A nine-acre estate in Naples, Florida is now on the market for $295 million, which if sold will break the record for the most expensive home in America. It is currently the highest-priced home listing in the nation, according to Dawn McKenna of Coldwell Banker Realty, who is marketing the property along with realtors from Corcoran Group and Savills.
The estate is the main and most luxurious property on a 60-acre compound in the neighborhood of Port Royal. It includes three separate houses as well as a yacht basin and 1,650 feet of waterfront. The 11,500-square-foot main residence has six bedrooms and a screened-in pool, a 5,500-square-foot second home with five bedrooms and an outdoor pool, and a 5,800-square-foot home with an outdoor pool and a dock for six boats.
About half of the current property was initially purchased in 1985 for $1 million by John Donahue, a West Point grad and financier from Pittsburgh. According to interviewed family members, Donahue was flying with his wife Rhodora above the Naples area and pointed out the strip of land called Gordon Pointe, saying, “I want to go there.” And he did. He bought what was just a simple peninsula with a small fisherman’s shack and over time turned it into a residential complex to rival any other on the east or west coasts.
The Donahues raised 13 children and 84 grandchildren on what became a sprawling beachfront compound spanning about 60 acres. Donahue made his fortune by co-founding the investment management firm Federated Investors (now called Federated Hermes), which is currently being led by J. Christopher Donahue, his son. The firm manages about $670 billion in assets.
As of February 2024, the priciest home purchase on record is the $240 million penthouse on Billionaire’s Row in New York City, bought by Citadel CEO Ken Griffin in 2019.
In 2022, someone attempted to sell the “Casa Encantada” estate in Los Angeles for $250 million, but it has since been marked down to $195 million. Similarly, a Billionaire’s Row penthouse was listed for $250 million and had to be reduced to $195 million.
Shane Devine is a writer covering politics, economics, and culture for Valuetainment. Follow Shane on X (Twitter).