Florida mansion is most expensive U.S. home for sale at $295 million


Gordon Pointe's main house spans 11,500 square feet.

The most expensive home for sale in the United States hit the market this week for $295 million.

Gordon Pointe, as it is called, is a roughly 9-acre resort located in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal.

The mega-listing includes a main house of approximately 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate's total interior living space to 22,800 square feet. All three homes sit on a peninsula that offers 1,650 feet of waterfront, a private yacht basin and a T-shaped dock.

Before we start counting rooms and calculating the price per square foot (which is about $12,900), co-listing agent Leighton Candler of Corcoran told CNBC that the value here doesn't depend so much on the size of the property's three large homes, it offers privacy, beach frontage and a rare opportunity for significant development.

According to a press release that initiated the listing, “The property can accommodate over 200,000 square feet of residential development,” meaning the land has enormous untapped potential.

“There may be eight waterfront homes on this property,” Candler told CNBC. Although the property could be demolished after purchase, the New York-based broker speculates that a potential buyer will more likely keep it as a private family compound.

Gordon Pointe's white sand beach stretches more than 700 feet onto the Gulf of Mexico.

The nine acres consist of contiguous lots, the first of which was purchased in 1985 by John and Rhodora Donahue. John Donahue co-founded a Pittsburgh-based investment management firm now known as Federated Hermes with more than $758 billion in assets under management, according to the company's website.

The waterfront view from the main house and a stretch of beach on Gordon Pointe.

After that first purchase in 1985, the Donahues continued to acquire more of the peninsula and didn't stop until they owned it all. Their buying spree created an exclusive, gated resort almost entirely surrounded by water. A single private ride means no pesky through traffic.

“It gives you all the benefits of being on an island, but at Gordon Pointe your family can be isolated without feeling isolated,” Candler said.

In addition to a T-shaped dock that can accommodate six boats, the Donahues also built a private yacht basin measuring 231 feet by 50 feet and having a depth of nearly 8 feet. Candler told CNBC it was a rare piece of equipment that needed to be approved by the U.S. Army Corps of Engineers.

A view of Gordon Pointe with the private yacht basin in the lower right corner.

Dawn McKenna Group / Coldwell Banker Realty

Can Gordon Pointe bring in $295 million?

According to Realtor.com, the median listing price in Port Royal is $24.1 million.

The most expensive home, before Gordon Pointe, in the ultra-luxury beachfront community hit the market in December at $45 million, or just under $4,300 per square foot. Meanwhile, a nearly 1.5-acre vacant lot adjacent to Gordon Pointe has been on the market for a year, with an asking price of $63 million.

“We did our best to set the price [Gordon Pointe] and we can defend that price all day long,” co-listing agent Dawn McKenna of Coldwell Banker Realty told CNBC.

McKenna said the listing is already seeing considerable interest since it went live Wednesday and she has already booked eight in-person showings with pre-qualified buyers.

It's not surprising to hear listing brokers say that an exorbitant price is justified, but true comparisons at this level and buyers with enough money to pay that kind of money are rare. And, as is the case with any real estate listing, there can be a significant gap between the initial asking price and the final sale price of a property.

For nine-figure context, here's a closer look at the second and third most expensive listings currently on sale in America.

A view of the Central Park Tower at 217 West 57th St. in New York.

Source: Cody Boone, SERHANT Studios

The first of the two listings is a penthouse that debuted in New York in September 2022.

The residence sits atop 217 West 57th Street, overlooking Central Park, and spans three stories and spans more than 17,500 square feet.

Broker Ryan Serhant made headlines when he listed the mega-apartment at $250 million, which at the time CNBC told was the appropriate price.

“I know it sounds crazy, but relatively speaking, the price per square foot is very good,” Serhant said in 2022. “It's just a very, very large apartment with lots of amenities.”

But opponents questioned the asking price, which was more than $14,000 per square foot.

“I consider it a fantastic price,” Manhattan luxury broker Donna Olshan told CNBC in 2022.

The triplex residence remained on the market for 12 months without a buyer. After a year at $250 million, the asking price was reduced by $55 million, or 22 percent. The expensive notebook is still on the market for $195 million.

Inside the $250 million penthouse on 'Billionaires Row'

It was a similar trip to Los Angeles, with the seven-bedroom, 20-bathroom mansion known as Casa Encantada.

The mansion, located at 10644 Bellagio Road in Bel Air, is owned by children's book author Karen Winnick, the widow of the late billionaire and financier Gary Winnick.

The residence went on the market in June for $250 million.

After sky-high demand failed to attract a buyer, the home was taken off the market only to reappear in November with a $55 million price cut.

Listing agent Kurt Rappaport is still looking for a buyer willing to pay the $195 million price tag.

Nine-figure whisper sales

The reality is that nine-figure listings can take months or even years to sell, and that doesn't necessarily reflect a broker's ability.

Real estate consultant Jonathan Miller, president of Miller Samuel, looked at 10 U.S. home sales that were trading for $150 million or more and found that many of them were so-called whisper listings – sales that exploited quiet word-of-mouth marketing and no real audience. real estate advertisements or marketing campaigns.

This makes it almost impossible to track price changes throughout the lifespan of the ads.

Jeff Bezos gives a thumbs up as he speaks at an event about Blue Origin's space exploration plans in Washington, DC, May 9, 2019.

Clodagh Kilcoyne | Reuters

But unsurprisingly, many famous billionaires are involved in these sales, including hedge fund Ken Griffin, Amazon founder Jeff Bezos, Oracle co-founder Larry Ellison and mega-investor Marc Andreessen, who each bought nine-digit dials with complete peace of mind. -market offers.

The Chartwell Estate in Los Angeles

Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio

One notable mega-mansion among the 10 deals compiled by Miller has officially hit the market and has an interesting pricing history.

In 2017, the mansion at 750 Bel Air Road in Los Angeles, known as the Chartwell Estate, cost $350 million. It sat on the market without a bite, and the oversized asking price underwent several significant reductions, reaching $195 million.

In 2019, the estate was finally sold for $150 million, purchased by Lachlan Murdoch, executive chairman and CEO of Fox Corp. and son of media mogul Rupert Murdoch.

Take a look inside Lachlan Murdoch's new $150 million Los Angeles mansion

And another interesting mega-deal made the list: a Malibu mansion located at 27712 Pacific Coast Highway. Although it was never publicly traded, the Wall Street Journal reported that its rumored price was $295 million.

When it was sold in 2023 in an off-market deal to musical power couple Jay-Z and Beyoncé, it cost $190 million.



Source link

Scroll to Top