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

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.

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