Billionaire optometrist and inventor Dr. Herbert Wertheim has acquired an oceanfront estate in Manalapan for $65 million, expanding his collection of luxury homes.
According to property records, the nearly 28,000-square-foot mansion at 1160 South Ocean Boulevard was sold by a land trust. The recorded deed shows a price of $61.8 million, with an additional $3 million covering furniture and other credits, as stated by a spokesperson from Corcoran Group. Phil and Candace Friis of Corcoran represented the seller.
The estate spans two acres and features amenities such as two swimming pools, an air-conditioned garage with space for more than 13 cars, a cabana, gate house, and a dock equipped with boat lifts. The property is among approximately 60 in Manalapan that provide access to both the ocean and the Intracoastal Waterway via an underground tunnel. It includes eight bedrooms, eight bathrooms, six half-bathrooms, and 160 feet of water frontage.
The land trust had purchased the property for $28 million in 2021; its value has more than doubled over four years.
In 2024, Wertheim bought 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, which is described as the largest producer of optical tints for eyeglasses. Forbes lists his net worth at $3.9 billion.
Real estate agents note that buyers are drawn to Manalapan because properties tend to be larger than those in Palm Beach while remaining close to locations like President Donald Trump’s Mar-a-Lago Club. Oracle co-founder Larry Ellison made headlines with his $173 million purchase in Manalapan in 2022 and further invested last year by acquiring Eau Palm Beach Resort & Spa for $277.4 million (https://therealdeal.com/miami/2023/08/15/larry-ellison-pays-record-173m-for-manapalan-estate/). Earlier this year, WeatherTech founder David MacNeil spent $55.5 million on another oceanfront site in Manalapan after buying a spec estate from developer Joe Farrell (https://therealdeal.com/miami/2024/02/09/weathertechs-david-macneil-buys-another-manalapan-property-for-56m/).
Wertheim’s recent purchase marks the first residential sale above $60 million in Manalapan since Ellison’s acquisition three years ago.
