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luxurious waterfront estate in Manalapan, Florida, once owned by Billy Joel, is hitting the market for a staggering $84.88 million. The 23,000-square-foot residence was developed by Frank A. Mennella and his wife Dolores, who purchased the land from Joel in 2018 for $7.5 million.

    The estate boasts an impressive array of amenities, including five bedrooms, 13 bathrooms, multiple bars, a spa wing with massage and steam rooms, a bowling alley, a movie theater, and a 1,000-bottle wine cellar. A private tunnel under State Road A1A connects the main house to a beachfront cabana spanning roughly 1,200 square feet.

    The Mennellas built the home as an investment, flipping trophy properties in Manalapan with success. They sold a nearby estate last year for about $48 million and are now selling this property fully furnished, including much of its artwork. The listing joins a series of eye-popping asks in the area, following Larry Ellison's $173 million purchase and a $285 million spec home currently on the market.

    Manalapan has seen a surge in ultra-luxury demand since the pandemic, with property values more than doubling in some cases. The estate's dual-coastline setup, with frontage on both the Intracoastal Waterway and the Atlantic Ocean, is one of its most valuable traits. Listing agents Philip Lyle Smith and Carla Ferreira-Smith of Luxury Resort Portfolio are handling the sale.

    The Mennellas have a track record of flipping properties in Manalapan and plan to move every five years. They're already thinking about their next project as they sell this luxurious estate, which blurs the line between private residence and five-star resort.