Ex-BoSox Gator Greenwell sells Alva Estate for $3.060M

The most expensive home to sell in Lee County, Florida during June 2010 was an under-construction, river-front estate in Alva owned by former MLB player Mike “Gator” Greenwell.  This 8,100 SF estate, located at 12350-20 Old Rodeo Drive in Alva features 4 BR and 6 BA and 1,500 feet of frontage on the Caloosahatchee River.  The selling price was $3.060M / $378 SF.

Congratulation to selling Realtor Aldee Rosenberg with Coldwell Banker for closing the most expensive residential property in June 2010.

Honorable mention for 2nd most expensive Lee County home sold in June was a single-family gulf-front home located on Captiva in the Frowes Subdivision at 16183 Captiva Drive, Captiva.  This home is 3,743 SF and features 4 BR / 3.5 BA with direct beach access and a shared dock on Pine Island Sound. The selling price was $2.5M / $668 SF.

Congratulations to selling Realtor Jim Branyon of Royal Shell Real Estate, Inc for closing this transaction.

In June 2010, there were twelve residential transactions in Lee County with a selling price over $1M, this is down from seventeen in May 2010, thirteen in April 2010 and up from seven transactions in March 2010 and five transactions in February 2010.

Here is a resource if you are interested in learning more about Fort Myers luxury homes that are currently listed for sale.

The most expensive home to sell in Lee County, Florida during April 2010 was a gulf front Captiva estate home located in Captiva Village.  This F A Lanes Bayview neighborhood home located at 15017 Binder Drive in Captiva is 3,929 SF and features 3 BR and 3.5 BA.  The home was built in 1999 and has a private boat dock and lift and panoramic views of Pine Island Sound.  The selling price was $2.4M / $611 SF.

Congratulations to selling Realtor LeAne Suarez of Gulf to Bay Sotheby’s International Realty for closing the most expensive residential property in April 2010.

Honorable mention for 2nd most expensive Lee County home sold in April was a single-family home located on Connie Mack Island at 14771 Jonathan Harbour Drive in Fort Myers.  This home is 5,662 SF and features 5 BR / 5 BA with views of the Bay, Gulf and Caloosahatchee River. The selling price was $2.2M / $389 SF.  Gulf Returns had previously featured this home in a post about Fort Myers luxury foreclosures.

Congratulations to selling Realtor Myrna A Richards-Speas of Amerivest Realty of Lee Island Coast for closing this transaction.

In April 2010, there were thirteen residential transactions in Lee County with a selling price over $1M, this is up from seven transactions in March 2010 and five transactions in February 2010.  It is safe to say that we are seeing a slight rebound in the Fort Myers area luxury market!

Here is a resource if you are interested in learning more about Fort Myers luxury homes that are currently listed for sale.

The most expensive home to sell in Lee County, Florida during February 2010 was a Captiva single-family home located at 11527 Andy Rosse Lane in Captiva.  This Captiva Village home is 3,793 SF and features 4 BR and 5 BA.  The home was built in 1999 and is located in Captiva’s unique village by the sea. The selling price was $2.05M / $540 SF.

Congratulations to selling Realtor Tracy Walters of John R. Wood Island Real Estate for closing the most expensive residential property in February 2010.

Honorable mention for 2nd most expensive Lee County home sold in February was a single-family home located at 26628 Hickory Boulevard in Bonita Springs.  This direct beachfront home in Bonita Beach is 2,896 SF and features 4 BR and 3.5 BA.  The selling price was $1.9M / $656 SF.

Congratulations to selling Realtor Doug Grant of Coldwell Banker for closing this transaction.

In February 2010, there were five residential transactions in Lee County with a selling price over $1M.  Here is a resource if you are interested in learning more about Fort Myers luxury homes that are currently listed for sale.

The most expensive home to sell in Lee County Florida during November 2009 was a Captiva beachfront single-family home located at 11551 Wightman Lane, Captiva.  The Captiva home is 2,200 SF and features 3BR and 3.5 BA.  The home was re-built in 2003 and offers spectacular gulf-front views and beach access.

The selling price was $3.1775M / $1,444 SF.  Congratulations to selling Realtor Rose Dakos of VIP Realty Group, Inc. for closing the most expensive residential property in November 2009.

