Naples actual property enterprise brings in $ 36 million on the seaside

So the house didn’t go for the $ 58 million that the trust of a former Westinghouse Electric manager originally listed in Naples seven years ago.

According to Matt Simmons, principal at real estate appraisal firm Maxwell, Hendry & Simmons, the $ 36 million purchase of a golf front mansion in Port Royal last week remains the most expensive in about three years in Tucson.

The 18,172-square-foot 2750 Gordon Drive featured a five-car “collector’s” garage, 500 bottle wine room, and half a dozen bedrooms after a $ 3.5 million renovation for former President Robert A. Watson and Chief Executive Officer of Westinghouse and TransAmerica units.

The palace with the name “La Campana”, built in 1999, with marble floors and a fireplace in the Italian Renaissance style, comprised a playroom on the beach, his and her study, a two-story rotunda, an elevator and a mahogany bar with a green marble top. With 14 full and half baths, you had the choice between several bidets and whirlpools.

Near a cabana with a full kitchen, dancing fountains surrounded an edged 1.55-acre pool overlooking the sands of the Gulf of Mexico and two doors from the exclusive Port Royal Club. Property tax bill for 2019: $ 238,058 based on a tax base of $ 23.3 million.

The price has fallen over the years, $ 51.9 million in August 2017 and $ 42.5 million in December 2018. Zillow estimates its current value at $ 18.6 million.

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The Randal D. Bellestri Living Trust had unloaded it for $ 27.3 million in December 2011 to serve as Watson’s castle. When the Watson Trust first launched the palazzo three years later, the most expensive sale in Naples to date was also a Bellestri acquisition for $ 47.25 million on 3100 Gordon Drive in 2012.

In September 2014, Bellestri was sentenced to one year in prison and fined $ 500,000 for filing false tax returns and conspiracy to file false tax returns.

The Bellestri home was listed at $ 39.9 million, and Simmons said he signed an agreed deal in early January.

2750 Gordon Drive was ranked tenth on a list of Top 10 Most Expensive Residential Properties in Florida for $ 58 million.

With the brand new purchase of the Watson residence towards the end of the week, the public records were incomplete and the agents were unavailable to fill in some of the gaps such as the buyer’s name. However, my colleagues and I plan to check again and again.

This is the most expensive since 2500, which Gordon sold in June 2018 at $ 48 million for the highest price ever. It has since been demolished, and Simmons said four sales were made in Tucson between $ 22 million and $ 28 million.

“It can be very difficult to sell a property like this,” he said. “The pool of buyers is very small and the marketing effort must be surgical. With a house at average price, you can cast a wide net into the exposure of the house because it is in the middle of the pool of buyers. Unique properties, in general, take a lot Skill in marketing, but properties like this are on a completely different level. They are much more personal, relational, and purposeful. It’s not easy to navigate transactions like this, but Tucson has a number of great features to offer professional agents who Elite at what they do and know how to handle transactions like this. “

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Not many people can afford the newly sold pad, and it would even be “still a reach” if you had the $ 1 billion winning Mega Millions ticket about a week ago, Simmons said.

If you were to take the Simmons’ recommended flat rate, it would likely be near $ 461 million in this state.

“For a Florida winner who pays the lump sum, buying something for $ 36 million, assuming they have no other net worth, would be about 8% of your net worth,” said Simmons. “For most Americans, their home equity is typically 15% to 30% of their net worth. For the ultra-wealthy category, speaking in excess of $ 200 million to $ 250 million, they typically have a home less than 5% of their net worth. Having a $ 461 million worth of 8% of it in a residence is not okay for the way most ultra-rich people allocate their funds. Of course, it doesn’t always. But it is typical ratio.

If you go for the annuity and that still means paying the taxes up front, then it will likely be three years before you will likely have enough to cover the total cost of the dig, as long as you don’t spend that money on anything else the way. Like that sudden urge for a Lamborghini Sian FKP 37. Retail: $ 3.6 million, second most expensive in 2021, but US News & World Report notes it’s the company’s first hybrid.

The most expensive property on the market right now is another case of “Keeping Up With the Gordons” instead of the Joneses. It’s $ 65 million and right next door on 2700 Gordon Drive, which is listed as of November 2019.

This property was part of the newly sold Gordon Package 2750 and was previously owned by DL “Stoney” Stoneburner, a major player in Collier’s history of development, agriculture and other endeavors. Stoneburner had it in 1979 from a co-founder of Briggs and Stratton Corp. for $ 2.1 million, as I researched our archives.

Interested? The huge family property on the beach on four hectares consists of a 11,511 square meter main house, a 4,675 square meter guest apartment and a 2,303 square meter caretaker’s house.

If not, there are currently nine properties up for grabs in Naples for $ 15 million or more, Simmons said. One of them is a penthouse in Regent on Park Shore, 4104 Gulf Shore Blvd N.

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Rendering of the senior center of Naples

A senior deal

You may see construction work near Immokalee Road and I-75 soon.

Oh wait, there is always something going on. But this one is not commercial.

The Naples Senior Center, a nonprofit that provides programs and social services for the elderly, has purchased 13.7 acres for its new home on Autumn Oaks Lane south of Immokalee Road, according to spokesman Clay Cone.

The $ 2.75 million deal was closed in the past few days. Plans for the 30,000-square-foot facility have been pushed back a little by a few nearby residents, and my colleague Laura Layden has plans for a follow-up.

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Naples Starbucks on Central Avenue and US 41 should be closed on Sunday, January 31, 2021.

Pour the last cup of coffee

You always used to hear about a Starbucks opening.

How about those who go

Penny Taylor, Collier County Commissioner

Collier County commissioner Penny Taylor said she would miss the “good neighbor” on Central Avenue and US 41, which was due to be jailed last weekend.

In the Know's new columnist, Phil Fernandez.  The photo was taken in the Naples Daily News studio on Thursday September 12th, 2019.

“They close their doors forever,” said Taylor. “It was tough enough for this old friend when the Central Avenue beautification removed a left turn from Central Avenue into their store, but the inconvenience of lack of drive-thru access forced the decision to close.”

Columnist Phil Fernandez ([email protected]), who works on the Naples Daily News, writes In the Know as part of the USA TODAY NETWORK. Support democracy and subscribe to a newspaper.

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