Newly Built $95 Million Manalapan Mansion Is Bought at Major Discount by Neighbor Who Plans To Raze Entire Home

A newly constructed $95 million mansion in the ultraexclusive Florida community of Manalapan has been purchased by one of its next-door neighbors—who now plans to raze the home in order to expand his own enormous estate.

The luxurious dwelling, which is still in the process of being built, was originally listed in August 2024 and is now pending offer. The Palm Beach Daily News identified the buyer as WeatherTech founder and CEO David F. MacNeil, who currently lives in the home that is located directly north of the sizable abode.

It seems MacNeil was able to use his proximity to snag quite the impressive discount on the purchase—with reports suggesting that he has agreed to pay $55.5 million, almost half the listing price.

However, MacNeil has no plans to actually reside in the modern megamansion, according to its seller and creator, Joe Farrell, who revealed to the Daily News that the buyer plans to demolish the dwelling and add the land on which it sits to his existing estate.

It remains unclear just how much profit Farrell will make in the deal. Records show that he bought the original property for $32.5 million in 2024—and he has since made a hefty investment into developing the home that now sits on it.

Farrell conceded that he could have likely made “a lot more” had he finished the property—but the offer for the unfinished home seemed like a more reliable opportunity to make a return on his investment.

“I could have finished it in 14 months and sold it for a lot more,” Farrell told the Wall Street Journal. “But you have market risk and all that additional capital layout. I saw an opportunity and left the casino early. I said, ‘Come on, get your coat. We’re outta here.'”

When it was first listed, the property was billed as “the epitome of luxury living” courtesy of its “unparalleled modern design and contemporary sophistication.” The description noted that it offered 150 feet of ocean frontage, as well as two pools, a pickleball court, and a newly installed dock.

The estate was due to include a 19,000-square-foot, nine-bedroom main residence, as well as a 4,000-square-foot guesthouse with four bedrooms.

“This masterfully configured residence has the most stunning ocean and Intracoastal views at the highest elevation in Manalapan,” the listing continued. “This home will also feature amenities including two pools with spas, a new pickleball court, an eight-car garage, and a new dock for a boat, with direct ocean access only a mile away.”

It is unclear how much of the home had been completed when MacNeil agreed to buy it. The Daily News reports that the deal is meant to close on May 11.

According to property records viewed by Realtor.com®, MacNeil purchased his original Manalapan residence for $38.5 million through an LLC in April 2024.

That home boasts more than 10,300 square feet of living space, including six bedrooms and six bathrooms. The lot size spanned more than 2 acres.

With his latest property purchase, MacNeil will add 1.6 acres to his already sizable estate—which brings the total value of his Manalapan holdings to $94 million.

The entrepreneur’s expanded estate is located on one of the most sought-after areas in Florida, which is occupied largely by ocean-to-lake estates that span the stretch that is bordered by two bodies of water.

Manalapan is home to a number of high-profile residents, including Fox News host Sean Hannity, who purchased a $23.5 million estate in the neighborhood in late 2024, almost a year after announcing his plans to quit New York for good.

Chris Rokos, a British billionaire who made his fortune in hedge fund management, also owns an enormous property in the area, which he put on the market in February for the staggering price of $150 million.

That same month, a newly built wellness retreat on the same stretch as the aforementioned homes was also put on the market, this time with a price of $87 million.

The estate, which spans almost 30,000 square feet, includes a 13-car, temperature-controlled garage; a guesthouse; and a private dock.

Motivational speaker Tony Robbins and tech billionaire Larry Ellison have also been residents of Manalapan.