Honorable mention for 2nd most expensive Lee County home sold in November was a single-family home located at 10411 Via Lombardia Court, at Miromar Lakes in Fort Myers.  This waterfront home in the Castelli neighborhood of Miromar Lakes is 5,404 SF and features 4 BR and 6 BA.
The selling price was $3.1M / $573 SF.  Congratulations to selling Realtor Jay Siegall of Sun Realty, LLC for closing this transaction.

On a most positive note, there were seven residential transaction in Lee County over $1m in November 2009.  This is the highest number of $1M+ transactions since Gulf Returns started tracking Fort Myers area luxury closings.

For those of you considering dipping your toe in the Florida real estate market, Jim Cramer believes that we are at the bottom. The supporting logic behind this proclamation is that builders stopped new construction in Florida two years ago and inventory is being absorbed by our continued low interest rates. Cramer suggests that Florida will lead the nation out of the housing crisis.

At the present time, there are interesting real estate investment opportunities across the Southwest Florida market in Fort Myers, Fort Myers Beach, Estero, Bonita Springs, Cape Coral, Sanibel and Captiva.

The most expensive home to sell in Lee County Florida during June 2009 was a Captiva gulf-front single family home located at 16600 Captiva Drive, Captiva. This Gold Coast estate is 13,140 SF and features 6 BR and 8 BA on a 1.12-acre beachfront lot.

The selling price was $7.25M / $551 SF. Congratulations to selling Realtor Lynda Traverso of VIP Group, Inc-Sanibel for closing the most expensive residential property in June 2009.

Honorable mention for 2nd most expensive Lee County home sold in June was a single-family home located at 767 Cal Cove Drive, Fort Myers. This 6,710 SF riverfront home located in the waterfront community of Town and River Estates features a 5 BR and 5 BA.

The selling price was $2.8M / $431 SF. Congratulations to Chad Reedy of Flaherty Realty, P.A. for closing this transaction.

The most expensive home to sell in Lee County Florida during May 2009 was a Captiva gulf-front single family home located at 953 S Seas Plantation Rd, Captiva. This South Seas Resort home is 4,530 SF and features 5 BR and 5 BA on a .93-acre beachfront lot.

The selling price was $4.912M / $1,084 SF. Congratulations to selling Realtor LeAne Suarez of Gulf to Bay Sotheby’s International Realty for closing the most expensive residential property in May 2009.

Honorable mention for 2nd most expensive Lee County home sold in May was a single-family home located at 16406 Captiva Dr, Captiva. This 3,252 SF direct gulf estate-zoned property features a 4BR/3BA main house and a 3BR/2BA guest house.

The selling price was $3.6M / $1,107 SF. Congratulations to Les Pendleton of American Realty for closing this transaction.

The most expensive home to sell in Lee County Florida during March 2009 was a single-family bay-front home located at 1571 San Carlos Bay Drive on Sanibel Island. This recently renovated home overlooks San Carlos Bay with expansive views to Punta Rassa and Pine Island. This home offers 3,121 SF and features 4BR and 4BA.

The selling price was $3.0M / $961 SF. Congratulations to selling Realtor Peter Aldrian of Captiva Realty, LLC for closing the most expensive home in March 2009.

Honorable mention for 2nd most expensive Lee County home sold in March was a single-family home located at 4600 Schooner Drive on North Captiva Island. This newly-built home offers 5BR and 5BA and a 1/7th ownership interest in a lot providing deeded beach access.

The selling price was $1.475M. Congratulations to Mark Muller of Resort Properties Internationale, LLC for closing this transaction.

The most expensive home to sell in Lee County Florida during January 2009 was a single-family home located at 11515 Wightman Lane in Captiva. Whightman Lane is located in the village of Captiva and is one block north of the famed Andy Rosse Lane. This home is 2,650 SF and features 5BR and 5BA.

The selling price was 2.275M / and a whopping $858 SF. Congratulations to selling Realtor Kara Cuscaden of Royal Shell Preferred Properties for closing the most expensive home in January 2009.

