Billionaire optometrist and inventor Dr. Herbert Wertheim has purchased an oceanfront estate in Manalapan for $65 million, expanding his collection of luxury properties.
According to property records, the nearly 28,000-square-foot mansion at 1160 South Ocean Boulevard was sold by a land trust. The sale marks the first home transaction in Manalapan above $60 million since Oracle co-founder Larry Ellison acquired a property there for $173 million in 2022.
The deed recorded a price of $61.8 million, with an additional $3 million spent on furniture and other credits, as stated by a Corcoran Group spokesperson. Phil and Candace Friis from Corcoran represented the seller in this transaction.
The estate spans two acres and features two swimming pools, an air-conditioned garage accommodating more than 13 cars, a cabana, gate house, and a dock with boat lifts. The listing agents note that it is one of approximately 60 properties in Manalapan with access to both the ocean and the Intracoastal Waterway via an underground tunnel. The residence contains eight bedrooms, eight bathrooms, six half-bathrooms, and offers 160 feet of water frontage.
The land trust had previously bought the property for $28 million in 2021; its value has more than doubled over four years.
In 2024, Wertheim also purchased another 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, recognized as the largest producer of optical tints for eyeglasses. Forbes estimates his net worth at $3.9 billion—a decrease of about $2 billion from last year.
Agents report that buyers are drawn to Manalapan because its properties are larger than those found in Palm Beach but remain close to landmarks like President Donald Trump’s Mar-a-Lago Club. Larry Ellison continues to invest heavily in Manalapan; last year he paid $277.4 million for Eau Palm Beach Resort & Spa (https://therealdeal.com/miami/2023/05/17/larry-ellison-pays-record-173m-for-manapalan-mansion-plans-demolition/) . Earlier this year, WeatherTech founder David MacNeil acquired additional oceanfront property there for $55.5 million from developer Joe Farrell—specifically purchasing an incomplete spec estate at 1140 South Ocean Boulevard on a 1.6-acre lot (https://therealdeal.com/miami/2024/02/23/weathertech-ceo-david-macneil-buys-oceanfront-manapalan-home-for-55m/) .
