Naples Cay Penthouse Sells at Record Price

Naples Cay Penthouse Sells at Record Price

Naples Cay, Naples Florida high-rise condominiumsNAPLES PENTHOUSE CONDO FETCHES RECORD PRICE

LAURA LAYDEN

An exclusive top floor condo in Naples Cay has sold for a record price. Spanning nearly 11,700 square feet under air and overlooking the Gulf of Mexico, the penthouse at Seasons has fetched the highest price paid for a condo in Naples — at $14.75 million, according to the listing agent.

Naples Cay, nestled between Park Shore and Pelican Bay, is within walking distance of Waterside Shops and the Artis—Naples performing arts center.

Built by Bonita Springs-based WCI Communities, the Seasons tower sits at 81 Seagate Drive, on the northern end of Gulfshore Boulevard North.

The penthouse sold Monday. Perched on the 22nd floor, it offers wide views of the Gulf and other waterways.

The residence recently got a major face lift. It was gutted and remade by Steven G., known as one of the top high-end interior design firms in the country. I

Upgrades include Italian porcelain 31-by-72-inch slabs for flooring, custom millwork and state-of-the-art lighting. Other features include Gaggenau and Sub-Zero appliances, white quartz countertops, high-end plumbing fixtures, a private elevator with a mirrored nickel finish, oversized dual closets and a fitness room. It came completely furnished.

Including the outdoor lanai, the units stretches more than 13,600 square feet.

Collier County property records show the condo last sold for $6.975 million in 2006.

Interest in high-end real estate in the Naples area has picked up since the U.S. presidency was decided, local Realtors say.

In 2016 the most expensive home sold in Naples went for $15.15 million. Built in 1981, the Port Royal estate on Fort Charles Drive has 6-plus bedrooms and 13 bathrooms on land originally platted for two houses. It includes 303 feet of waterfront with east, south and west water views.

The previous high paid for a condo in Naples was $11.7 million. It was for a 4-bedroom penthouse with five bathrooms and a den at the Regent, a high-rise tower at 4101 Gulfshore Blvd. N. in Park Shore. With a living area of 12,050 square feet, it sold at a then-record price on May 7, 2012


Contact David at 239-285-1086 to view resale condos at Naples Cay, and for information on new construction luxury condos in Naples, new construction floor plan variations, more custom luxury homes by WCI Communities, and to arrange a visit to Naples Cay, or Altaira at Naples, Florida.

Naples Winter Wine Festival highest earning charity wine auction

Naples Winter Wine Festival highest earning charity wine auction

Naples Winter Wine Festival NCEFNaples Winter Wine Festival ranked No. 1, again

SHELBY REYNOLDS

The Naples Winter Wine Festival has once again topped Wine Spectator magazine’s list of the highest earning charity wine auctions in the country.

The magazine — the definitive authority on charity wine auctions — has compiled a top 10 list each year since its inception 2001, examining total live auction-bid earnings, excluding paddle-raise or fund-a-need lots.

The latest list reviewing charity wine auctions in 2016 places the Naples festival on the top with $10.5 million, edging out the Auction Napa Valley by $685,000.

This is the 11th time the Naples Winter Wine Festival, which benefits the Naples Children & Education Foundation, has landed at the top of the list.

Another $625,000 was collected at the 2016 auction in a fund-a-need lot to benefit the NCEF’s Early Learning Initiative.

“It is particularly rewarding to earn the top spot because it signifies another year of great impact for kids in Collier County,” 2016 festival cochair Sandi Moran said in a news release.

“The continued success of the Naples Winter Wine Festival has really been a team effort — our wonderful group of trustees, vintners, chefs, sommeliers, staff and volunteers all work together to make the event as unique and exciting as possible, and to drive home how important the auction is to our community.”

Southwest Florida is home to 6 Billionaires

Southwest Florida is home to 6 Billionaires

Shahid Khan: Jaguars at Redskins 9/3/15 Photo by Keith Allison flickr

Shahid Khan: Jaguars at Redskins 9/3/15 Photo by Keith Allison on flickr

Forbes: 6 billionaires reside in Southwest Florida

Naples auto parts magnate Shahid Khan tops list

LAURA LAYDEN

Southwest Florida is home to six of the richest people on the planet.

The 2017 Forbes list of billionaires includes five Naples residents — and another up the road in Bonita Springs.

Some of the locals on the list are easily recognized, while others have taken a lower profile. All of the billionaires hailing from Southwest Florida have appeared on the list before, including a secretive heiress.Here’s a closer look at the region’s billionaires:

» Shahid Khan, 66, once again ranks as the richest man in Southwest Florida. At No. 158 on the Forbes list, his net worth is valued at $8.2 billion. He’s climbed up from No. 205 in 2016, when he had a value of $5.9 billion. A Naples resident, he owns Flex-N-Gate — an auto parts maker that posted nearly $6 billion in sales in 2016 — and the Jacksonville Jaguars. His “300-foot super yacht, six years in the making” was delivered in late 2014, according to Forbes.

