Even after a price cut this week, a custom-built home with imported Italian marble and frontage along the Caloosahatchee River remains the most expensive listing in Fort Myers, Florida.
The five-bedroom residence at 11380 Longwater Chase Court sits on half an acre in the Gulf Harbour Yacht and Country Club, the listing on Homes.com shows. The home has direct Gulf access and a private beach stretching across three neighboring lots.
The owners originally listed the 4,816-square-foot property for $12.99 million fully furnished in May but lowered the price to $11.5 million this week. In addition, they're now throwing in a sports membership to the country club valued at $20,000.
A handful of other homes in Lee County, Florida, are asking at least $12 million, but no listings in or just outside of Fort Myers city limits match or exceed $11.5 million, according to Homes.com and Longwater Chase co-listing agent Olesya Marta of Douglas Elliman Real Estate.
"In all of Southwest Florida, we never came across another property quite like it,” the owners said in a statement through Douglas Elliman. BG Orange Court, represented by Brett Glass, owns the property, public records show.
Thomas Edison and Henry Ford both owned winter residences in Fort Myers, a city now with nearly 100,000 residents, according to the latest figures from the U.S. Census. It's about 130 miles south of Tampa.
But severe weather has affected Lee County and the broader southwest Florida area in recent years. The region has dealt with four hurricanes since 2022 — including Category 5 Ian that made landfall near Fort Myers — leading to declining home prices and concerns about living in such a storm-prone area.
Fort Myers' population has grown considerably since 2020, but the pace has slowed in the past year, explained Michelle Rumore, senior director of market analytics for Homes.com and CoStar. Future growth is expected to fall below pre-pandemic levels, she noted.
"The continued slowdown in population growth could put pressure on Fort Myers' luxury housing market," Rumore said.
The Longwater Chase sellers, who previously owned a penthouse in the same country club, selected Frank R. Jenkins Custom Homes to build the estate. Features include: Calacatta Macchia Vecchia marble; wide-plank white oak floors; a 12-foot custom vapor fireplace; a built-in bar with back-lit gemstone; and access to a deepwater marina that can accommodate boats up to 97 feet long.
The outdoor space includes a 1,400-square-foot covered lanai and a saltwater pool and spa, according to the listing. Monthly homeowner association dues are $196, while 2024 annual taxes totaled more than $28,500.
Many luxury homebuyers pay cash. Still, a full-price buyer who puts down 20% and gets a 30-year, fixed-rate mortgage at 6.77% would shell out nearly $60,000 a month in principal and interest, according to Homes.com data.
Marta shares the listing with Elise and Tom Starr of John R. Wood Christie’s International Real Estate. Marta told Homes.com that the owners finished the single-story residence in 2023 but are selling it now to be closer to family.
"They cooked a lot; they entertained a lot," she said. "It's a true family home."