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August 08.2025

2 Minutes Read

Why Sonny Kahn's $28M Purchase in Manalapan Signals Luxury Demand

Sonny Kahn pays $28M for oceanfront estate in Manalapan

Developer Sonny Kahn Expands Real Estate Footprint with Major Purchase

In a significant move within South Florida's luxury real estate market, developer Sonny Kahn and his wife, Suzanne, have purchased a stunning oceanfront estate in Manalapan for $28 million. This acquisition follows the couple's recent sale of their Miami Beach mansion for an impressive $105 million earlier this summer. The Kahn family's growing portfolio demonstrates the ongoing allure of coastal properties in Florida.

Luxurious Features of the Manalapan Estate

The newly acquired Manalapan estate spans 1.6 acres and boasts a wealth of luxurious amenities. Built in 1997, this sprawling 18,000-square-foot residence includes seven bedrooms and eight bathrooms, alongside three half-bathrooms. Notably, the property features a tennis court, a boat dock, and an oceanfront pool with a spa, perfect for those seeking both relaxation and recreation. Originally listed for nearly $40 million in February 2024, the estate reflects the high stakes and competitive environment of the high-end real estate market.

The Real Estate Landscape in Manalapan

Manalapan, a wealthy enclave just south of Palm Beach, continues to attract attention from affluent buyers. As the demand for luxurious waterfront properties grows, prices in this exclusive community are progressively rising. One of the most significant listings in the region includes an estate priced at a staggering $285 million—a figure that could break records for home sales in the state of Florida. The sale of Kahn's new property may have set the stage for even more remarkable transactions in the coming years.

Key Figures in Florida's Real Estate Market

Sonny Kahn is a prominent figure in the Miami-based development firm Crescent Heights, which is known for its projects across major U.S. cities, including New York and Chicago. Alongside Kahn, Russell Galbut and Bruce Menin are other key leaders driving Crescent Heights' ambitious real estate ventures. Their influence on the market highlights a trend where experienced developers are stepping up investments in coastal areas, aiming to capitalize on continued demand.

A Bright Future for Florida Real Estate

As real estate prices continue to soar, buyers like Sonny Kahn are making bold moves that signify both confidence in the market and a desire to secure lavish properties. This recent transaction underscores the ongoing trend of high-value purchases in Florida, emphasizing the unique appeal of oceanfront estates for luxury seekers. Florida homeowners and potential buyers should watch closely as this market evolves, presenting opportunities and challenges.

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Reviving Housing Solutions: Lennar's Plan for 7,800 Homes Outside Miami-Dade

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08.07.2025

Luxury Miami Penthouse Sale by Guggenheim Exec's Estate Shines Light on Market Trends

Update Scott Minerd's Luxe Miami Penthouse Transaction The estate of Scott Minerd, the late Guggenheim Partners founding partner, has successfully sold two penthouses at Biscayne Beach in Miami for a total of $17.8 million. Minerd had originally purchased these units in April 2021 for $12.5 million, with plans to merge them into one expansive living space, which could have become one of the largest penthouses in Miami, spanning over 22,000 square feet. A Strategic Investment for the Future Minerd’s condos, located in the Edgewater neighborhood, were part of an impressive portfolio estimated at around $400 million at the time of his unexpected passing due to a heart attack in late 2022. The aim was not only luxury but also a strategic repositioning in a lucrative market. At the time of Minerd’s death, he was keen on creating a remarkable living space that would embody his sophisticated taste. Real Estate Agents Reflect on a Bittersweet Sale Bill Hernandez and Bryan Sereny from Douglas Elliman, who facilitated both the purchase and sale of the properties, reflected on the emotional weight of the transaction. Hernandez commented on how sad it is that Minerd could not achieve his vision for the penthouses, saying, “I’m sad he never got to do what he wanted to do.” The first unit sold for $8.3 million and the second unit went for $9.5 million, evidencing the robust real estate market in Miami for upscale properties. A Transforming Market: What This Means for Local Homeowners This high-profile sale underscores the continuing desirability of Miami’s luxury real estate market. With prices soaring and developments like Biscayne Beach evolving, current Florida homeowners are witnessing both an opportunity and a challenge in navigating property values. Local homeowners could see an increase in their property values amidst such transactions reflecting affluent demand. Implications of Minerd's Legacy in Miami Real Estate The sale of Minerd's penthouses serves as a stark reminder of the intersection between wealth, real estate investment, and personal aspirations. As his estate manages the remnants of a complex portfolio, the Miami real estate landscape will continue to evolve, shaped by both the past legacies and future ambitions of its notable residents. It's crucial for potential buyers and current homeowners alike to stay informed about market trends that could impact their financial investments in the vibrant Miami community. As Florida homeowners, monitoring sales such as these not only offers market insights but also highlights the unique blend of lifestyle and investment intrinsic to living in this thriving region.

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Why Sonny Kahn's $28M Purchase in Manalapan Signals Luxury Demand

Developer Sonny Kahn Expands Real Estate Footprint with Major Purchase

Luxurious Features of the Manalapan Estate

The Real Estate Landscape in Manalapan

Key Figures in Florida's Real Estate Market

A Bright Future for Florida Real Estate

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