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Palm Beach County homes: Manalapan ocean-to-lake estate sells for $19 million

Posted On: 12-26-2018

An ocean-to-lake estate at 1500 S. Ocean Blvd. in Manalapan has changed hands for $19 million, according to the deed recorded today.

The seller was Michael C. Marcon, acting as personal representative of the estate of his father, Frederick R. Marcon, who built the house with his wife, Natalie.

Robert G. Schemel was on the buyer’s side, serving as trustee of a revocable trust in his name.

Frederick Marcon died in January 2017, a few years after his wife’s death in 2012. He had retired as chairman and chief executive officer of New Jersey-based Insurance Services Office.

Courthouse records show Schemel’s trust owns another property nearby on the lakefront at 823 Lands End Road in Lantana.

The six-bedroom house that just sold has 15,648 square feet of living space, inside and out, property records show. The property measures 1.6 acres with 178 feet on the ocean. Among its features are a waterfront loggia, a 60-foot concrete dock equipped with electricity, and an infinity-edge pool and whirlpool spa.

Listing agent Kathryn Gillespie of Illustrated Properties had the house priced at $24.9 million. The deal closed a little more than three months after she listed it, according to records in the multiple listing service.

Corcoran Group agent Diana Lynne Reed handled the buyer’s end of the sale. She said Schemel did not want to comment about the transaction.

Professional and business records identify Schemel as president of American Eldercare Inc. of Delray Beach. The company is a service provider for Florida’s Long Term Care Diversion Program and a home health care agency with Medicare certification, according to internet sources. American Eldercare is affiliated with Heritage Park Retirement Communities, also of Delray Beach. Schemel is also linked to a variety of other companies in Florida business records.

The house was designed by Randall E. Stofft Architects and built by Cudmore Builders in 2008, according to a statement about the sale released by Illustrated Properties.

The layout includes a home office, a guest suite and a “gathering lounge” and club/media room, the agency’s statement said. There also are fireplaces, an exercise room, an elevator and laundry rooms on both floors.

The house stands about 1½ miles south of the Lake Avenue bridge.

Using a limited liability company, Frederick Marcon paid $8.29 million for the property in March 2005, property records show. He transferred ownership into his and his wife’s name in December 2008.

Last May, an ocean-to-lake house at 700 S. Ocean Blvd. in Manalapan sold for $18.5 million, courthouse records show.

Illustrated Properties is part of The Keyes Co.



Source: Darrell Hofheinz, December 26, 2018, Palm Beach Daily News

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