Realty Check: What Your Money Will Buy
... for $9.75 million, $4.15 million and $1.77 million
If you’re looking for a barometer on the high-end home market, Michele Peppe suggests you look no further than the 7,195-square-footer at 639 Gulf Shore Blvd. N. in Naples that sold to a seasonal resident in mid-October for a cool $9.75 million in cash.
“The luxury real estate market in Naples is definitely back,” says Peppe, a property specialist with Coldwell Banker Previews International.
Built in 2000, the three-story beachfront home sits on just less than half an acre and includes an executive-caliber study, a sound-proofed theater and media room, a formal dining room with built-in wine chillers, five bedroom suites and unobstructed views of the Gulf of Mexico.
Still need a deal-clincher?
Throw in the nine bathrooms (seven full, two half), a two-car garage and a park-like pool setting with beachfront access.
Peppe says the buyer, an executive with a Fortune 500 company, found the listing on her company’s website—naplesrealestate.com. The sale follows her previous 2013 deals for a $7.6 million home on Gordon Drive and a $3.7 million home on Gulf Shore Drive.
For prospective owners seeking a recently built home close to the beach, a 6,000-square-foot beauty at 108 Dominica Lane in Bonita Springs fit the bill and sold in August for $4.15 million.
The four-story furnished model by Windover Development provided beachfront location, a gateway to the 342-acre Barefoot Beach Preserve, unobstructed views of the Gulf of Mexico, architecture by Kukk Architecture & Design, and interior design by Collins and DuPont.
“They love the casual elegance,” says Carl Dittrich, a broker with Barefoot Beach Properties. “(It’s) a unique beachfront single-family-home neighborhood located on a barrier island nestled between Little Hickory Bay and the Gulf of Mexico at the northern end of Collier County.”
Dittrich says the owners looked for two months before settling on the 1-year-old home, which has four bedrooms, a den/office and five bathrooms. The open living area includes muted grays, blues and whites to enhance the flavor of the seashore. Additionally, multiple balconies and windows were included to take full advantage of the lot’s greatest attributes.
“We tried to rotate the entry so the house presents itself from the street, while also giving the home a sense of privacy, all without sacrificing the priceless Gulf of Mexico views,” says Jon Kukk, principal at Kukk Architecture & Design.
Sometimes, telecommuting makes a transaction possible.
That was certainly the case for the 5,200-squarefoot home at 5352 Barefoot Bay Court in Bonita Springs, which sold for $1.77 million in mid-August to a Minnesota couple who were able to make the move south because of one spouse’s ability to transfer her job easily.
“They’re both 50-ish, and, like so many younger people, their business is one that the Internet allows working from anywhere,” says selling agent Doug Grant of Coldwell Banker Residential. “They could go wherever they wanted, and they wanted to be down here near family. That was the driving force.”
The home provides significant bang for the buck, according to Grant, who says the buyers were able to get it for “60 to 70 percent” of what it would have sold for in a peak market. It’s a half block from the beach and has a nice view of the Gulf of Mexico from the top floor and an elevated pool.
Inside, the home features five bedrooms and five and a half bathrooms, coffered ceilings, and marble and wood floorings. There’s also an outdoor kitchen, a rooftop sundeck, and a boat lift and dock.
“It’s quite a find for less than $2 million,” Grant says. “They took advantage of the pricing while it was still out there.”
Mediterra is a 1,700-acre master-planned community on Livingston Road in Naples, two miles north of Immokalee Road and west of I-75. It was a 2013 Aurora Award winner for best residential development within the southeastern United States and is an eight-time winner of the Collier County Building Industry Association’s Sand Dollar Award for community of the year. Available home designs include single-family estate homes and single-family maintenance free villas from the $700,000s to more than $7 million.
Total MLS sales Nov. 2011 to Oct. 2012: 53
Average Price: $1.31 million
Total MLS sales Nov. 2012 to Oct. 2013: 57
Average Price: $1.36 million
On the Market: The 4,402-square-foot Capriano luxury villa home (shown here) has four bedrooms and four bathrooms and features a tropical transitional interior by Romanza Interior Design. A great room-focused floor plan has an optional second-floor media room, library and wine room. An outdoor living room with summer kitchen and sundeck and a two-car garage expand the home to 5,974 square feet. The fully furnished home is available for $2.106 million.
Recent Sale: The Isabella II features 4,444 square feet of interior living space and outdoor areas and offers three bedrooms and three baths overlooking a large lake. Custom furnishings and finishes by Romanza Interior Design accent a formal dining room, great room and den, complemented by a pool, spa, covered entry and outdoor living areas, plus a three-car, two-door garage. It recently sold for $1.79 million.
The Greening of Naples
Next time you think there’s pressure keeping up with your neighbors, consider William Bullock.
The vice president of Minto Communities, which will open a 2,400-acre eco-friendly community—The Isles of Collier Preserve—this month, knew what his company was in for when it moved in alongside the Rookery Bay National Estuarine Research Reserve, the Naples Botanical Garden and Naples Bay.
More than half of the new development’s property is dedicated to natural habitat and nature preserve. Preservation areas will be connected by a network of recreational trails, bike paths and blueways for kayaking. And to keep with the old-school nature theme, there’s no golf course.
“Minto is fully committed to being good stewards of this stunning and important land, its waters and wildlife,” Bullock says. “We are honored to be part of the enduring legacy of this historic and spectacularly beautiful property. Every aspect of The Isles of Collier Preserve has been meticulously planned by Minto to create a sustainable community that embraces nature and an active lifestyle, and reflects, respects and protects the magnificent lands that surround it.”
Approximately 1,600 residences are planned for the community, whose entrance is off Tamiami Trail and Thomasson Drive, four miles from downtown Naples. Seven single-family and coach home models will open this month. The property’s 7,730-square-foot Discovery Sales Center has sweeping windows that look out onto the community’s Cypress Waterway.
Its “Neighbors Room” has a 360-degree photo mural of a cypress wetland surrounding a circular boardwalk with a 14-foot cypress tree sculpture at its center.
“The proximity of existing preserves on the adjacent properties of our neighbors was given significant consideration in our planning to assure the protection of habitat and listed species,” Bullock says, “and we will continue to work closely with them.