Hedge funder sells oceanfront Manalapan estate for over $90M

Hedge funder sells oceanfront Manalapan estate for over $90M

Hedge fund manager Paul Saunders sold his oceanfront Manalapan mansion for more than $90 million.

Saunders, founder of James River Capital Corp., based in Manakin-Sabot, Virginia, and his wife, Victoria Saunders, sold the newly built estate at 1020 South Ocean Boulevard in Manalapan , according to the Wall Street Journal. The buyer is unknown and the deal has not yet been recorded.

The sale adds to a growing number of high-priced deals to close in Palm Beach and neighboring towns since the pandemic began early last year. In February, Tiger Global Management founder Scott Shleifer paid $122.7 million for an oceanfront mansion in Palm Beach, setting a record for residential sales in Florida and marking one of the most expensive home sales in the U.S.

The 16,077-square-foot, five bedroom Manalapan estate that just traded has seven bathrooms and two half-bathrooms. It was completed last year and features a golf simulator room and outdoor putting green, according to the Journal.

The Saunderses lived in the home, as they claimed homestead exemption on it, records show. The couple paid $14.5 million for the nearly 2.2-acre lot in 2018. It has more than 200 feet of ocean frontage and a sliver of land fronting the Intracoastal Waterway with a dock.

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