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eatherTech founder David MacNeil has made another significant purchase in Manalapan, buying an incomplete 1.6-acre oceanfront estate for $55.5 million. This acquisition brings his total spending in the area to $96 million.

    The property at 1140 South Ocean Boulevard was sold by developer Joe Farrell, who had planned a lavish development including a 19,000-square-foot main house and two pools. MacNeil bought the estate unfinished, with plans for it unclear.

    Manalapan is emerging as a hub for ultra-luxury real estate deals, attracting high-profile buyers due to its large ocean-to-Intracoastal properties. The area's proximity to President Donald Trump's Mar-a-Lago Club and limited availability of similar estates in Palm Beach are also drawing interest from big-name buyers.

    MacNeil's purchase follows his acquisition of an adjacent 2-acre estate for $38.5 million last year, which he demolished after buying it. He previously sold an oceanfront mansion in Fort Lauderdale for $40 million, the most expensive home ever sold in the city at the time.

    The Manalapan market is experiencing a post-pandemic boom, with billionaire Oracle co-founder Larry Ellison making record-breaking purchases in the area last year. Agents believe that Manalapan's large properties and proximity to Palm Beach make it an attractive destination for ultra-luxury buyers, driving prices upwards.