Billionaire’s $134 Million Manalapan Estate Finds a Buyer—Days After Price Was Cut by $45 Million

A staggering trophy estate in the tony Florida enclave of Manalapan has secured a buyer, days after its asking price was slashed from the sky-high sum of $134 million down to $90 million.

The property, which is reportedly owned by pharmaceuticals and biotech billionaire Randal J. Kirk, first hit the market in September 2025 for the extraordinary sum, only for that listing to be removed in early December.

It then returned to the market in the first weeks of January with the reduced asking price, only to come under offer within a matter of days.

Kirk, who is the chairman of venture capital and private equity firm Third Security, LLC, and has a net worth of $1.6 billion, according to Forbes, is understood to have purchased the palatial ocean-to-lake estate in 2011, when it was sold for $25.5 million.

Even with the reduction in price, the property was still the second-most expensive home to be put on the market in the past week, according to Realtor.com® data.

The property is located on an exclusive stretch that is home to just a handful of mansions boasting private frontage on both the Atlantic Ocean and the Intercoastal Waterway, an area that has lured a number of very high-profile homebuyers in recent years, from Fox News host Sean Hannity to Oracle billionaire Larry Ellison.

In total, the estate, which features a main residence, a guesthouse, and a dedicated security house, boasts close to 28,000 square feet of living space, as well as two swimming pools, a tennis court, and a six-car garage.

"Unrivaled in scale, beauty, and prestige, this ocean-to-lake Mediterranean marvel is a one-of-one triumph of architectural elegance in the heart of Manalapan," the listing states. "This is not merely a home, it's a legacy, trophy residence destined to host and entertain the world's most discerning buyers."

Kirk's dwelling sits on a plum parcel of more than 2 acres, with the primary residence offering multiple balconies that feature sweeping views of the meticulously-landscaped gardens and the water.

"With nine lavish bedrooms and 16 impeccably appointed bathrooms, every inch of this property has been curated for refined living on a world-class scale," the listing, which is held by Margit Brandt, of Premier Estate Properties, notes.

"Two sparkling pools, a resurfaced tennis court, and a six-car garage complement the home's sweeping amenities, while the overall ambiance channels the timeless romance and regal sophistication of the most storied European villas.

"This is not merely a home, it's a legacy, trophy residence destined to host and entertain the world's most discerning buyers."

Should the offer match even Kirk's reduced asking price, he stands to make quite the return on his investment, which last traded hands for less than a third of what it is currently listed for.

The property's soaring price is the latest sign of Manalapan's increasing allure for the country's wealthiest and most privileged homebuyers, who have previously been described as a "who's-who of billionaire clients."

There are fewer than 60 homes in the community that offer the advantage of having private water frontage on both sides, further fueling the demand that has sent prices in the neighborhood soaring.

Just last month, Fox News star Hannity listed his Manalapan property for almost double the price he paid for it just one year prior—putting the dwelling on the market for $44.9 million, just over 12 months after he bought it for $23.5 million.

As of October 2025, the median list price in Manalapan was $18.4 million, while in nearby Palm Beach, FL—another haven for the 1%—it sat at just under $3 million.

"The people who buy in Manalapan can buy anywhere in the world," local agent Nick Malinosky, of The Exclusive Group at Douglas Elliman, told Realtor.com in April. "These are the who's-who of billionaire clients. It's not like Manalapan was their second choice."

But it's not just the properties that draw in the rich and privileged to Manalapan.

The community also boasts one very key feature that is often top of mind for those in the lucky position to be seeking homes with an eight- or nine-figure price tag: absolute privacy.

Unlike Palm Beach, which has a population of around 9,000 residents, Manalapan is home to just over 400 people, all of whom enjoy unparalleled privacy and security courtesy of the gated community's private police force.

There is only one way in or out of Manalapan by land—although the majority of homes boast private docks, many of which are capable of housing enormous yachts—and license plate readers have been installed to monitor everyone who enters the gated community.

Homes—and even parcels of land—regularly hit the market in the area for upward of $40 million, with Realtor.com records showing that there are currently 12 properties listed for that amount or more.

"Manalapan has consistently seen record-breaking sales, with estate properties often surpassing those in Palm Beach on a per-square-foot basis," local agent Antonio Liguori, of Premier Estate Properties, said in April.

"You are very elevated here, on a very high unique ridge. You walk in the front door of these houses, and it looks like you’re on a cruise ship."