$285 million Florida mansion becomes one of America's priciest home listings... but there is a giant catch

A remarkable new listing has landed on the market in Florida, which is among the most expensive in American history - but it has yet to be built.

A developer in Manalapan, in Florida's Palm Beach County, has listed a planned spec mansion for a staggering $285 million. 

That places the property, which will only begin construction if there is a buyer, among the priciest ever listed for sale in the US.

A nine-acre compound in Naples, Florida, broke records when it was listed for $295 million last February, but it has yet to sell.

A New York City apartment currently holds the record for the most expensive US home sale, after it was bought by billionaire hedge fund manager Ken Griffin in 2019 for $240 million. 

Any prospective buyer of the Manalapan home will have fellow billionaire Larry Ellison as a neighbor, as the land sits next to the Oracle co-founder's sprawling estate.

The property is also a few minute's drive from Donald Trump's Mar-a-Lago home. 

Its seller is Stewart Satter, a local developer who briefly served last year as the mayor of the town, which is also home to Fox News star Sean Hannity. 

Satter stepped down as mayor after only a few months after new financial disclosure rules required that he disclose his income and wealth, which he was uncomfortable providing, according to The Wall Street Journal.

The four-acre property spans from the Intracoastal Waterway to the Atlantic Ocean. 

There is also a private tunnel underneath South Ocean Boulevard, which runs down the middle of the property. 

The home will boast amenities including a gym, spa, wine cellar, padel room, movie theater and bowling alley.  

It will also have more unusual features such as a golf simulation room, a shooting range and a 'car museum' which will allow the owner to showcase their prized vehicles.

The main residence will span an impressive 50,390 square feet, offering eight bedrooms, nine full bathrooms, seven powder rooms, two kitchens designed for both everyday use and catering, two laundry rooms, and dedicated staff quarters.

The plans also call for an expansive guesthouse and a boat house - plus landscaped grounds complete with a 3,700-square-foot infinity pool area with waterfalls and lagoons.

The property will also come with a private dock, and more than 700 feet of ocean frontage. 

'This estate is the culmination of vision, craftsmanship, and location, blending unmatched amenities with the tranquility of Manalapan's coastal lifestyle,' Satter said in a press release.

'Someone spending $285 million is expecting everything. And in that property, they're going to get everything,' he told the outlet. 

The $285 million mansion is the latest in a series of high-profile residential developments by Satter. 

In 2020, he sold a Manalapan estate he built for about $39 million to a couple who had sold their Palm Beach home to Sylvester Stallone, he noted. 

Two years later, Campbell Soup heiress Mary Alice Dorrance Malone purchased a lot he owned, along with commissioned plans, for $40 million.

When asked if the hefty price tag for his latest project was realistic, Satter described himself as 'a pretty realistic person.' 

He compared it to a recent $150 million listing on Palm Beach's Billionaires' Row, which included only about half the acreage of his property.

The property is not yet under construction, as he expects that any buyer may want to customize or amend the plans. 

'This estate is unlike anything the market has ever seen,' said agent Nick Malinosky of The Exclusive Group at Douglas Elliman. 

'Its sheer scale, impeccable design, and unmatched amenities make it a true icon of luxury living. 

'This is more than just a home - it's a statement, a record-breaking achievement that will forever redefine the standard of ultra-luxury real estate.'

In recent years, Manalapan has seen a huge hike in home values, helped largely by its proximity to Palm Beach, which is located around 10 miles north.

The Covid pandemic further accelerated this trend, attracting affluent buyers from the Northeast to South Florida, according to Satter.

In 2022, Oracle co-founder Larry Ellison set a local record when he purchased a $173 million home in Manalapan. 

He later acquired the Eau Palm Beach Resort & Spa in the town for approximately $277 million. More recently, in December, Sean Hannity purchased an estate there for $23.5 million.

The town's appeal lies in its sprawling estates and relative seclusion, making it a quieter, more private alternative to Palm Beach, just 10 miles to the north. 

With a population of around 400 and its own dedicated police force, Manalapan offers exclusivity and privacy that wealthy buyers find irresistible.