Cindy and Ron McMackin, the Pan-Pacific Mechanical owners who sold their North Lake Way Palm Beach residence to Sylvester Stallone in 2020, have signed a contract on their 22,900-square-foot, lake-to-ocean Manalapan estate at 1660 South Ocean Boulevard at an asking price of $85 million. The signing, first reported by The Real Deal on May 26, makes the property the top signed Palm Beach County luxury contract of the week and the second-highest signed contract south of the Town of Palm Beach this season. The listing was held by Margit Brandt of Premier Estate Properties.

The Property

The estate sits on two acres with 165 feet of direct Atlantic Ocean frontage and a deeded lake side that includes a private, discreet pedestrian tunnel running under State Road A1A to the beach. The main house, completed in 2020, totals 22,900 square feet across seven bedrooms and 11.5 bathrooms, with a wellness wing, a covered loggia, a pool and spa, an eight-car garage, and a freestanding guest apartment. The construction was bespoke to the McMackins after they acquired the parcel in 2020.

The McMackins paid $38.9 million for the underlying property in 2020, the same year the residence was completed to their specification. An $85 million close would mark a basis multiple of approximately 2.2x in six years, on a hold period that ran exactly through the post-pandemic Manalapan trophy cycle — the same cycle that produced the $93.3 million sale of 757 Island Drive on Everglades Island on May 21 and the $36 million close at 1632 South Ocean Boulevard on May 19.

The Manalapan Comp Set

Manalapan’s trophy tape has now produced three nine-figure-adjacent signings in roughly three weeks. The town’s pricing band, driven by lake-to-ocean parcels with private tunnel access — a Manalapan-specific zoning artifact that no other Palm Beach County municipality permits — has historically traded at a discount to comparable square footage on the Town of Palm Beach island itself. That discount has been compressing through 2026 as supply tightens. The McMackins’ $85 million print at $3,712 per square foot on the residence alone (before backing out the land-value share of the basis) puts the property in the upper quartile of the Manalapan tape and reframes the per-foot comp for any other A1A lake-to-ocean parcel coming to market this season.

The buyer’s identity has not been disclosed in the contract reporting. Industry coverage on the listing run from late 2025 forward noted that the McMackins had cut the original ask from a higher initial print before finding a buyer, a pattern consistent with the Manalapan tape’s broader negotiation behavior at the $80-million-plus band.

What It Means for the Palm Beach Trophy Tape

For collateral and asset-lending work, the operative read is the velocity of signed contracts at the $85 million-and-above band on the south side of the Lake Worth Lagoon. The 757 Island Drive close at $93.3 million on May 21, the 1632 South Ocean Boulevard close at $36 million on May 19, and the McMackin $85 million signing on May 26 together represent more than $210 million in trophy-tier residential activity within an eight-day window. The pricing-per-foot prints — $8,043 per foot at 757 Island Drive, $7,058 per foot at 1632 South Ocean, and $3,712 per foot at 1660 South Ocean — bracket the current Palm Beach County trophy market with a tight, internally consistent spread.

The trailing twelve-month Palm Beach median trophy single-family sale price, per Premier Estate Properties’ May 2026 market report, stands at $12.9 million — a 118.2 percent five-year cumulative gain. The buyer pool that supports $85 million-plus signings on the south end of the lagoon is the same pool that drives Worth Avenue retail rent compression and trophy consignment intake at Betteridge Palm Beach.

From the Borro desk: The New York May 2026 $1.8 billion auction fortnight confirms the same trophy-asset wealth concentration showing up on the Manalapan trophy tape.

Related coverage: An Under-Construction Mansion on Everglades Island Trades for $93.3 Million | 1632 South Ocean Boulevard Closes at $36 Million on May 19