Developer Stewart Satter, a former Manalapan mayor, plans to build a mansion on an ocean-to-lake property at 1960 S. Ocean Blvd. Features could include a bowling alley, movie theater and gym-and-spa facility, but with a $285 million price tag, the buyer would be able to make changes. Rendering provided
By Christine Davis
A mansion on an ocean-to-lake property at 1960 S. Ocean Blvd., Manalapan, to be built on speculation by developer and former Mayor Stewart Satter, is being offered for sale for $285 million. The property is listed by Douglas Elliman real estate agent Nick Malinosky.
“It’s an extraordinary house and a bigger (sales) number,” Satter said. Developing properties “is a passionate hobby of mine, and this estate is in keeping with what I’ve done and what I enjoy doing.
“Twenty years ago, I bought four lots in Manalapan, and people thought it was crazy, but I’ve continued to buy land and build extraordinary houses. I’ve done it successfully.”
This estate, on 4 acres with 350 feet both on the ocean and Intracoastal Waterway, is next to Larry Ellison’s home at 2000 S. Ocean Blvd.
In 2022, Ellison, co-founder of Oracle, paid $173 million for his residence, the former Ziff estate, which currently holds the record for the top sales price in Manalapan.
Satter plans to build a 54,570-total-square-foot estate at 1960 S. Ocean, working with architect Choeff Levy Fischman and contractor Robert W. Burrage of RWB Construction Management, with interiors by Marc-Michaels Interior Design.
The plans include an eight-bedroom main house and guest house on the lakeside parcel, with a beach house on the ocean side. A tunnel under State Road A1A will connect the two parcels.
Planned features include a bowling alley, a movie theater, a gym-and-spa facility and a game room, a golf-simulation room, a shooting range, a padel court and a car museum. Outdoor amenities will include a 3,700-square-foot infinity-edge pool, waterfalls, lagoons and a private dock. The land has already been cleared.
“Given the scale of the property, we wanted to build an extraordinary house because we had the land to do that, and given the number, someone who buys it will want everything, and we are happy to provide it,” Satter said. “Maybe they won’t want a bowling alley, maybe something else.”
Malinosky outlined a possible scenario a buyer might take. “The design was to provide to a buyer not only a spectacular piece of property from the ocean to the lake, but to allow the new owner to make changes to the current plans, and also to streamline the building process ASAP.”
A buyer “could probably finalize the plans within four months, the building process taking two to two-and-a-half years,” he said. “We are providing a turnkey experience (as) the builder and the team have done this many times before and are familiar with the process.”
Added Burrage: “Specifically working with Choeff Levy Fischman Architecture + Design with what is drawn, we don’t see any problem getting what we have developed through
Manalapan’s architectural review and permitting process.”
Satter, who serves as chairman of the Architectural Commission, said he would recuse himself when the board reviews the plans.
“There’s quite a bit of interest in it,” Satter said. “We want people to have the opportunity to customize it. We will assess the demand over the next couple of months and then decide what to do.
“It’s a one-of-a-kind property, one-of-a-kind house and one-of-a-kind town.”
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Two recent high-end sales took place in Royal Palm Yacht & Country Club in Boca Raton. The five-bedroom, 7,508-square-foot residence at 336 E. Coconut Palm Road sold for $10 million on Jan. 9.
The sellers were Rhoda Cobb and Walter Smith Jr. Cobb bought the property in 2001 for $4.575 million. The buyer was Scott R. Dingle as trustee for the 336 E Coconut Palm Road Land Trust. The buyers and sellers were represented by David W. Roberts with Royal Palm Properties.
The five-bedroom, 7,112-square-foot residence at 2249 W. Maya Palm Drive sold for $10.15 million, recorded on Jan. 7.
The sellers were Un Young Chong and Tae Weon Seo, who bought the property in August 2021 for $7.25 million. The new owners are Richard Tarrant and Tracy Appleton.
The buyer and seller were represented by Marcy F. Javor, an agent with Signature One Luxury Estates.
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As The Coastal Star reported in its November issue, Macy’s has sold its 224,396-square-foot department store at the Boynton Beach Mall to the mall’s owner, Boynton Beach Mall LLC, which is part of the Washington Prime Group, for $15 million.
At that time, Macy’s was to remain open at least through 2025. But that date has been pushed up. Clearance sales at the store are underway, and, according to a salesperson at the Boynton Beach Macy’s store, it will close March 23.