» Reinhold Schmieding, 62, weighing in at No. 385, is Southwest Florida’s second- richest businessman. Though he’s dropped in the rankings, his net worth has climbed from $4.1 billion to $4.4 billion. (He was at No. 369 in 2016.) Schmieding owns 95 percent of Arthrex, according to Forbes. His North Naples based company has developed more than 10,000 products and procedures used by surgeons to repair and replace shoulders, knees and other joints.

» Richard Schulze, 76, has jumped up to No. 603, with a net worth of $3.2 billion. Last year Schulze, Best Buy’s chairman emeritus who lives in Bonita Springs, weighed in at No. 722 with a worth of $2.4 billion. He’s one of Best Buy’s biggest individual shareholders, and he “aims to give away $1 billion of his fortune in his lifetime,” according to Forbes.

» Naples resident Tom Golisano sits at No. 660, with a net worth that has grown to $3 billion. Last year he weighed in at No. 688, with a value of $2.5 billion. Golisano, 75, founded Paychex “with just $3,000 and a credit card,” and he’s still chairman of the publicly traded company, which earned nearly $3 billion in revenue last year, according to Forbes. He once owned the NHL’s Buffalo Sabres, which he sold for $189 million.

» With a net worth of $1.8 billion, Catherine Lozick, 72, of Naples, ranks at No. 1,161. Though she dropped from 1067 last year, her worth has grown by $1 million. The only woman to make the list in Southwest Florida, Lozick inherited an estimated 65 percent stake in Swagelok from her father, Fred Lennon, who cofounded the company with a $500 loan in 1947, according to Forbes. The company has annual sales of about $2 billion.

» William Stone, 61, has moved up on the list. At No. 1,567 and with a value of $1.3 billion, he’s tied with two other Florida residents this year including basketball Hall of Famer Michael Jordan. Last year Stone ranked in last place on the Florida list of billionaires — at 1,695, with a value of $1 billion. The Indiana native started SS& C Technologies in 1986 “with the $20,000 he had saved from his days as a KPMG executive,” according to Forbes.

This year there are 51 billionaires in Florida on the list, up from 44 last year.

Housing inventory up, prices steady in February

Housing inventory up, prices steady in February

waterfront homes in Naples, FloridaCollier Realtors group: Pending sales climb 10%

LIZ FREEMAN

The inventory of properties for sale in Collier County increased in February and prices held steady, a sign that buyers have more options, according to the latest real estate report.

At the same time, overall pending sales in February jumped 10 percent and closings shot up 18 percent compared to last year, according to the NABOR report for February. The data does not include Marco Island.

Condominiums in the $300,000 to $500,000 price range were the bright spot in pending sales and condos in the $500,000 to $1 million category hit the sky with a 75 percent increase in closings.

Property listings last month climbed to 6,466 homes, a 16-percent boost compared to inventory of 5,577 the same month in 2016. Condominiums dominated with buyers having 3,207 on the market compared to 2,599 the year before, which was a 23-percent boost in inventory.

High end condo buyers had the largest stock of 284 condos in the price range of $1 million to $2 million to consider, almost double the number compared to 198 high end options on 2016. The bulk of the luxury condos available are in North Naples.

There were 613 closings last month compared to 518 last year in February. Pending sales last month stood at 1,092 for a 10 percent boost compared to 993 a year ago.

Overall median prices among closings rose just 3 percent to $333,000 last month compared to $323,000 the year before.

The median prices of single family homes that closed slipped 5 percent to $402,000 from $45,000 a year ago.

The area hardest hit was North Naples, which experienced a 29 percent decline in closed prices to $650,000, compared to $917,000 last year at the same time. On the flip side, homes in Ave Maria/ Immokalee enjoyed a 29 percent price increase at closing to $287,000. A year ago, the median closing price in Ave Maria stood at $222,000.

Naples Winter Wine Festival

Naples Winter Wine Festival

Naples Winter Wine FestivalNaples Winter Wine Festival grew from table talk to event that has raised $160M for kids

SHELBY REYNOLDS | naplesnews.com

The Naples Winter Wine Festival started as a conversation among friends over lunch.

Seventeen years later, the annual festival has raised more than $160 million, making it the most successful charity wine auction in the nation.

The four-day affair has become synonymous with fine dining, the world’s best100-point wines and a thrilling auction selling overseas trips on jets, fast cars and private concerts with music stars.

The motto is, “It’s all for the kids.”

Every cent of the money raised benefits the Naples Children & Education Foundation.

festival in 2001 to support charitable programs that improve the physical, emotional and educational lives of children in low-income families.

In a county where zero tax dollars support children’s social services, more than half of Collier County children are served, in some way, by the Naples Children & Education Foundation.

In January, the Naples Winter Wine Festival collected $15.1 million under the auction tent. It was its second-largest total so far, about $1 million less than raised in 2007.

