Auto dealer sells $30M homesite in the “next billionaire’s bunker”

A company managed by auto dealer Ralph Gesualdo sold a lake-to-ocean Manalapan homesite for $30 million after holding the property for a decade. Gesualdo’s MGM Designs LLC sold the site at 1820 South Ocean Boulevard to an entity linked to Palm Beach-based attorney Maura Ziska of Kochman & Ziska, property records show.  The true buyer’s identity is unclear. Ziska declined to comment on the off-market deal. The nearly 2-acre site on Manalapan, an island south of Palm Beach, last sold in 2015, when Illinois-based MGM Designs bought it from former investment banker Robert Steinberg for $7 million, meaning it more […]

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