New waterfront estate in Naples’ Port Royal sells for $35M

A newly built waterfront estate in one of the country’s most exclusive neighborhoods has sold for $35 million, a transaction that underscores both the scarcity of new construction in Port Royal and the sustained appetite for ultra-luxury property along Florida’s west coast.

The residence at 3373 Rum Row sits on the broad waters of Galleon Cove and was designed and built by a team long associated with some of the region’s most ambitious homes: London Bay Homes, Stofft Cooney Architects and Romanza Interior Design. The result is a contemporary coastal estate of nearly 8,400 square feet of air-conditioned space, arranged across six bedrooms, seven full baths and three half baths, with multiple lounges and entertainment spaces.

Expansive glass walls open to a resort-inspired outdoor area centered on a sculptural pool and spa. Terraces, a summer kitchen and fire features overlook roughly 130 feet of water frontage and a private dock with direct Gulf access — elements that have come to define the Port Royal aesthetic of seamless indoor–outdoor living.

The buyer was represented exclusively by Marc Fitzgerald of Premier Sotheby’s International Realty’s Broad Avenue office. “Properties of this caliber are rare even in Port Royal,” Fitzgerald said. “The combination of craftsmanship, location and waterfront lifestyle made this an exceptional opportunity for my customers, and I’m thrilled to have helped them secure a home that truly represents the best of Naples luxury living.”

Port Royal has long maintained a near-mythic status in Florida real estate. Conceived in the mid-20th century as a master-planned enclave of deep-water canals and sprawling estates, it remains a place where privacy is as prized as panoramic views. The neighborhood offers immediate access to the Gulf and is anchored by the Port Royal Club, whose social and recreational programs have shaped the community’s culture for decades.

New construction in the neighborhood is especially limited, making the sale notable even amid Naples’ booming luxury market. Properties that combine modern architecture with sizable waterfront exposure have been among the fastest to attract national and international buyers, part of a broader shift toward primary and seasonal residences designed around outdoor living, wellness and privacy.

The sale comes as Naples–Marco Island remains one of the nation’s most expensive luxury markets, even amid a slight cooling. The threshold for the top 10% of listings now sits around $3.44 million, according to Realtor.com’s latest luxury housing report — a modest 2.1% dip from last year but still the seventh-highest benchmark in the country. The metro averaged nearly 2,000 million-dollar listings over the past year, evidence of steady demand from high-net-worth buyers who continue to view Collier County as a long-term investment rather than a speculative play.

For Premier Sotheby’s International Realty, headquartered in Naples and connected to more than 1,400 sales professionals, the transaction adds to a string of high-end closings across Florida and the Carolinas. The brokerage benefits from its affiliation with Sotheby’s auction house, founded in 1744, and from its parent company, The Lutgert Companies, a longstanding influence in Southwest Florida development.

The sale of 3373 Rum Row reinforces Port Royal’s position at the apex of Naples’ luxury market at a time when demand shows little sign of slowing.