- A compound in Naples, Florida, is on the market for a potentially record-setting $295 million.
- The late financier John Donahue spent $1 million for land on the Gulf of Mexico in 1985, then added to it.
- His family is ready to let go of three mansions on 9 beachfront acres — take a look around.
A family compound in Naples, Florida, just hit the market for $295 million.
If it sells for even close to that amount, it would be the most expensive residential sale in the US.
The family of the late investing magnate John Donahue is selling three waterfront houses on nearly 9 acres that come with a private 231-foot basin for yachts.
The compound in the now posh Naples neighborhood of Port Royal had relatively humble origins. Donahue purchased a 4.3-acre parcel of land on the Gulf of Mexico for $1 million in 1985, The Wall Street Journal first reported.
Since then, he and his family accumulated about 60 acres, the Journal reported.
In 1955, Donahue cofounded an investment firm now named Federated Hermes, which manages $668.9 billion in assets.
The Pittsburgh native and his wife, Rhodora, split their time between Pennsylvania and Florida before moving to Naples full time around 1990, his son, Bill Donahue, told the Journal.
The couple’s Florida estate became a family retreat for their 13 children, 84 grandchildren, and more than 175 great-grandchildren.
The Donahues told the Journal they would like to sell the property as a compound instead of splitting it up.
The current record for the most expensive residential sale in the US was set in 2019 when the hedge-fund CEO Ken Griffin spent $240 million on an apartment bordering Central Park in New York City.
Dawn McKenna of Coldwell Banker Realty has the listing, alongside Leighton Candler of the Corcoran Group and Rory McMullen of Savills.
Take a look at the property for sale.
