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From Modest Beginnings to Luxury Estate: The $295 Million Donahue Property
From Modest Beginnings to Luxury Estate: The $295 Million Donahue Property 1600 1199 Ines

The Donahue property in Naples, Florida, stands as a testament to transformation and luxury, now hitting the market for a record-setting $295 million. This remarkable estate, which began as a modest fisherman’s cottage on a 1.7-hectare coastal plot, was purchased by John Donahue and his wife in 1985 for $1 million. Enamored with the land during an aerial tour of the peninsula, the couple gradually acquired additional adjacent properties over the years.

Originally intended as a retreat for their expansive family, comprising 13 children, 84 grandchildren, and 175 great-grandchildren, the estate has grown into a magnificent compound. The main section of the property now includes three houses, a private boating basin, and extends over 3.6 hectares.

If sold at the asking price, this property will surpass the current record for the most expensive home sold in the United States, set by financier Ken Griffin’s $240 million penthouse purchase in Manhattan’s Billionaire’s Row.

The Donahue estate joins an elite group of nine-figure properties recently listed, all vying to break Griffin’s record. For instance, a Central Park Tower penthouse was listed at $250 million in 2022, later reduced to $195 million. Similarly, financier Gary Winnick’s Los Angeles mansion, Casa Encantada, initially listed at $250 million in June 2023, also saw its price drop to $195 million.

Representatives from the Dawn McKenna Group of Coldwell Banker Realty, the Leighton Candler Team of Corcoran, and Rory McMullen of Savills justify the Donahue property’s price with its vast size, prime location, and unique boating basin. According to Redfin, the average home price in Naples is $800,000, while properties in the exclusive Port Royal neighborhood, where the Donahue estate is located, average $9.1 million. The estate boasts 283 meters of waterfront on Gordon Pass and Naples Bay, along with 222 meters on the Gulf of Mexico.

Bill Donahue, John and Rhodora’s son, shared with the Wall Street Journal: “We have all loved spending time at this property, but it’s more or less time to move on.”

The Donahue property not only epitomizes luxury and family legacy but also marks a significant moment in the high-stakes world of real estate. If sold at the listed price, it will establish a new benchmark for luxury estates in the United States.

#RealEstate #LuxuryHomes #FloridaRealEstate #RecordSale #Investment #PropertyMarket #NaplesFL #PortRoyal #LuxuryLiving #FamilyEstate

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Navigating Residential REIT Investments: Stability, Growth, and Considerations”
Navigating Residential REIT Investments: Stability, Growth, and Considerations” 880 586 Ines

Residential Real Estate Investment Trusts (REITs) stand out as steadfast investment options for those seeking long-term stability and steady income. Choosing wisely among these REITs involves identifying properties with growth potential in robust real estate markets.

Understanding Residential REITs
Among the diverse array of Real Estate Investment Trusts (REITs), residential REITs rank as one of the most favored. Their appeal lies in their familiarity and the fundamental need they serve: housing. Operating on gross leases, residential REITs acquire and hold properties, leasing them to tenants. This model often involves periodic property sales to upgrade existing holdings or acquire similar assets, all aimed at enhancing investment returns.

Residential REITs encompass a wide spectrum of rental properties, from single-family homes to multifamily complexes, making real estate investment accessible to a broader investor base by pooling resources for properties that might be otherwise unattainable individually.

Advantages of Investing in Residential REITs
1. Recession-Resilience: Residential REITs typically weather economic downturns well due to the perpetual demand for housing, making them relatively resilient compared to other asset classes.
2. Growing Demand: With a rising population and an increasing preference for renting, residential REITs benefit from a growing pool of potential renters, translating into consistent income streams.
3. Homeownership Challenges: Persistent inventory shortages and escalating home prices have made homeownership elusive for many, driving them towards long-term rental solutions, further bolstering demand for residential REIT properties.

Risks of Residential REIT Investments
1. Market Volatility: Fluctuations in local housing markets can impact the performance of residential REITs, necessitating careful consideration of market dynamics.
2. Debt Burden: Overleveraging poses a significant risk, potentially destabilizing residential REITs, emphasizing the importance of prudent debt management.
3. Oversupply Concerns: Excessive investment in specific markets can lead to oversupply, jeopardizing occupancy rates and rental income.
4. Interest Rate Impact: Rising interest rates can increase the cost of debt for residential REITs, potentially affecting property valuations and rental yields.

