A Florida mansion is the most expensive home in the US for sale at $295 million
The main house at Gordon Pointe spans 11,500 square feet.
The most expensive home for sale in the US hit the market this week for $295 million.
Gordon Pointe, as it is called, is a center of about 9 acres in Naples, Florida, on the Gulf Coast, in a rich fort called Port Royal.
The mega-listing includes a main house that spans around 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate’s total living space to 22,800 square feet. All three homes are on a peninsula that provides 1,650 feet of waterfront, a private yacht lagoon and a T-shaped dock.
Before you start counting up bedrooms and calculating the price per square foot (which is about $12,900), listing agent Leighton Candler of Corcoran told CNBC that the value here is so much about the size of the three large homes on the property, it’s about privacy, beach frontage and a rare opportunity for a major development.
According to the press release launching the listing, “The property can accommodate over 200,000 square feet of residential development,” meaning the land has a ton of potential.
“There can be eight waterfront homes on this property,” Candler told CNBC. Although the building may be torn apart after its purchase, the New York-based broker believes that a potential buyer will be more likely to keep it as a private family property.
Gordon Pointe’s white sandy beach stretches over 700 feet on the Gulf of Mexico.
The nine acres are made up of adjoining 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 firm’s website.
The oceanfront view of the main house and a stretch of beach on Gordon Pointe.
After that first purchase in 1985, the Donahues continued to buy more of the peninsula and didn’t stop until they owned it all. Their buying spree created a unique gated compound almost completely surrounded by water. One private drive means no through traffic.
“It gives you the benefits of being on an island, but on Gordon Pointe your family can be secluded without feeling isolated,” Candler said.
Along with a T-shaped dock that can accommodate six boats, the Donahues built a private yacht basin that is 231 feet by 50 feet and has a depth of nearly 8 feet. Candler told CNBC that it is a rare facility that had to be approved by the US Army Corps of Engineers.
A view of Gordon Pointe with the private yacht lagoon in the lower right corner.
Dawn McKenna Group/Coldwell Banker Realty
Will Gordon Pointe get $295 million?
According to Realtor.com the median listing price in Port Royal is $24.1 million.
The highest priced home, before Gordon Pointe, in the ultra luxe 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 next to Gordon Pointe has been on the market for a year, with an asking price of $63 million.
“We did our best to price it [Gordon Pointe] and we can defend that price all day long,” joint listing agent Dawn McKenna of Coldwell Banker Realty told CNBC.
McKenna said the listing is already generating a lot of interest since it went live on Wednesday and she has already arranged eight personal visits with qualified buyers.
It is not surprising to hear that listing brokers argue that an attractive price tag is justified, but there are no real comparisons at this level and buyers with enough money to pay that kind of money. And, as is the case with any real estate listing, there can be a big gap between the initial asking price and what the property ultimately sells for.
For some nine-figure context, here’s a closer look at the second and third most expensive listings currently for sale in America.
A view of the Central Park Tower at 217 West 57th St. in New York City.
Source: Cody Boone, SERHANT Studios
It is the first of two lighthouse listings that ended in New York City in September 2022.
The high-rise residence atop 217 West 57th Street, overlooking Central Park, spans three floors and more than 17,500 square feet.
Broker Ryan Serhant made headlines when he listed the mega-flat at $250 million, which he told CNBC at the time was the appropriate price.
“I know it looks crazy, but relatively speaking, it’s a great price per square foot,” Serhant said in 2022. “It’s just a very, very large apartment with lots of resources.”
But reporters questioned the steep asking price, which came to more than $14,000 per square foot.
“I think this is an incredible price,” Manhattan luxury broker Donna Olshan told CNBC in 2022.
The triplex residence sat on the market for 12 months without tenants. After a year-long run at $250 million, the asking price was reduced by $55 million, or 22%. The expensive pad is still on the market for $195 million.
It was a similar trip in Los Angeles, with the seven-bedroom, 20-bath mansion known as Casa Encantada.
The mansion, located at 10644 Bellagio Road in Bel Air, is owned by children’s book author Karen Winnick, widow of the late billionaire and financier Gary Winnick.
The residence hit the market in June for $250 million.
After the sky-high asking failed to attract a buyer, the home was taken off the market only to reappear in November with a $55 million price cut.
Record producer Kurt Rappaport is still looking for a buyer willing to pay the $195 million.
Nine-figure whiskey sales
The reality is that nine-figure listings can take months, even years, to sell, and that’s not necessarily a reflection of a broker’s ability.
Real estate consultant Jonathan Miller, president of Miller Samuel, looked at 10 U.S. home sales that traded for $150 million or more and found that many of them were so-called whiskey listings — sales fueled by word of mouth marketing. – silent mouth and no public truth. estate listings or marketing campaigns.
That makes it nearly impossible to track price changes over the lifetime of the listings.
Jeff Bezos gives a thumbs up while speaking at an event about Blue Origin’s space exploration plans in Washington, DC, May 9, 2019.
Clodagh Kilcoyne | Reuters
But perhaps not surprisingly, many famous billionaires are involved in these sales, including hedge funder Ken Griffin, Amazon founder Jeff Bezos, Oracle co-founder Larry Ellison and mega- investment Marc Andreessen, who each quietly raised a nine-figure combination. – market contracts.
Chartwell Estate in Los Angeles
Photo by Jim Bartsch, courtesy of the Jerry Perenchio Estate
One famous mega-mansion of the 10 transactions that Miller put together officially came to market and has an interesting price history.
In 2017, the mansion at 750 Bel Air Road in Los Angeles, known as the Chartwell Estate, was priced at $350 million. It sat on the market without a bite, and the exorbitant asking price took several deep cuts, to $195 million.
In 2019 the last estate sold for $150 million, bought by Lachlan Murdoch, executive chairman and CEO of Fox Corp. and the son of media mogul Rupert Murdoch.
And another interesting mega-deal made the list: the Malibu mansion located at 27712 Pacific Coast Highway. Although it has never been publicly listed, The Wall Street Journal reported that the price tag of its whiskey is $295 million.
When it sold in 2023 in an off-market deal to music power couple Jay-Z and Beyoncé, it went for $190 million.