A limited liability company just paid a recorded $18 million for an ocean-to-lake estate of about 2 acres in Manalapan, the wealthy town south of Palm Beach.
On the seller’s side was former investment banker Robert Steinberg, who owned the estate in his name, according to the deed recorded Thursday. Steinberg was joined in the sale by his wife, Suzanne, the document shows.
The Steinbergs bought the estate for a recorded $8.975 million in 2009 and had the house homesteaded as their primary home in the latest tax rolls.
The buying entity is managed by West Palm Beach real estate attorney Maura Ziska, state business records show. She declined to comment, and no other information about the buyer was immediately available in public records.
With a six-bedroom Mediterranean house built in 1990, the estate looks out to 150 feet of frontage on the Intracoastal Waterway. The coastal road separates the main property from its sizable beach parcel, which faces 150 feet of oceanfront and has a cabana.
The buildings have a total of 20,106 square of living space, inside and out, property records show. The residence, with 11,953 square feet of air-conditioned space, features multiple terraces and a lakeside swimming pool, according to the sales listing. There’s also a dock.
The estate lies about six-tenths of a mile north of the Boynton Beach Inlet.
Agent Shelly Newman of William Raveis South Florida acted on behalf of the Steinbergs in the sale. She listed the estate at $19.5 million in May, the multiple listing service shows. Newman declined to discuss the transaction.
Newman “did an absolutely marvelous job” representing the property, said Robert Steinberg, who declined further comment.
Broker Lawrence Moens of Lawrence A. Moens Associates represented the buyer’s side of the deal. He couldn’t be reached for comment.
The 1800 block of South Ocean Boulevard has been seen its share of real estate activity. In May, Newman handled both sides of the sale of an ocean-to-lake estate at 1800 S. Ocean Blvd. And her listing for another estate in the same block, at 1880 S. Ocean Blvd., is under contract, priced at $22.95 million, the MLS shows.
This is a developing story. Check back for updates.
Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email email@example.com, call (561) 820-3831 or tweet @PBDN_Hofheinz. Help support our journalism. Subscribe today.
This article originally appeared on Palm Beach Daily News: Ocean-to-lake estate fetches $18M south of Palm Beach in Manalapan