Billionaire optometrist and inventor Dr. Herbert Wertheim has purchased a waterfront estate in Manalapan for $65 million, according to property records. The nearly 28,000-square-foot mansion at 1160 South Ocean Boulevard was sold by a land trust. This transaction marks the first time since Oracle co-founder Larry Ellison’s $173 million acquisition in 2022 that a home sale in Manalapan has exceeded $60 million.
The recorded deed lists the sale price as $61.8 million, with an additional $3 million covering furniture and other credits, according to a spokesperson from Corcoran Group. Phil and Candace Friis of Corcoran represented the seller.
The two-acre estate features amenities such as two swimming pools, an air-conditioned garage accommodating more than 13 cars, a cabana, gate house, and a dock with boat lifts. It is among approximately 60 properties in Manalapan that provide access to both the ocean and the Intracoastal Waterway via an underground tunnel. The house contains eight bedrooms, eight bathrooms, six half-bathrooms, and offers 160 feet of water frontage.
The land trust had acquired the property for $28 million in 2021; its value has more than doubled over four years.
Last year, Wertheim also bought a waterfront home at 305 Indian Road in Palm Beach for $38 million from developer Todd Glaser. Wertheim is the founder and leader of Brain Power, which is described as the largest producer of optical tints for eyeglasses. Forbes estimates his net worth at $3.9 billion, which represents a decrease of about $2 billion from last year.
Agents report that buyers are drawn to Manalapan because its properties tend to be larger than those found in Palm Beach while remaining close to notable locations like President Donald Trump’s Mar-a-Lago Club. Larry Ellison has increased his investments in Manalapan; last year he paid $277.4 million for Eau Palm Beach Resort & Spa. Earlier this year, WeatherTech founder David MacNeil purchased additional oceanfront property in Manalapan for $55.5 million from developer Joe Farrell.
