An unidentified buyer has assembled nearly 19 waterfront acres along Gordon Drive in Naples, Florida, in transactions totaling a reported $311 million. The purchases were made through a land trust under strict nondisclosure agreements, raising questions about what may replace the existing properties. The buyer’s identity and plans have not been made public.
Key takeaways
The purchase combines two neighboring Port Royal properties in one of the country’s priciest residential markets. Demolition-permit applications have added to speculation, but there is no confirmed public plan for the site.
- The reported total is $311 million for roughly 18.7 acres.
- The properties were acquired in two deals: $225 million and $86 million.
- Brokers say the buyer did not visit the land before purchasing it.
- The ownership structure and any future development plans remain undisclosed.
How the deal came together
The first transaction involved about 15 acres owned by Canada’s DeGroote family, which sold for $225 million in 2025, according to reporting by the Wall Street Journal. A neighboring 3.7-acre property belonging to the Stayer family was later purchased for $86 million. Together, the parcels form a large waterfront holding on Gordon Drive in Naples’ Port Royal neighborhood.
The buyer or buyers used a land trust, and people involved in the transactions were subject to strict nondisclosure agreements. Brokers told the Journal that the purchaser never walked the properties before completing the deals, an unusual detail in a high-profile land acquisition.
Why the purchase is drawing attention
The new owner has applied for demolition permits for the properties, according to reports, prompting speculation that a major project could be in the works. But the permit applications do not, by themselves, establish what will be built or whether the land will become one compound. One local real estate agent said the activity suggests that “something is coming” to the area, while acknowledging that the plan is unknown.
The combined price places the acquisition among the country’s most expensive private residential property holdings, in the company of high-profile estates associated with billionaires in Palm Beach and Indian Creek Island. The transaction also highlights Naples’ growing appeal to ultrawealthy buyers seeking large waterfront sites.
Naples’ luxury market is changing
Gordon Drive has recorded more than $1 billion in property sales since 2020, according to the report, as demand and prices have climbed. Another prominent Naples estate, Gordon Pointe, is currently asking $271 million. Realtor.com ranks the Naples area fourth among the nation’s most expensive metro markets for luxury homes.
For now, the $311 million purchase has added a major new mystery to that boom: who controls the land, and whether the properties will be replaced by a private residence or something else. Neither the buyer’s identity nor a development plan has been disclosed.