There is clear evidence of recovery of real estate and it is the high end real estate market that is leading this recovery. The most recent example is the sale of Acqua Liana, a seven-bedroom Tahitian-Fijian inspired estate at 620 S. Ocean Blvd. in Manalapan, for $15.5 million. Developer Frank McKinney has sold the property to the Bali 620 Realty Trust whose trustee is Ronald S Kochman. In this transaction the seller was represented by Pascal Liguori and the buyer was represented by Lawrence A Moens.
Acqua Liana means the water flower and it has a 2,000-gallon aquarium, water floors, water walls, waterfalls, Monet-inspired water gardens, water front and water views. The property is spread on a 1.6 acre plot. It has a 150 feet ocean front and 15,000 square feet of living area. And it is perhaps the first luxury home with a triple green certification obtained through national and state environmental organizations.
Frank McKinney, the president of Venture Concepts International Inc., is very upbeat about the recovery of the real estate market. He has written a book about Bubble-Proof Real Estate Strategies and he said about the sale of Acqua Liana “This sale offers added proof that the high-end market has indeed turned the corner.”