Aviation executive Robert G. Fessler has sold his oceanfront estate in Manalapan, Palm Beach County, for $31.5 million. The sale of the property at 880 South Ocean Boulevard was confirmed by listing agents Antonio and Pascal Liguori of Premier Estate Properties, who also represented the buyer. The identity of the buyer has not been disclosed, and the deed has not yet appeared in public records.
Fessler is known for his involvement with several aftermarket aircraft products companies, including Magellan Aviation Group and Aeronautical Support International. He has a history of investing in luxury residential properties in Palm Beach County. In 2017, he sold a spec mansion in Palm Beach for $49 million.
According to property records, Fessler and Daphne Fessler purchased the Manalapan mansion for $5.3 million in 2000. Built in 1988 on a 1.6-acre lot, the estate features a main house with four bedrooms and four bathrooms totaling 6,700 square feet, as well as a two-bedroom guest house. Amenities include a theater, pool, dock, and 150 feet of frontage on both the Atlantic Ocean and Intracoastal Waterway.
Antonio Liguori confirmed that Fessler renovated the home during the 2000s but did not comment on what plans the new owner may have for the property. He noted that an adjacent estate sold as a teardown last year for $37 million.
The property was first listed at $45 million in 2024 before its price was reduced to $38.5 million earlier last year.
Liguori described strong demand in Manalapan’s real estate market but indicated buyers are especially interested in new construction homes or lots suitable for building custom residences. He said buyers are attracted to Manalapan because of its larger lots, proximity to Palm Beach, and estates that offer both ocean frontage and access to personal docks on the Intracoastal Waterway.
“They love the fact that there are other high caliber billionaires that live in the neighborhood,” Liguori said.
In recent years, notable transactions have included billionaire Larry Ellison purchasing a 16-acre compound for $173 million in 2022 and acquiring Eau Palm Beach Resort & Spa for $277.4 million in 2024. Another recent deal involved billionaire Randal Kirk finding a buyer after reducing his estate’s asking price from $90 million.
