The most expensive home for sale in the U.S. goes up for $295 million in Naples, Florida

The most expensive home for sale in the U.S. hit the market this week for $295 million.

Gordon Pointe, as it’s called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal.

The mega-listing includes a main house that spans about 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bringing the estate’s total interior living space to 22,800 square feet. All three homes are on a peninsula that delivers 1,650 feet of waterfront, a private yacht basin and T-shaped dock.

Before you start counting up bedrooms and calculating the price per square foot (which is about $12,900), co-listing agent Leighton Candler of Corcoran told CNBC the value here isn’t so much about the size of the three grand homes on the property, it’s about privacy, beach frontage and a rare opportunity for significant development.

According to a press release that launched the listing, “The property can accommodate more than 200,000 square feet of residential development,” meaning the land has a ton of untapped potential.

“There can be eight waterfront homes on this property,” Candler told CNBC. While the property could be broken apart after purchase, the New York-based broker speculates a potential buyer will more likely maintain it as a private family compound.

The nine acres are made up of contiguous lots, the first of them purchased in 1985 by John and Rhodora Donahue. John Donahue co-founded a Pittsburgh-based investment management firm, now known as Federated Hermes, with over $758 billion in assets under management, according to the firm’s website.

After that first purchase in 1985, the Donahues continued to buy up more of the peninsula and didn’t stop until they owned it all. Their buying spree created an exclusive, gated compound almost entirely surrounded by water. A single private drive means no pesky through traffic.

“It gives you all the benefits of being on an island, but on Gordon Pointe your family can be secluded without feeling isolated,” Candler said.

Along with a T-shaped dock that can accommodate six boats, the Donahues also constructed a private yacht basin that’s 231 feet by 50 feet and has a depth of almost 8 feet. Candler told CNBC it’s a rare amenity that had to be approved by the U.S. Army Corps of Engineers.

According to Realtor.com the median listing price in Port Royal is $24.1 million.

The highest-priced home, before Gordon Pointe, in the ultra luxe beachfront community hit the market in December at $45 million, or just under $4,300 per square foot. Meanwhile an empty lot of almost 1.5 acres adjacent to Gordon Pointe has been on the market for a year, at an asking price of $63 million.

“We did our best to price [Gordon Pointe] and we can defend that price all day long,” co-listing agent Dawn McKenna of Coldwell Banker Realty told CNBC.

McKenna said the listing is already drawing significant interest since it went live Wednesday and that she’s already booked eight in-person visits with prequalified buyers.

It’s no surprise to hear listing brokers argue an eye-popping price tag is justified, but true comparisons at this level and buyers with enough cash to pay that kind of money are few and far between. And, as is the case with any real estate listing, there can be a big gap between an initial asking price and what a property ultimately sells for.

For some nine-figure context, here’s a closer look at the second- and third-most-expensive listings currently for sale in America.

The first of the two listings is a penthouse that debuted in New York City in September 2022.

The residence sits high atop 217 West 57th Street, overlooking Central Park, spanning three floors and over 17,500 square feet.

Broker Ryan Serhant made headlines when he listed the mega-apartment at $250 million, which he told CNBC at the time was the appropriate price.

“I know it sounds crazy, but relatively speaking, it’s priced at a great value on a per-square-foot basis,” Serhant said in 2022. “It’s just a very, very big apartment with lots of amenities.”

But naysayers questioned the nosebleed asking price, which amounted to over $14,000 a square foot.

“I consider this a fantasy price,” Manhattan luxury broker Donna Olshan told CNBC in 2022.

The triplex residence sat on the market for 12 months with no takers. After a yearlong run at $250 million, the asking price was slashed by $55 million, or 22%. The pricey pad is still on the market for $195 million.