THE ASK: An oceanfront estate in Florida's Palm Beach County is coming on the market for $59.95 million-more than three times its purchase price in 2018.

THE SELLER: Freedom Mortgage founder and CEO Stanley Middleman and his wife, Roslyn Middleman, paid roughly $19.88 million for the property in Ocean Ridge, Fla., about eight years ago, property records show.

The couple bought the house from the developer and have not made major changes, said listing agent Nicholas Malinosky of Douglas Elliman, who is marketing the property with colleague Michael O'Connor. Malinosky declined to comment on the seller but said his client is selling because he purchased something else nearby. The Middlemans did not respond to requests for comment.

THE SPECS: Set on 1.55 acres, the five-bedroom house has about 10,520 square feet of interior living space with wood paneling and fabric wall coverings. There is a club room with a full bar and fireplace, multiple terraces and an outdoor kitchen.

THE MARKET: Ocean Ridge is one of several small towns in Palm Beach County that have attracted massive wealth since the pandemic. Located just south of Manalapan, Ocean Ridge has only a handful of oceanfront estates, and the limited inventory has played a "massive role" in driving up property values, Malinosky said.

The $59.95 million asking price reflects that surge. "They're not shooting for the stars," he said of the Middlemans. "They're aligning the property to sell this season."