Top Residential REIT Picks for 2024
When considering residential REIT investments, thorough market analysis and risk assessment are paramount. Among the top residential REITs for 2024, companies demonstrating robust market understanding and resilience to potential challenges stand out as prime choices for long-term investors.

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Florida Dominates Top 10 U.S. Cities List for Short-Term Rental Investments
Florida Dominates Top 10 U.S. Cities List for Short-Term Rental Investments 2560 2229 Ines

Based on a recent study conducted by Clever Real Estate in collaboration with Rabbu.com, Florida emerges as the hotspot for short-term rental investments in the United States. Topping the list is Tampa, followed closely by Orlando and Jacksonville, solidifying the Sunshine State’s dominance in this lucrative market.

The study, which analyzed various metrics including median home prices, occupancy rates, and changes in property values, highlights Tampa’s exceptional performance with a remarkable 71.6% increase in property values over the past five years. With triple the median number of property listings and a robust Airbnb occupancy rate, Tampa boasts an average annual Airbnb revenue of $52,705.

Here are the top 10 U.S. cities for short-term rental investments:

  1. Tampa, FL
  2. Orlando, FL
  3. Jacksonville, FL
  4. Boston, MA
  5. Miami, FL
  6. Buffalo, NY
  7. Columbus, OH
  8. Chicago, IL
  9. Providence, RI
  10. Kansas City, MO

Conversely, San Jose, California, emerges as the riskiest short-term rental market, with exorbitant median home sale prices and significantly fewer listed properties compared to the median. With just 1,296 listed properties, San Jose presents the lowest return on investment score in the nation.

The 10 worst short-term rental markets in the U.S. include:

  1. San Jose, CA
  2. Birmingham, AL
  3. San Antonio, TX
  4. Houston, TX
  5. Sacramento, CA
  6. Raleigh, NC
  7. Riverside, CA
  8. San Francisco, CA
  9. Oklahoma City, OK
  10. Pittsburgh, PA

Despite the allure of short-term rentals, a survey of 1,000 Americans conducted by Clever reveals concerns regarding misleading property descriptions, lack of on-site assistance, and safety issues. While 76% view Airbnbs positively and perceive them as more comfortable than hotels, only 44% consider them safer, reflecting growing apprehension amidst rising crime rates.

Emir Dukic, founder of Rabbu, notes the sustained interest in short-term rental investments, emphasizing that while returns may be slightly lower than in previous years, prime properties in top markets consistently yield double-digit returns.

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Unlocking Real Estate Investment Potential: 3 Cities to Watch for Future Growth
Unlocking Real Estate Investment Potential: 3 Cities to Watch for Future Growth 2500 1330 Ines

The landscape of real estate investment is constantly evolving, presenting savvy investors with new opportunities for growth. Renowned real estate expert Barbara Corcoran recently shared insights on cities that she believes hold immense potential for increased home values in the near future. Here’s a closer look at these promising locations:

  1. Pittsburgh, Pennsylvania: With an average home value of $227,329, Pittsburgh stands out as a city ripe for investment. Historically known for its steel industry, Pittsburgh has diversified its economy, attracting industries like advanced manufacturing and climate technology. Coupled with a significant presence of colleges and universities, the city’s young and educated population sets the stage for continued growth.

  2. Columbus, Ohio: Columbus boasts an average home value of $243,838 and a vibrant business ecosystem. Home to major corporations such as JPMorgan Chase and Nationwide, the city offers a favorable climate for economic prosperity. With homes selling rapidly, Columbus presents an attractive opportunity for investors seeking high-demand markets.

  3. Indianapolis: Indianapolis, with an average home value of $224,099, emerges as another promising investment destination. The city’s diverse economy, driven by sectors like healthcare and finance, ensures stability and growth potential. Additionally, its status as a sports tourism hub, hosting renowned events like the Indianapolis 500, adds to its allure for investors.

As the real estate landscape continues to evolve, these cities represent key areas to monitor for investment opportunities. By staying informed and strategically positioning themselves in these markets, investors can unlock significant potential for future returns.

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