The property has 200 feet of waterfront on the ocean and the Intracoastal Waterway at 1040 S. Ocean Blvd. in Manalapan. Agent Margit Brandt of Premier Estate Properties now holds the listing.
As South Florida’s high season gets underway, real estate investor and industrialist Jim Randall and his wife, Eleanor, have chosen a new listing agent for their ocean-to-lake estate in Manalapan — but the price remains unchanged at $79 million.
An ownership company linked to the Randalls bought the Mediterranean-style estate at 1040 S. Ocean Blvd. for a recorded $25.75 million in early 2021 in the wealthy town south of Palm Beach.
The estate measures 2.14 acres with about 200 feet of direct beachfront. The property has the same amount of frontage on a parcel facing the Intracoastal Waterway and separated from the bulk of the estate by South Ocean Boulevard.
The mansion and guesthouse have a combined total of eight bedrooms and 25,399 square feet of living space, inside and out, the listing says.
Agent Margit Brandt of Premier Estate Properties holds the latest listing, which entered the multiple listing service Oct. 11. The property had been on and off the market since December.
The Randalls, who have deep ties to the Bel Aire area of Los Angeles, own the Manalapan estate through a Delaware-registered limited liability company named 1040 Ocean LLC.
The estate was designed by YRA Design. A winding drive leads to the front motor court, bordered by the L-shaped layout of the house and guesthouse.
The mansion features a two-story foyer with a curved staircase and a double-height great room with a fireplace and floor-to-ceiling windows facing the ocean. The room is overlooked by a second-floor gallery.
There also are several wet bars, a private primary-bedroom wing and a five-car garage, according to the sales listing. Oceanfront loggias overlook the new pool with a European overflow system.
A new dock and private boat slip in the Intracoastal Waterway offer “parking and seating” for the captain and guests, the listing says.
A recent landscape renovation by Lang Design Group Landscape Architect “included a $250,000 landscape lighting enhancement” project, the listing says.
The Randalls’ property lies about 2 miles south of Eau Palm Beach Resort & Spa, which made news of its own in August when Manalapan resident and Oracle software billionaire Larry Ellison purchased it for a recorded $277.4 million.
Brandt’s listing was first reported by the New York Post.
The previous listing was held by broker Maura Christu of Island Realty PB, who initially listed the estate at $89 million in December, then dropped the price to $79 million in February. As a real estate lawyer, she goes professionally by the name Maura Ziska at her West Palm Beach legal practice. Her listing for the Manalapan estate dropped out of the MLS over the summer.
Premier Estate Properties handled both sides of the sale when the Randalls bought the estate. In that deal, the listing agent was agent was Pascal Liguori, who represented seller Beth J. Kloiber. She sold it through a Kentucky-registered limited liability company she managed named Whimsical Florida, courthouse records show.
Although residential sales in Manalapan have slowed over the past 18 months, asking prices for premium properties remain far higher than before the coronavirus pandemic-sparked the real estate boom that arrived in the town in early 2021, real estate observers say.
The boom came, in part, because some homebuyers bought in Manalapan after they couldn’t find waterfront estates in Palm Beach, where housing inventory shrank dramatically during the first years of the pandemic. The housing boom also was fueled by the work-at-home trend and Florida’s favorable tax climate.
A company controlled by Jim Randall owns an office building in Palm Beach at 2875 S. Ocean Blvd. The building’s ownership entity is linked in property records to Randall Realty Group.
Jim Randall previously owned Allfast Fastening Systems in California.
Portions of this story appeared previously in the Palm Beach Daily News.
dhofheinz@pbdailynews.com