September 2022 Newsletter I Matt Brown Real Estate I Naples, FL

Name: Matt Brown
Address: 720 5TH AVE S SUITE 201, Naples, FL, 34102, US
Telephone: (239) 580-8864

ONE NAPLES LUXURY HIGH-RISE DEVELOPMENT AT VANDERBILT BEACH

September 2022 Newsletter

Summer’s officially over as the kids have all gone back to school and most vacationers are back from their summer travels. We are finally creeping up on season which means cooler weather, more visitors and events! One of the first big events of the season is coming up next month…The Paradise Coast Wine & Food Experience presented by USA TODAY takes place 10/15 from 1 to 4pm in Cambier Park (Old Naples), get tickets here if interested. By the way, Florida’s Paradise Coast website is a great resource if you are looking to start planning your calendar for this coming fall/winter. This month’s newsletter features One Naples, an impressive new development located at Vanderbilt Beach just north of the well-established Ritz-Carlton Beach Resort – details and exciting updates are below.

Top Local Real Estate News:

🥇 Travel & Leisure named Naples as one of the best places to move in the US. With more people working remotely than ever, Naples has quickly become the primary home of many urbanites relocating from cities such as Chicago and New York City. In fact, it now holds the title of the safest place to live, according to a recent U.S. News survey, and is one of the fastest-growing cities in the country, attracting not just retirees but also younger couples and families. (more info)

🏨 Site work began for The Perry Hotel Naples, a seven-story hotel targeted to open in the first quarter of 2024 next to The Bay House restaurant in North Naples. The hotel will offer 160 rooms with world–class amenities, including distinctive food and beverage venues, ground–level and rooftop pools and a seventh-floor open–air rooftop bar, 75-seat restaurant with unmatched panoramic Gulf of Mexico views and an eight–slip marina for water-sports and excursions. (more info)

💰 Lee Health sold 45.6 acres fronting U.S. 41 and Coconut Road in Estero for $32 million, just across the street from the Coconut Point shopping center. The land will have to be rezoned for mixed-use planned development to create a “town center destination.” The developer hopes to break ground within two years and plans to make it a luxury, market-rate apartment complex with surrounding retail and restaurants. (more info)

🛩 Southwest Florida International Airport (RSW) is expanding its terminal to improve on airport efficiency and provide passengers with more amenities and options. The $331-million project is being funded without using property taxes for airport operation or construction. The project started in October 2021 and is expected to take three years.

Market Update:

📊 The Naples market activity picked up in August with increases in pending sales, average sales price and average sales price per square foot. The number of price reductions appears to have peaked in May/June and has now decreased for 2 consecutive months but is still higher than peaks seen in past years. Inventory is still constrained with only 2.2 months of supply available and we had 842 new listings come on the market in August, the 2nd lowest # in the last 3 years (only April 2020 was lower). For a couple months this past spring, properties were selling on average 1% over asking, now there is more negotiating going on with the average sale in August closing at 3.6% below last asking.

New Development | ONE NAPLES

One Naples is a resort-style boutique community of just 128 luxury condominiums coming soon to Naples at Vanderbilt Beach by Stock Residences, a luxury home builder for over 20 years. There are 5 buildings total with 2 on the bay (with a 22 slip marina) and 2 towers facing the beach. One Naples offers luxury residences, penthouses and grand penthouses and features an incomparable setting with captivating gulf and bay views, luxurious amenities, a marina, and an exemplary caliber of concierge services. Residents will enjoy boating from a multi-slip marina on Vanderbilt Lagoon, luxurious pools and cabanas, fire pits, bike paths, walkways, lush landscaping, expansive open green spaces, and quick access to Vanderbilt Beach. Expected completion is summer 2025.

September Update: After a time period of accepting non-binding reservations this past spring, I’m excited to share with you that Stock Development will begin going to contract on units at One Naples starting in October. Also there are a few key changes to the project:

One Naples will be partnering with a well-known luxury brand! Details will be announced in October.
- 11/2/22 Update: One Naples has officially announced their partnership with Ritz-Carlton and the name of the development has been rebranded as The Ritz-Carlton Residences, Naples.
A private restaurant for residents with indoor and outdoor dining is now planned for the community and will be located on the towers amenity level, adjacent to the main pool.
There will be a rooftop terrace on the top level of the Towers for the exclusive use of the Tower Residence owners.
Bay Residence owners will be able to use the amenities within the Towers in addition to having their own rooftop pools and exercise area.

Bay Residences – Starting around $2.5M

Two mid-rise buildings with five floors over one floor of parking
Each residence is three bedrooms and three and one-half baths
Over 3,000 SF with terraces over 400 SF featuring beautiful water and marina views
Luxury building amenities
Exclusive rooftop pool, sundeck, and fitness center

Tower Residences – Starting in the mid-to-high $4Ms

Two majestic 12 story towers
Three, four, and five-bedroom residences with en-suite baths
Residences from over 4,000 SF to over 4,900 SF with terraces from over 600 SF
Penthouses from over 5,600 SF with terraces from over 700 SF
Grand Penthouses from over 8,800 SF with terraces from over 1,300 SF
Private owners’ lobby and dedicated security and concierge
Grand winding staircases leading to exclusive owner amenities
Clubroom with a library, card room, bar, fireplace, piano, and lounging areas.
Game room, catering kitchen, private movie theater, and golf simulator
State of the art fitness center, spa with steam, sauna, and treatment rooms
Architecturally landscaped pool deck with lap pool, resort-style pool, chaise seating, cabanas, grilling station, and stunning views
Access to guest suites for visiting family and friends