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illionaire David MacNeil and his wife Melissa have closed on a 340-foot oceanfront lot in Manalapan, Florida for $55.5 million in cash, bringing their total spending to $94 million before construction begins on their dream home.

    "I think I got a bargain," MacNeil, founder and CEO of WeatherTech, said in an interview with Gimme Shelter. The couple's new property is adjacent to another lot they purchased last year for $38.5 million and will be combined to create a 3.6-acre compound with ocean and Intracoastal frontage.

    The seller, celebrity developer Joe Farrell, marketed the lot for $95 million, which included a not-yet-built spec house. MacNeil plans to build a residence and guest house on the site, with work already underway on a sea wall. He's working with architect Holdren + Lietzke and builder RWB Construction Management.

    "We're designing an amazingly functional and aesthetically pleasing home that's classy, not ostentatious," MacNeil said. The home will feature a large garage for his extensive car collection, which spans from the 1920s to the present day.

    Having a property on both the Atlantic and Intracoastal was "extremely important" to MacNeil, who estimates it will take two and a half years to construct. Manalapan is becoming a go-to destination for billionaires, with Larry Ellison's $173 million private residence being the largest in the area.

    MacNeil joins other notable residents like Billy Joel, Tony Robbins, and Farrell himself, who has owned a home in Manalapan for two decades. Listing broker Margit Brandt described the area as "underrated," offering massive oceanfront properties with direct access to the sand and proximity to Palm Beach's action.