In a historic real estate deal that has captured national attention, a luxurious waterfront estate in Naples, Florida has sold for a staggering $225 million. The transaction marks the second-highest priced home sale ever recorded in the United States and now stands as the most expensive residential sale in Florida’s history. The property, located in the exclusive Port Royal neighborhood, was owned by the billionaire DeGroote family and sold to an undisclosed buyer through a land trust.
The 15-acre compound, situated at 2170, 2200, and 2340 Gordon Drive, was originally listed in 2023 for $295 million. The estate includes over 800 feet of pristine Gulf of Mexico frontage, making it one of the largest and most desirable parcels in the area. The sale closed on a Friday, according to public records, and was first reported by The Wall Street Journal.
Michael McCumber of Gulf Coast International Properties represented the seller, while attorney Kevin Coleman acted on behalf of the trust that acquired the property. The identity of the buyer remains private, consistent with a growing trend among ultra-high-net-worth individuals who prefer to make acquisitions through anonymous legal entities.
The estate’s sheer scale and location distinguish it from nearly all other residential offerings in the country. The property’s footprint is unprecedented for beachfront Naples real estate and offers unmatched privacy, panoramic water views, and access to one of the Gulf Coast’s most affluent enclaves. Port Royal, known for its luxury estates and exclusivity, has long been a favored destination for global elites seeking both seclusion and proximity to world-class amenities.
The compound reportedly includes multiple mansions, expansive lawns, mature landscaping, and gated entrances, although detailed interior descriptions remain private. Any future plans for redevelopment or subdivision have not been disclosed, but the site presents a rare opportunity for either a single megamansion or a collection of ultra-luxury residences.
The DeGroote family’s involvement in the property dates back several years. Michael DeGroote, the family patriarch, was a Canadian-born businessman and philanthropist with a track record of success across multiple industries including trucking, waste management, and financial services. Though he spent much of his later life in Bermuda, the Naples estate was a significant part of his real estate portfolio. DeGroote passed away in 2022, and his legacy lives on through both his philanthropic work and the high-profile assets he amassed.
This record-breaking sale is second only to hedge fund billionaire Ken Griffin’s $238 million purchase of a penthouse at 220 Central Park South in New York City, finalized in 2019. In Florida, the sale eclipses Larry Ellison’s $173 million estate acquisition in Manalapan, which had previously held the state record.
Industry experts view this Naples transaction as a reflection of Florida’s rapidly evolving ultra-luxury market. The state’s favorable tax climate, high quality of life, and increasingly global buyer pool have made it one of the most sought-after destinations for real estate investment in recent years. As affluent buyers continue to seek out trophy properties with water access, privacy, and long-term value, deals of this scale may become more common, particularly in exclusive areas like Naples, Palm Beach, and Fisher Island.
Though the market has faced headwinds in other parts of the country due to rising interest rates and economic uncertainty, the very top tier of the residential market remains resilient. The $225 million Naples estate sale underscores this trend and signals continued strength in the luxury segment, where all-cash buyers and legacy investors continue to drive activity.
For now, the record-setting estate on Gordon Drive will remain shrouded in mystery, but its legacy in American real estate history is secure. As one of the largest and most expensive residential transactions ever, it represents not only a milestone for Florida but a defining moment for the national luxury real estate market.