Billionaires Larry Ellison and David MacNeil have jointly acquired a 4-acre waterfront property in Manalapan, Florida, formerly slated for a $285 million megamansion, effectively preventing the development of the estate and ensuring no new neighbors between their respective compounds. The acquisition, totaling $67 million, marks a decisive end to plans for what would have been one of the largest and most expensive residential projects in the United States.

According to property records, MacNeil, founder of the automotive accessories company WeatherTech, purchased the northern half of the ocean-to-Intracoastal parcel for $32 million. Oracle co-founder Ellison paid $35 million for the southern section, adjacent to his own 15-acre estate. The deals are expected to close in the coming weeks.

The property, located at 1960 S. Ocean Boulevard, had garnered attention after local developer and former Manalapan Mayor Stewart Satter announced plans for a sprawling 50,000-square-foot mansion covering the site. The proposed residence, priced at $285 million, would have been the most expensive home sale in U.S. history. The original 12,200-square-foot house built in 1989 was demolished to prepare for construction.

Satter had assembled a team of top designers and architects to create a trophy estate featuring luxury amenities such as a bowling alley, car museum, wellness center, golf training facility, padel court, and extensive entertainment spaces. However, as the project progressed, many prospective buyers showed greater interest in purchasing the land alone rather than the completed mansion.

Real estate broker Nick Malinosky of Douglas Elliman noted that ultra-wealthy buyers often preferred acquiring raw land to design custom compounds tailored to their specific requirements and staff arrangements. Following this shift in buyer preferences, the property listing was amended last November to offer the land separately for $75 million, excluding the mansion plans.

MacNeil confirmed the motivation behind his purchase, highlighting the desire for additional space for his three Golden Retrievers. The combined acquisitions now serve as a private buffer zone, ensuring privacy and preventing the development of an intrusive neighbor between the two billionaire estates. This outcome starkly contrasts with Satter’s initial vision, which sought to introduce an unprecedented luxury residence to the exclusive Florida beachfront enclave.