The Orleans family sold their oceanfront mansion in Manalapan for $26.25 million in a deal advertised as a teardown and redevelopment opportunity.
The transaction took place in two deals, each by different groups of beneficiaries of Selma H. Orleans, who died in September 2021.
The Selma H. Orleans Trust for Patricia with Patricia Orleans Siegal and Clarisse Zalcman of Margate, New Jersey as trustees, sold a 55% interest in the home for $14.44 million. Then the Selma H. Orleans Trust, with Kenneth Schatz and Jeffrey P. Orleans in Conshohocken, Pennsylvania as trustees, sold a 45% interest in the home for $11.81 million. The 6,304-square-foot home at 1300 S. Ocean Blvd. was purchased by 1300 South Ocean LLC, managed by West Palm Beach attorney Maura Ziska on behalf of a client.
The Orleans family built the home on the 1.34-acre lot in 1983. It stretches from the Atlantic Ocean to the Intracoastal Waterway, but the bulk of the lot is on the ocean side of the street.
The home only occupies about one-third of the lot.
The listing by Christian Angle with Christian Angle Real Estate highlights the potential of building a “dream home” on the waterfront property, not the features of the existing home.