On Monday, the foundation will divide $12.25 million among 34 local charities. The remaining $2.8 million will be reserved in a fund for programs and children in the future.

Choosing which charities to support is a decision organizers don’t take lightly.

“It’s very, very difficult,” said foundation CEO Maria Jimenez-Lara. “Although we’ve been very successful at fundraising, we can’t keep up pace.

“It’s very rewarding that we know the funds are effective … but it’s challenging because we know that it’s not going to meet that need and fund that child forever. There’s always that caveat.”

‘We thought we needed to help’

It all began with a conversation around a table. Twelve friends got together for lunch and talked about their passions for wine and helping children.

Many of them, such as Denise Cobb with the Boys & Girls Club, already were involved with local charities.

“We learned that none of the tax dollars raised in Collier County go to children’s social services, which is unbelievable and appalling,” said Cobb, a founding trustee of the festival and a 2017 cochair. “We thought we needed to help out.”

From the beginning, the Naples Winter Wine Festival was meant to bring attendees not only from Southwest Florida, but also from around the country. Organizers invited chefs, vintners and someliers from renowned locations all over the world.

And it worked.

Part-time Naples resident Judy Sheindlin, the no-nonsense Judge Judy, attended the first auction. Wolfgang Puck joined as chef du cuisine in 2007 and returned to two more festivals to prepare private vintner dinners at homes in Naples.

“I’ve been to a lot of benefits,” Puck said in the kitchen of a top-floor Naples penthouse in January. “It’s nice to see people with money give back to something.”

Each year, festival-goers bid hundreds of thousands of dollars on auction lots that have included safari trips to Africa, a five-night stay in Argentina and a two-week cruise around the world.

At the 2017 auction, none of the 62 lots sold for less than $100,000.

In terms of totals raised under the tent, the wine festival in Naples is rated No. 1, according to the latest report from 2015 by Wine Spectator magazine, the definitive authority on charity wine auctions after compiling a list of the top 10 most successful festivals since 2001.

The extravagant Naples event has topped the list for 10 of the past 15 years, going head to head with the likes of Napa Valley and Sonoma, California.
“The Naples Winter Wine Festival is unique in that people really come knowing that they’re going to make a large donation,” said Jeff Gargiulo, a Napa Valley vintner who was also at the lunch table 17 years ago to start the conversation.

“The expectations are we’re going to have a lot of fun while we give money away,” Gargiulo said. “We make it as much fun as you can have legally.”

‘It’s all for the kids’

The festival starts with the kids.

On the first day, patrons gather at a charity organization in Collier County for “Meet the Kids Day,” to see firsthand how their donations impact the charity’s ability to expand, and to interact directly with at-risk children.

“(Patrons) see the actual need that is still existing,” Cobb said. “That gets them excited, and to meet the kids is an incredible thing.”

And the need for childcare in Southwest Florida is great, organizers say.

More than half of the children in Collier County are considered economically needy, Jimenez-Lara said. That equates to an income of about $48,000 for a family of four.

Grants from NCEF fund, on average, about 28 charities and their programs each year. Those charities, for example, provide food distribution to hungry children, host health care workshops at community centers and provide dental sealants for elementary school students to prevent cavities.

“The safety nets we built are designed to help kids from falling through the cracks,” Jimenez-Lara said. “We’ve tried to build systems of care so that you don’t have to put a Band-Aid on it. We want happy and real outcomes for the children, and not just that we bought them some time.”

Friends of Foster Children Forever, which provides abused, neglected and abandoned children with social, educational and financial support, has been a regular grantee of NCEF’s funding. Since its first grant in 2002, Friends of Foster Children Forever has received more than $4 million from NCEF, said Jane Billings, the organization’s executive director.

“It’s just extraordinary,” she said. “We’ve helped thousands of foster children.”

What makes the Naples Winter Wine Festival one of the best, organizers say, is NCEF has been able to bring charities with similar missions together to collaborate to aid the community. NCEF “plants a seed,” Jimenez-Lara said, and then lets the work be done.

It’s a rare practice in communities across the country, Jimenez-Lara said. Many charity organizations compete against one another to receive grants and funds.

Friends of Foster Children Forever, for example, has now been able to partner with Collier County schools, case management agencies and Florida Gulf Coast University.

“The respect and trust you earn by being one of their organizations builds and open doors,” Billings said. “This community would not be where we are in caring for our children if we didn’t have NCEF. They have changed the whole infrastructure of our community and how we care for our children. … I don’t know anywhere else where this is happening.”

How grants are decided

It takes about six months, Jimenez-Lara said, for an 11-member board to decide how to divide millions of dollars collected from the auction.

At 4 p.m. Monday at Bay Colony Golf Club in Naples, NCEF will announce which 34 charities will receive grants, and how much they will get from the $12.25 million pot.

“I think the work that we do is so important and so special,” Jimenez-Lara said. “We work really hard to be good stewards of the money we raised, but I also think the happiest part of this is that we’ve made such large strides as a community.

“Where we get to divide the money is a very special day for us.”