Naples estate returns at $195 million after $100 million price cut
The Gordon Pointe estate in Naples, Florida, has returned to the market with a $195 million asking price after a $100 million reduction. The property, which spans 5.39 acres, was previously listed for $295 million and remains one of the most expensive residential listings in the United States.
Why it matters
This listing highlights the cooling or recalibration of the ultra-luxury real estate market in the U.S. following a period of record-breaking price tags.
A home once listed for a staggering $295 million is back on the market in Naples, Florida, but at a dramatically lower price. Gordon Pointe, the sprawling waterfront estate in the exclusive Port Royal neighbourhood, is now asking $195 million after being reduced and reshaped into a 5.39-acre offering. Realtor.com, which reported the latest listing, described the property as an iconic waterfront estate returning to the market after a $100 million price cut. Despite its extraordinary location, scale and private harbour, the estate has yet to find a buyer.From a $1 million purchase to a $295 million listingGordon Pointe has a remarkable history. Financier John Donahue began assembling the property in 1985, when he bought his first roughly four-acre waterfront parcel for about $1 million. Over the years, he expanded the family's holdings, eventually creating a much larger private compound.
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