A newly built waterfront home in Naples, Florida, traded last week for $35 million, the third-largest home sale in the tony town this year.
Dutch art collectors Rose-Marie and Eijk van Otterloo owned the property at 3373 Rum Row in the exclusive Port Royal development, public records show. The sellers hired London Bay Homes to build the estate and intended to live there once it was completed a few months ago before deciding to transition instead into another retirement property, according to the buyer's agent, Marc Fitzgerald, of Premier Sotheby's International Realty.
The buyers were drawn to their home largely because of its 130 feet of water frontage, said Fitzgerald, who declined to identify his clients.
"Those types of homes are hard to come by," Fitzgerald told Homes.com. "There are plenty out there, but they're never for sale."
The sellers' agent, Toby Cloutier of London Bay Realty, did not immediately return a phone call for comment.
Wine festival draws Naples crowds
The only other Naples homes with higher selling prices this year were 2340 Gordon Drive that traded for $46.9 million in April and 3035 Fort Charles Drive that went for $43.1 million in January, Homes.com data shows.
The coastal city in Collier County, about 110 miles due west of Fort Lauderdale and 160 miles south of Tampa, Florida, attracts well-to-do baby boomers interested in golf, white-sand beaches and luxury shopping.
Two of the most popular events in the city are the Naples Winter Wine Festival and Cars on 5th, both of which take place in February during the high tourist season.
The median sale price in Naples in October was $595,000, down 5.4% from October 2024, according to Homes.com.
"While pricing for the overall Naples market has seen some softening over the course of 2025, the luxury market continues to outperform the overall region with over 2,400 homes sold for north of $1 million over the past six months in Collier County," said Michelle Rumore, a senior director of market analytics for Homes.com.
The 8,377-square-foot Rum Row home has six bedrooms, seven full bathrooms and three half-baths. Amenities include a pool and spa, covered terraces, a summer kitchen, a private dock and direct gulf access, according to the listing. Stofft Cooney Architects and Romanza Interior Design collaborated on design.
The new owners are eligible to become members of a new Port Royal beach dining and social club that has an initiation fee of $315,000 that will increase to $400,000 on Jan. 1, Fitzgerald said. The annual fee is $16,500.
The agent has two other listings in Port Royal: 3277 and 3295 Gordon Drive. Griffin Builders built the fully furnished spec homes that were designed by MHK Architecture.
Neither of those listings is on the water, but the eventual buyers are eligible to become club members, according to Fitzgerald. Port Royal owners aren't required to join the club, "but you'd be a fool not to," Fitzgerald said.
That's because an owner who opts out would have to pay 175% of the initiation fee to reinstate the house's membership, the agent said.