Naples Transformed into a Hub for High-End Property Market
Booming Luxury Market in Naples: The Donahue Family's Record-Setting Compound
Naples, Florida, is currently experiencing a surge in its high-end luxury market, with the Donahue family's sprawling compound at Gordon Pointe leading the charge.
Purchased for $1 million in 1985, the original 4.3-acre beach area has since expanded to an impressive 60 acres. The main house, spanning 11,500 square feet, boasts six bedrooms and a screened-in pool. Over the years, the family has added two guest houses, the first in 1990, a 5,500-square-foot house featuring five bedrooms and an outdoor pool, and the second in 2013, a 5,800-square-foot house overlooking an outdoor pool and a T-shaped dock for six boats.
The Donahue family, with 13 children, 84 grandchildren, and 179 great grandkids, owns 1,660 feet of prime waterfront real estate in Naples. They have turned Gordon Pointe into a hub of grand events, hosting famous golfers like Arnold Palmer and large gatherings of up to 100 people every Friday and Saturday night. Notable bishops and cardinals, epic Easter egg hunts, and festive Halloween parties were regular events at Gordon Pointe.
The Donahue's sprawling compound was recently listed for a record-setting $295 million, making it the most expensive home listing in Florida's history. However, it is worth noting that the company that acquired 27 properties in Downtown Naples for $300 million in October 2023 is not mentioned in the provided search results.
In affluent areas such as Old Naples, Aqualane Shores, and Port Royal, the spike in luxury-property sales is even more pronounced. A "teardown" in Aqualane Shores fetches $5 million to $6.5 million, while new construction can cost $14 million to $25 million. It is difficult to find a lot for $10 million in Port Royal.
Median sales across Naples have surged 13.8% year over year, indicating a robust and continuing growth in the luxury real estate market. As Naples undergoes a makeover in downtown, with a local developer selling 27 downtown properties to an Aspen, Colorado-based developer for $300 million, it seems that the luxury market in Naples is poised for even greater heights.
