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70-year-old quaint beach home in Old Naples sells for $25.5 million

aerial photo of 325 Gulfshore Blvd Naples, FLorida at sunset with view of Gulf of MexicoJennifer Beeson, Naples Daily News Published 10:00 a.m. ET April 28, 2019 | Updated 10:38 p.m. ET April 28, 2019

The 3-bedroom, 3½-bath home at 325 Gulf Shore Blvd. N., sold March 29, 2019 for $25.5 million.

The quaint three-bedroom, 3½-bath home at 325 Gulf Shore Blvd. N., in Old Naples sold March 29. It last sold in 1987 for $1.275 million.

Built in 1948, the salmon-colored home with teal shutters sits on nearly 2 acres overlooking the Gulf of Mexico with 240-feet of beach frontage.

“For a $25 million dollar lot that’s not the kind of home you would want to live in,” said Kathy Morris, a real estate agent with Downing Frye Realty who found the buyer.

The transaction

William Raveis Real Estate agent John Paul Prebish represented the seller.

Previously the 4,261-square-foot home was owned by Harvey and Anne Shreve, who have died in recent years. The identity of the new owners has not been disclosed.

According to the Collier appraiser website the home is owned by Gulf Shore Land LLC.

Morris, who has been selling real estate in Naples for 20 years, said she couldn’t say what plans the new owner has for the property, but she hinted the home is not in any livable condition.

“It’s not like a fixer-upper,” she said. “You can pretty much guess what they’ll do, no one can live in that home in that condition.”

Tear-down trend

Recently a trend of multimillion-dollar homes being torn down to build new contemporary homes has popped up in the Old Naples and Port Royal neighborhoods and has many locals scratching their heads.

“Compared to some of the others that have been torn down recently, this one isn’t anywhere near in the category that those were,” Morris said. “The other ones are kind of hard for me to understand why they were torn down … those homes were maybe 20 years old.”

The priciest home to ever sell in Collier was torn down five months after the new owners purchased the mega-mansion at 2500 Gordon Drive for $48.8 million last June.

That 10,825-square-foot home sitting on 5.49 acres was built in 1994.

Just two houses down a 6,209-square-foot, Southern-Colonial mansion built in 1986 sat on 2.53 acres. That home sold in January for $22.5 million and was demolished two months later.

“People have their own personal tastes and preferences and don’t want to live with decorating decisions that others made I guess,” Morris said.

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