Aviation executive Robert G. Fessler has sold his oceanfront estate in Manalapan, Palm Beach County for $31.5 million, according to listing agents Antonio and Pascal Liguori of Premier Estate Properties. The Liguoris also represented the buyer but did not disclose their identity, and the transaction has not yet appeared in public records.
Fessler is known for his leadership roles in aftermarket aircraft products companies such as Magellan Aviation Group and Aeronautical Support International. He has previously invested in luxury residential properties in the area, including selling a spec mansion in Palm Beach for $49 million in 2017.
Property records indicate that Robert and Daphne Fessler purchased the Manalapan property at 880 South Ocean Boulevard for $5.3 million in 2000. The estate, built in 1988 on a 1.6-acre lot, features a main house with four bedrooms and four bathrooms, as well as a two-bedroom guest house. Amenities include a theater, pool, dock, and frontage on both the Atlantic Ocean and Intracoastal Waterway.
The home underwent renovations during the 2000s, confirmed Antonio Liguori. He declined to comment on future plans for the property by its new owner but noted that an adjacent estate was sold as a teardown last year for $37 million.
Initially listed at $45 million in 2024, the asking price was reduced to $38.5 million earlier last year before reaching its final sale price.
Liguori commented on market trends: “They love the fact that there are other high caliber billionaires that live in the neighborhood.” He added that demand remains strong for Manalapan properties due to larger lots and ocean-to-lake estates offering both beach access and private docks.
Recent high-profile transactions have included billionaire Larry Ellison’s record-setting purchase of a local compound for $173 million in 2022 and his subsequent acquisition of Eau Palm Beach Resort & Spa for over $277 million two years later. Another notable deal involved billionaire Randal Kirk finding a buyer after reducing his estate’s asking price from its original level.
