The most expensive house in America recently hit the market for a staggering $295 million, prompting the question: Can this oceanfront abode really fetch that astronomical ask?

The pricey property captured attention on the web, where it made the Realtor.com® most popular homes list and landed atop its list of most expensive homes of the week.

Set in Naples, FL, the attention-grabbing, 9-acre property known as Gordon Pointe made waves when The Wall Street Journal broke the story of the offering. The place was reportedly amassed by the late financier, John Donahue.

Donahue and his wife, Rhodora Donahue, are said to have purchased the property in 1985 for just $1 million. Over the years, they kept acquiring land in the Port Royal neighborhood, where they built three homes and created the ultimate family compound. And now, after their deaths, their family has decided to list the compound.

The rare real estate stands alone.

“You can’t compare it just to Naples, because it has 700 feet of beach frontage; and you can build up to six homes,” says listing agent Dawn McKenna, of Coldwell Banker Realty. “It’s the only place where you can go to live, in theory, like an island but be connected to Port Royal and be in town in two minutes. It has privacy, rarity, and connection.”

And along with its oceanfront proximity, the posh spread has 927 feet of bay frontage, too.

‘One-of-a-kind opportunity’

The 9-acre lot also comes with a private, 231-foot yacht basin.

“It could be used as a family compound, where you park your yacht in the back, and there are several homes for the family,” McKenna says. “It is really a one-of-a-kind opportunity. It would be almost near impossible to assemble a land package like this ever again.”

Despite the home’s southwestern Florida location overlooking the Gulf of Mexico, hurricanes haven’t really been an issue, McKenna notes.

“During the biggest hurricane, these properties sustained little damage because of the elevation,” she says. “That is a big highlight. The sellers have used it as a family compound and are hoping to pass the baton to someone who wants a trophy property for generations to come.”

Priced right?

While McKenna seems confident the property is priced right, the listing has others raising their eyebrows.

“It’s certainly a very aspirational price,” says Florida licensed broker Cara Ameer, of Coldwell Banker Vanguard Realty. “It is on about 9 acres, so it’s almost on its own island. This buyer is insulated from market fluctuations and will certainly be looking for a compound.”

Meanwhile, Ameer notes that “this is not a ‘have-to-sell’ seller,” which means they could hold out for their desired price. Also, the location could be present a challenge, she points out.

“For buyers, it’s in a low lying area, so there are concerns with insurance and storm proofing, sitting out there exposed,” Ameer observes. “That has to play into potential buyers’ minds.”

She adds that if the place sells for near the owners’ asking price, it is going to set a record for Naples.

‘Special buyer’

Jenny Lenz, managing director of Dolly Lenz Real Estate, agrees that the massive price might be a reach. She says the place needs some work and believes it’s probably a teardown.

“It’s going to need a big family and also going to have to have a special buyer who is a billionaire,” Lenz says. “The Naples market has been doing phenomenally since Covid. We wouldn’t have priced it that high, but we are just going to have to see what happens.”

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