Photo: Dawn McKenna Group/Coldwell Banker Realty
A $295 million compound in Naples, Florida, just hit the market and is now the most expensive home for sale in the US, reports The Wall Street Journal (WSJ). The nine-acre compound belonged to financier John Donahue and his wife, Rhodora, whose children are selling the house after their parents passed away.
The expansive property has humble roots: It started as a small fishing cottage on 4.3-acres of coastal land. According to WSJ, John and Rhodora were flying above a peninsula known as Gordon Pointe when John saw—and became enamored with—a plot of undeveloped land on the coastal stretch. The couple paid $1 million for it in 1985 and slowly amassed an additional 55 surrounding acres. Here, they built a rolling private escape for their family, which eventually encompassed 13 children, 84 grandchildren, and 175 great-grandchildren.
The pièce de résistance of the compound, which is currently up for grabs, is a 9-acre estate with three homes and a private yacht basin. If it sells for its asking price, $295 million, it will set a new real estate record in the United States as the most expensive home ever sold in the country. Financier Ken Griffin’s purchase of $240 million penthouse on Billionaire’s Row in Manhattan currently holds the title.
The Donahue home is one of a handful of nine-figure listing that have hit the market over the past few years, each positioned to surpass Griffin’s record. A penthouse in Central Park Tower was listed for $250 million in 2022, but is now asking $195 million. Similarly, financier Gary Winnick and his wife, Karen Winnick, listed their home in Los Angeles, known as Casa Encantada, in June 2023 for $250 million, but have since cut that down to $195 million as well.
The listing agents for the Donahue house, Coldwell Banker Realty’s Dawn McKenna Group, The Leighton Candler Team of Corcoran, and Savills’ Rory McMullen, told WSJ that the price of the Naples compound was justified not only because of the size, location, and yacht basin, but also because it would be difficult to construct such a property again. According to Redfin, the average home price in Naples is $800,000, while, on average, homes sell for $9.1 million in Port Royal, the neighborhood where the Donahue home is located.
The most expensive home for sale in the US offers 930 feet of frontage on Gordon Pass and Naples Bay and another 730 feet on the Gulf side. Bill Donahue, the son of John and Rhodora, spoke with WSJ about the sale of the family estate saying, “We’ve all enjoyed it, but it’s more or less time to move on.”
Originally Appeared on Architectural Digest