A Macy’s Inc. January press release confirmed that it will close 66 stores, also noting the Boynton Beach closure, as part of a strategy announced a year ago that aims for sustainable, profitable sales growth.
“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy’s stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service,” said Tony Spring, chairman and chief executive officer of Macy’s Inc. This breaks down to closing 150 underproductive stores over a three-year period, while investing in 350 “go-forward” stores through 2026.
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The Research Park at Florida Atlantic University is celebrating 40 years of driving innovation and entrepreneurship, with the intent to continue to support South Florida’s economic growth.
Companies it supported include Mod Med, The Silverlogic and ShipMonk, all of which were featured on the “2024 Inc. 5000” list of the fastest-growing companies in the nation.
Also, Flospine and Aventusoft, both graduates of the Research Park’s Global Ventures program, have recently expanded into the park.
MPLT Healthcare is a large tenant of the park, which also supports Instrumentum, Thema Brain Health and HelixVM. Twenty technology-focused ventures based at the park are joined by 28 Global Ventures enterprises.
Kicking off the 40-year celebration, the research park revealed its anniversary logo and hosted its inaugural Economic Outlook Conference in January, which brought together business leaders and industry experts to explore economic trends shaping 2025.
The park will host its 40th Anniversary Awards ceremony on May 15 to celebrate three innovative leaders and one outstanding organization that have helped the South Florida community.
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During October, November and part of December 2024, members of the Rotary Club of Delray Beach delivered 1,500 free dictionaries to third-graders in Delray Beach and Boynton Beach.
“For over 30 years our club has raised the money, bought the dictionaries and distributed them to third-graders and their teachers,” said the club’s acting president, Tom Coyne.
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At the Boynton Beach Online Chamber of Commerce’s first anniversary celebration, current members and newcomers came together to connect. Guests included members of the community and Boynton Beach City Manager Daniel Dugger.
Its mission is to drive business and promote Boynton Beach as a downtown destination, said the chamber’s founder, Rick Maharajh, chairman and CEO of RM Logitech.
“To stimulate economic development and work with our city to promote, educate and engage our businesses and residents, we will connect our business network to the Boynton Beach community,” he said.
For more information, visit bbocflorida.com.
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The nonprofit Schoolhouse Children’s Museum’s board of directors promoted Miriam Naranjo from assistant director to executive director.
As assistant director, Naranjo oversaw daily operations, managed development initiatives and ensured the smooth functioning of the Boynton Beach museum’s team. Naranjo takes over from Suzanne Ross, the executive director for the past 11 years.
Ross created an endowment with the Palm Health Foundation to secure the museum’s future and she started the Museum Family Fun Day. During her tenure, the museum strengthened its educational programs and rebuilt relationships within the community.
In her new role as senior adviser, Ross will provide continuity and support during this leadership transition. She will oversee the completion of ongoing initiatives, serve as a resource, and act as an ambassador. She plans to retire in April.
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The Delray Beach Housing Authority reappointed Ivan Gomez as board chairman and appointed Robert Cantwell as vice chairman. The authority is governed by seven commissioners, each appointed by the City Commission for a term of four years. This organization aims to improve the quality of life for low- and moderate-income families, by providing opportunities for self-sufficiency and offering safe, quality housing.
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The League of Women Voters of Palm Beach County hosts two events in February.
From 10 a.m. to noon on Feb. 8, a Connect & Reboot session will feature guest speaker Dave Aronberg, former Palm Beach County state attorney.
Attendees will hear about the league’s efforts in areas that include voter services, gun safety, national popular vote, voting rights, health care and more. The event will be held at the South County Civic Center, 16700 Jog Road, Delray Beach. Registration is required online at LWVPBC.org or call/text 561-276-4898.
From 11 a.m. to 1 p.m. Feb. 26, I Stand with the League Luncheon & Awards, the league’s annual event and fundraiser, will feature speakers Katie Phang and Robert Watson.
Phang hosts a weekly show on MSNBC and is a legal contributor to NBC News and MSNBC. Watson is a historian, author, media commentator and Lynn University professor.
The event will include a three-course lunch, presentation of the league’s Mavericks & Heroes Award, and a silent auction. The event will be held at the Marriott West Palm Beach, 1001 Okeechobee Blvd. Tickets cost $150 and can be purchased at LWVPBC.org.
Send business news to Christine Davis at cdavis9797@gmail.com.
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