Luxury Development Project Designed by MHK Architecture
A rare, fully-entitled, development site in Naples presents an opportunity for luxury developers to acquire a premier waterfront property—offered via auction
NAPLES, FL, UNITED STATES, February 12, 2025 /EINPresswire.com/ — The Naples luxury real estate market continues to see high demand, with several notable developments reshaping the city’s high-end residential landscape. A fully entitled, shovel-ready development site in Old Naples is now available via an upcoming online auction, offering potential investors and developers a rare opportunity to secure waterfront property with approved plans.
The one-acre site, located across from Lowdermilk Park, includes fully approved architectural plans by MHK Architecture for four luxury condominiums, each approximately 4,595 square feet. The development is designed to align with the growing demand for boutique, high-end residences featuring Gulf views and private boat slips.
A Rare Opportunity in Naples’ Luxury Real Estate Market
Recent property sales highlight the sustained growth of Naples’ ultra-luxury segment:
– 0.35-acre parcel recently sold for $8 million ($22.8M per acre).
– 1.51-acre site closed at $29.9 million ($19.8M per acre).
– 3.07-acre property sold for $92.5 million ($30M per acre).
“This is truly a one-of-a-kind property,” said Andrew Christopher with William Raveis Real Estate. “With a view easement ensuring uninterrupted ocean views in perpetuity, private boat slips with direct Gulf access, and a prime downtown location near Naples’ world-class dining and shopping, opportunities like this simply don’t come around often. The previous building, originally constructed in the 1960s, was lost to Hurricane Ian, making this a once-in-a-generation chance to develop a trophy property in one of Naples’ most sought-after waterfront locations.”
Naples’ Expanding Luxury Development Landscape
Several high-profile projects underscore the region’s booming luxury market:
– The Residences at Naples Beach by Four Seasons – Under construction, with units listed up to $50 million.
– Aura at Metropolitan Naples – A high-rise featuring resort-style amenities, with prices ranging from $2M to $7M.
– The Avenue – A mixed-use development offering luxury residences, retail, and dining, with home prices ranging from $3M to $8M.
With limited waterfront land available, Naples continues to attract developers and investors looking to capitalize on high-end real estate opportunities.
Auction Process Creates a Competitive Bidding Environment
Recognizing the distinctive nature of this property, the seller has engaged FRE Auctions to conduct an online auction, ensuring that market demand determines the final price.
“Our client chose the auction route because pricing a property like this through traditional methods is extremely difficult,” said Bill Lange, CEO at FRE Auctions. “It’s similar to how Sotheby’s or Christie’s approach fine art—when something is truly rare, the best way to determine value is through a competitive bidding process. This auction allows buyers to participate on an even playing field and determine what this exceptional property is truly worth.”
Online Auction Details
The development site will be available for bidding through an Online Auction Plus format, allowing prospective buyers to submit offers with contingencies. The starting bid is set at $13,999,950.
For further details, due diligence materials, and auction participation information, visit FRE.com/498R4.
Alisha Lange
FRE Auctions
+1 949-706-6129
alange@fre.com
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