WSJ: Inside the $311 Million Land Grab to Create One of America's Priciest Homes
"It was unprecedented", said Richard Prebish of William Raveis Real Estate, who brought potential buyers to both homes. "To see one of those as an offering is a one-in-a-lifetime opportunity for a prospective buyer, and here you had two."
Naples, Florida, is solidifying its reputation as one of America’s most exclusive luxury real estate markets following a mysterious billionaire’s $311 million acquisition of nearly 19 acres along prestigious Gordon Drive in Port Royal. The buyer quietly assembled the waterfront estate through two transactions: a $225 million purchase of the DeGroote family property in 2025, followed by an $86 million acquisition of the neighboring Stayer estate in 2026. The transaction ranks among the most extraordinary residential land acquisitions in U.S. history.
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The Wall Street Journal highlights Naples’ growing appeal among billionaires seeking privacy, waterfront estates, and an understated luxury lifestyle. More than $1 billion in real estate has traded along Gordon Drive since 2020, while the nearby Donahue family compound, Gordon Pointe, remains on the market for $271 million. Major investments, including the new Naples Beach Club, a Four Seasons Resort, and the anticipated reopening of the renovated Port Royal Club, are further fueling demand.
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Richard Prebish of William Raveis Real Estate, who introduced prospective buyers to both landmark estates, described the simultaneous availability of these properties as a once-in-a-lifetime opportunity. Prebish reported $346 million in closed and pending sales from June through mid-October 2026, more than triple his $112 million during the same period in 2025. As Prebish told The Wall Street Journal, “The excitement is palpable.”
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The record-setting transactions underscore Naples’ emergence as a premier destination for ultra-high-net-worth buyers and signal continued confidence in the future of Port Royal’s luxury waterfront market.
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Publication: The Wall Street Journal (WSJ)
Author: E.B. Solomont
Publish Date: October 28, 2026
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"It was unprecedented", said Richard Prebish of William Raveis Real Estate, who brought potential buyers to both homes. "To see one of those as an offering is a one-in-a-lifetime opportunity for a prospective buyer, and here you had two."
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For more information about Naples luxury real estate, contact Thomas Campbell & Richard Prebish.