up,” he says of his decision to move south. “It’s an absolutely beautiful little community. It is special.
