Manalapan: Tahitian-inspired house sells for $15.5 million

By Christine Davis

Acqua Liana, the Tahitian-Fijian inspired estate at 620 S. Ocean Blvd. in Manalapan,
has been sold for $15.5 million by real estate developer and president of Venture Concepts International Inc, Frank McKinney.

Unveiled early in 2009, the seven-bedroom estate was originally priced at $29 million,
and was most recently listed with Pascal Liguori of Premier Estate Properties for $22.9 million.

“The high-end real estate market is taking the lead in the real estate recovery,”
Pascal Ligouri said. “Acqua Liana is the latest of four oceanfront sales that I
have made over the last 10 months.”

The buyer was Bali 620 Realty Trust, which had Ronald Kochman listed as trustee, according to the warranty deed filed Sept. 13. On top of the $15.5 million, the buyer also purchased furniture, electronics and media equipment equal to 20 percent to 25
percent of the purchase price, McKinney said. “In this market, we are pleased
with the sale.”

Palm Beach broker Lawrence A. Moens, principal of Lawrence A. Moens Associates Inc.,
represented the buyer.

The green-certified, 15,000-square-foot Acqua Liana, or Water Flower, sits on 1.6
acres with 150 feet of ocean frontage as well as a dock on the Intracoastal Waterway.
It features solar panels, renewable wood, high-energy efficiency, and multiple water features inside and out, including swimmable water gardens, a 2,200-gallon fish tank, a glass floor over a lotus pond, spa with a fire pit and pool with windows.

“In the past, it took us about three months to sell a home. Pundits said to me,
‘Frank, your bubble is bursting,’” McKinney said. “This home did take longer,
but we got it done.”

McKinney plans to build another oceanfront home, a bit smaller than Acqua Liana, but in the same exotic design style. “What’s clear,” he said, “is supply and demand.
There are very few new oceanfront homes from Manalapan through Palm Beach built
in the last five years, and people want them.”

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