David and Margaret Lumia, two entrepreneurs who enriched themselves in the 1990s by founding a medical manufacturing firm, have put their expansive Manalapan estate for sale at $43.9 million — the fourth most expensive home on the market for the ritzy barrier island.
The two-acre compound at 1340 South Ocean Boulevard has a little more than 19,000 square feet of living space spread between a main two-story house on the ocean and a separate guest house. Its grounds span the entire width of the island, housing a tennis court and a dock on the Intracoastal Waterway. Its asking price breaks down to $2,310 per square foot.
County records show the Lumias bought the home in 2008 for $10.25 million and built the guest house, an addition to the main home as well as the swimming pool.
At the $43.9 million asking price, the Lumias’ home is Manalapan’s fourth-priciest listing. The first is the Ziff family’s massive estate that’s asking $195 million, one of the country’s most expensive homes up for grabs.
David and Margaret Lumia are known for founding medical manufacturing company Excelsior Medical Corp., which produced and sold a plethora of devices like pre-filled flush syringes. The company was acquired by RoundTable Healthcare Partners in 2004 for an unknown amount.
