Naples Florida Luxury Estate Cuts Price by $85 Million to $210 Million
An ultra-exclusive Naples Florida luxury estate in the Port Royal neighborhood has seen its price drop drastically. Once considered the most expensive home for sale in America, this prestigious estate, originally listed at $295 million, is now available for $210 million, marking a significant price adjustment.
The drop in price is not due to market variation but rather to a different offering on property. The sellers chose to keep a part of the estate for private use. According to Dawn McKenna of Coldwell Banker Realty, this was primarily due to high interest from potential buyers in the Gulf-side beachfront part.
“The owners couldn’t let go of the prime beachfront portion and decided to hold onto the remaining 4.04 acres, including the yacht basin,” McKenna noted.
Formerly known as Gordon Pointe, the existing listing of the property features an available five-acre plot hosting a main house, a guest house, and a completely spectacular 941 linear feet of Gulf and bay frontage, which is impossible to find in Naples.
The estate is owned by the Donahue family. John “Jack” F. Donahue, a successful philanthropist and co-founder of Federated Investors, originally started building the estate in the 1980s. When he died in 2017 and his wife Rhodora died a few years later, the large estate was left behind to their 13 children and more than 80 grandchildren.
Even though the price has come down considerably, the price per acre has gone up with the revised land offering. According to Mike Dodge, director of education and market research for John R. Wood Properties, this adjustment may appeal to a larger pool of high-net-worth buyers.
Ultra-luxury real estate remains the sought-after gold of Port Royal. Another noteworthy waterfront estate on the market for $175 million puts it firmly among the country’s priciest listings. Three adjacent properties on Naples’ Gordon Drive tied to the DeGroote family present a once-in-a-lifetime opportunity to create a 15-acre legacy estate for $295 million.
Collier County’s record home sale stands at $62 million, recorded in 2022. That Gulf-front mansion, with six bedrooms, 11 bathrooms, and 11,800+ square feet of living space, is back on the market for $77 million.
Meanwhile, in Manalapan, a wealthy enclave south of Palm Beach, a developer has put on the market an ocean-to-lake estate yet to be built for $285 million. When completed, the sprawling mansion will sit beside a property owned by Oracle billionaire Larry Ellison.
Located in prime, Gordon Pointe offers the opportunity to construct a custom family compound or to subdivide the estate into several residences. Naples’s luxury market continues to rise with high-profile buyers looking for exclusive waterfront property in Florida’s most elite communities.
For more information on luxury real estate in Naples, Florida, contact the Dawn McKenna Group, The Leighton Candler Team, or Rory McMullen of Savills.
