Frank and Dolores Mennella purchased an ocean-to-lake estate in Manalapan for $51.7 million, according to property records released on Apr. 3. The transaction adds another high-value property to the couple’s portfolio of Palm Beach County homes.
The sale reflects the ongoing trend of luxury real estate acquisitions in Manalapan, a location known for its large estates with both ocean and Intracoastal Waterway access. The property at 1460 South Ocean Boulevard spans 1.5 acres, equating to $34.5 million per acre and $2,624 per square foot.
Vivian Dimond, who heads Miami-based Bayshore Grove Capital, was the seller of the estate after purchasing it in 2024 following a foreclosure involving previous owner Onajite Okoloko. Dimond completed construction on the nearly 19,700-square-foot mansion that features six bedrooms, eight bathrooms, five half-bathrooms as well as amenities such as a salon, game room, wellness wing, indoor and outdoor pools, tennis court, a dock and a garage that can accommodate up to sixteen cars.
Dimond initially relisted the home for $79 million in 2024 before reducing the price several times prior to this sale. The listing agents were Gary Pohrer with Serhant and Christopher Leavitt with Douglas Elliman; Philip Lyle Smith with Luxury Resort Portfolio represented the buyers.
The Mennellas have been active investors in Palm Beach County’s luxury market: last year they bought a mansion in Jupiter’s Bear’s Club community for $48 million—a record at that time—and recently sold another Manalapan estate at 1940 South Ocean Boulevard for $68.3 million to WeatherTech founder David MacNeil.
This latest purchase brings their total spend on current Palm Beach County homes to nearly $99.7 million. Other notable sales this season include Dr. Herbert Wertheim’s acquisition of a nearby mansion for $62 million.
