A brand-new, 10,000-square-foot home in Naples, Florida, has just been listed for $49.5 million.
The home is located in the exclusive Port Royal neighborhood, right along one of its beautiful canals.
The waterfront property features six bedrooms, nine bathrooms, a double-level pool, and even a 40-foot dock.
The seller, Greg Summe, is a finance executive from Naples.
He bought the land in 2018 for $13.5 million, and the previous home was torn down in 2023. After years of planning and construction, the new modern West Indies-style house was completed this year.
It was designed by Stofft Cooney Architects and built by the Williams Group.
“This home was a labor of love,” said Summe. “We put the best team together, and they did an amazing job.”
While Summe and his wife originally planned to live in the home, their plans changed over time.
“With grandkids in New York and San Francisco, we’re not spending as much time here as we thought we would,” he explained.
The house comes fully furnished, with interiors designed by Phoebe Howard.
The design includes custom drapes and cabinetry, plus three offices, a loft with a bar for entertaining, and a kitchen with two islands.
The open layout lets the kitchen, dining, and living areas flow into the outdoor space through glass sliding doors.
Outside, there are covered verandas with seating and dining areas, all overlooking a pool with a mosaic-tiled spa that flows into it.
The pool area also has firepits and lounge spots.
The property is located on Morgan’s Cove, which is known for having the deepest water in Port Royal, and is just one block from the beach.
A new Port Royal Club is also being built nearby.
Summe and his wife also own another home in Port Royal, which they bought in 2021 for $13.2 million.
According to the listing agent, Tim Savage, the couple decided they are happy where they are and no longer need this new home.
Port Royal is one of the wealthiest neighborhoods in Naples, with homes valued at over $15 million on average.
Just down the road from this home, a similar new-build is listed for just under $45 million, while other nearby homes are priced closer to $20 million.