Naples, Florida Rules Real Estate Market with $85 Million High-end Home Sale
Wealthy entrepreneur purchases multi-million-dollar estate in Florida
Real estate guru Tarek El Moussa recently shared his insights on the impact of slightly lowered mortgage rates on the real estate market. Meanwhile, the luxurious real estate scene in Naples, Florida, is bustling with a staggering eight-figure property sale.
A marginally less than 17,000 square foot mansion in the affluent Port Royal neighborhood of Naples was snapped up for a whopping $85 million, setting a new record for Collier County. The Agency Naples' Chris Resop and Gulf Coast International Properties' Timothy Savage facilitated this massive deal, acting as the representatives for both the seller and buyer.
The eye-popping price of the mansion affirms the highest price ever recorded for a non-beachfront single-family residence in Collier County.
Built on more than 2.25 acres, the opulent abode boasts not one, not two, but eight bedrooms and 10.5 bathrooms. The property was designed for grand entertaining, as evidenced by its spacious living areas. Flows from a grand formal living room to a sleek kitchen and adjoining family room create a seamless living experience.
The dining room is accompanied by a remarkable glass-paneled wine room. Enticing features like a home theater equipped with an oversized screen supplement the mansion's allure. Even though the home doesn't sit directly on the beach, it boasts a stunning 250 feet of water frontage on Naples Bay. With breathtaking water views gracing nearly every room of the house, buyers can indulge in beautiful sea vistas all day long. A serene pool adds to the property's cool appeal, perfect for soaking up the Florida sun.
David Hoffman, tycoon behind Hoffman Family of Companies, made the purchase. He is worth an estimated $2 billion, as per Forbes. Though Naples may not surpass Palm Beach in total wealth due to its size, the city boasts the highest per capita income in the U.S., making it one of the country's wealthiest cities.
Resop points out that Naples has remained undervalued for years, but recent years have witnessed a remarkable surge in the city's recognition as a top luxury market in the U.S. In fact, the city registered 72 sales of ultra-luxury homes (worth at least $10 million) over the past year, culminating in combined sales of $1.02 billion.
This trend indicates that Naples real estate market continues to maintain its competitive edge within the high-end real estate market across the nation.
- Tarek El Moussa recently commented on the influence of slightly lowered mortgage rates on the real estate market.
- A $85 million mansion in Naples, Florida, purchased by David Hoffman, worth an estimated $2 billion, has set a new record for Collier County.
- Compared to Palm Beach, Naples may not have the total wealth but it has the highest per capita income in the U.S., making it one of the country's wealthiest cities.
- Naples real estate guru Chris Resop suggests that Naples has been undervalued for years but has recently gained significant recognition as a top luxury market in the U.S.
- In the past year, Naples registered 72 sales of ultra-luxury homes (worth at least $10 million), with combined sales of $1.02 billion.
- The opulent mansion, built on over 2.25 acres, boasts a breathtaking 250 feet of water frontage on Naples Bay, offering stunning views and a serene pool.
