David Hoffmann Purchases Naples Single Family Estate At 575 Admiralty Parade West For $85M

The property involved in this transaction is a newly built single-family estate located at 575 Admiralty Parade West in Naples, featuring an expansive 17,202 square feet of living space and 250 feet of bay frontage. The estate was purchased for $85,000,000, resulting in a price per square foot of $4,941.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $85,000,000
• Address: 575 Admiralty Parade West
• Market: Naples
• Square Footage: 17,202
• Price per Square Foot: $4,941
• Buyer: David Hoffmann
• Broker: Chris Resop - The Agency
• Broker: Timothy Savage - Gulf Coast International Properties
• Previous Sale Price: $5,850,000 (2021)

The deal was brokered by Timothy Savage of Gulf Coast International Properties and Chris Resop of The Agency, facilitating the transaction for billionaire buyer David Hoffmann. The property previously sold for $5.85M in 2021, indicating a significant appreciation in value since that time.