A mystery buyer has strung together $311 million worth of beachfront properties in Naples’ ultra-exclusive Port Royal neighborhood.
The secret land trust paid $225 million for three properties last year, setting a record for the largest residential sale in Florida’s history, the Naples Daily News reported. More than a year later, the same trust bought a neighboring property for $86 million.
“That is roughly $311 million and about 18.5 acres of Gulf frontage in one hand. Nobody knows whose hand,” said Yasmin Saad, co-founder of Naples-based luxury real estate firm the Saad Team.
The original sale included the properties at 2170, 2200 and 2340 Gordon Drive, which Canada’s DeGroote family owned as a family compound, the outlet said. Those properties span 15 acres with more than 800 feet of water frontage.
The most recent deal involved the 3.4-acre property at 2100 Gordon Drive, which the secret buyer bought in June from the Harold Square Land Trust in an off-market sale. Records show the four properties were bought by 2200 Gordon Drive Land Trust, managed by Naples attorney Kevin Coleman. Last month, a different land trust, which Coleman also manages, acquired the property at 2340 Gordon Drive for $84 million, a major increase from its $46.9 million price in the original mega-deal.
“Something is coming to that stretch of Port Royal,” Saad said. “I do not know what yet, but I am watching it.”
The mystery buyer has sought demolition permits for the properties, according to the outlet. Last month, the city approved a permit for 2100 Gordon Drive, allowing the demolition of a two-story residence and two-story guest house, as well as a concrete pond, a walkway and driveways.
Demolition work at 2340 Gordon Drive is complete, records show. That property had a 6,000-square-foot home, a pool with a deck, a garage and storage. The buyer has been cleared to demolish structures at 2200 and 2170 Gordon Drive.
The property at 2200 Gordon Drive is the largest of the three properties in the original deal, spanning more than 8.5 acres and selling for $133 million, which was the priciest single-family home sale in the country last year, according to the publication. The 8,800-square-foot home has 11 bedrooms and 16 bathrooms.
The property at 2170 Gordon Drive had pavilions, an aviary, bridges, a jungle gym and wooden decks, all of which were approved for demolition. Tennis courts and a maintenance building will remain on the site.
Applications for new construction are still under review.
Michael McCumber of The McCumber Group at Waterfront Realty Group handled the sales of the four properties. He told Naples Daily News he expects whatever is planned for the sites to “add a couple of extra zeroes to the neighborhood, which is always good.”
Port Royal is widely considered one of the most expensive neighborhoods in the country. The average home value is $14.9 million, up 9.7 percent over the past year, according to Zillow. The least expensive home listed in the neighborhood has an asking price of $14.5 million, while the most expensive is asking $60 million, Zillow shows.
McCumber said like everyone else, he’s at a loss for the buyer’s identity.
“I’ve never met these people,” he said. “It’s always been representatives here.”
—Grace McClung
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