Second Most Expensive Home Sale Just Closed in Naples, Florida

Key Points

• $225M Sale: The DeGroote family's 15-acre estate in Naples' Port Royal sold for $225 million, marking Florida's most expensive residential transaction and the second-highest in U.S. history.

• Prime Location: Spanning 800 feet of Gulf frontage across three parcels on Gordon Drive, the property offers unparalleled beachfront access.

• Legacy Property: The estate includes multiple residences, with the centerpiece being an 8,800-square-foot mansion boasting 11 bedrooms and 16 bathrooms.

In a landmark deal, a sprawling waterfront estate in Naples' exclusive Port Royal neighborhood has sold for $225 million. This transaction not only sets a new record for Florida but also ranks as the second-highest residential sale in U.S. history, trailing only Ken Griffin's $238 million penthouse purchase in New York City. The sale underscores the escalating demand for ultra-luxury properties in Florida's most coveted locales.

The Deal Breakdown 

• Seller: The DeGroote family, known for their ventures in trucking, waste management, and financial services.

• Buyer: An undisclosed entity operating through the 2200 Gordon Drive Land Trust.

• Property Details:

  • Size: 15 acres across 2170, 2200, and 2340 Gordon Drive.

  • Frontage: 800 feet directly on the Gulf of Mexico.

  • Structures: Multiple residences, including a primary 8,800-square-foot home with 11 bedrooms and 16 bathrooms.

• Market History: Initially listed in 2023 for $295 million, the property underwent a price adjustment before achieving the $225 million sale. 

Port Royal's Prestige 

Port Royal has long been synonymous with luxury, attracting affluent buyers seeking exclusivity and beachfront living. The neighborhood's allure is further enhanced by the ongoing $100 million reconstruction of its private beach club, a project initiated after Hurricane Ian in 2022. This sale not only cements Port Royal's status but also signals a robust market for high-end real estate in the region.

Implications for the Luxury Market 

This transaction reflects a broader trend of escalating prices in Florida's luxury real estate sector. The state's favorable tax environment, combined with its desirable climate and amenities, continues to draw high-net-worth individuals. As demand surges, properties in prime locations like Port Royal are likely to see sustained interest and appreciation.

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Florida Remains Top Wealth Destination

The $225 million sale of the DeGroote estate not only sets a new benchmark for Florida's real estate market but also exemplifies the enduring appeal of ultra-luxury properties in exclusive enclaves. As affluent buyers continue to seek out premier locations, Florida's high-end market is poised for continued growth.