Honorable mention for 2nd most expensive Lee County home sold in January was a Sanibel canal-front, single-family home located at 513 Lighthouse Way on Sanibel. This sailboat access home offers is 3,023 SF and features 3BR and 3BA.

The selling price was $1.575M / $521 SF. Congratulations to Glenn Carretta of John R. Wood Island Real Estate for closing this transaction.

The most expensive home to sell in Lee County during October was a beach-front single-family estate located at 16596 Captiva Drive, Captiva. This 7,000 SF, 5BR, 8BA home features direct gulf views from every room.

The selling price was $9.25M / $1,321 SF. Congratulations to selling Realtor Mike McMurray of VIP Realty Group-Sanibel for closing the most expensive home in October 2008!

Honorable mention for 2nd most expensive Lee County home sold in October was a York Manor riverfront home located at 3530 Stuart Court in the heart of Old Fort Myers. This 4,607 SF single-family home features 4BR and 5BA.

The selling price was $1.75M / $379 SF. Congratulations to Greg Fous of Engel & Voelkers River District Fort Myers for closing this transaction.

Waterfront is the common theme for these two top transactions in Lee County, Florida. With wonderful beaches and gulf access properties across all price points, it is a great time to buy in Southwest Florida.

Forbes magazine recently ranked Captiva Island as one of the most expensive zip codes in the US. No argument here from the peanut gallery as it is close to $2M for a decent single-family home on Captiva these days.

One bedroom Captiva condos in South Seas developments like Bayside Villas or Tennis Villas start in the mid $300,000s.

Captiva cited as one of most expensive zip codes in U.S. [Captiva Current]

Let’s imagine for a moment that you are doing some fall cleaning and under the mattress you find some Google stock certificates left over from the dot.com boom that are now worth $7M…….Now what? How about buying a home in Southwest Florida!

There are a several options choose from in the $7M range with the majority either in a riverfront setting in Fort Myers or along the beach in Captiva.

My $7M picks are as follows:

11250 Longwater Chase, Fort Myers – Gulf Harbour riverfront location with over 7K SF. Built in 2001 with 4 bedrooms & 7 baths. Home includes a private sandy beach. All the amenities of Gulf Harbour Yacht and Golf Club round out the attractiveness of this beautiful home. $6.9M

16730 Captiva Drive, Captiva – Captiva Gold Coast beachfront. Home is over 12K SF and sited on over an acre of land. 5 bedrooms and 4.5 baths built in 1995 by the Wolter Group. The beaches of Captiva are treasured by everyone who has visited them. $6.995M.

1210 Gasparilla Drive, Fort Myers – Riverfront in the old Fort Myers York Manor neighborhood. Bud Lawrence designed with European flair. 8.5k SF with 5 bedrooms and 8 baths. Includes a 175 ft of river frontage and a 200 ft dock offering deepwater gulf access. $6.995M.

Famed Captiva resort back in business

The much awaited re-opening of South Seas Island Resort, the grande dame of Southwest Florida tourist destinations, is today. The opening is being coined a “soft opening” as some of the resort is still in the process of being repaired from Hurricane Charlie devastation.

There is nothing soft about the full-page advertisements that South Seas is running in some large northern city Sunday newspapers. Certainly caught my attention!

Repairs are not complete at one of my favorite areas of South Seas, Lands End Resort, which is expected to open in the July time frame. There may be no better time than the present to acquire a treasured Lands End condominium. At this time the only Lands End unit on the market is #1654, a 3BR/3BA Penthouse listed at $1,799,500.

South Seas reopens, still work in progress [News-Press]
Resort opening brings hope to island businesses [NBC2]

Normalcy returns to barrier islands

Sanibel and Captiva are the bellwether for tourism here in Lee County. The success of our real estate market is interwoven with the ability of these resort communities to draw visitors to the region.

The continued health and growth of our market is dependent on the absorption of inventory by in-migration. Many of these newcomers will be baby-boomer aged northerners who were initially attracted to the area through a vacation on Sanibel or Captiva.

On a day when the northeast is getting hammered by a major blizzard, it is great to see that the lead travel story in the Boston Globe is about visiting Captiva and Sanibel. For those of you up north planning a trip down, please drop me an e-mail if you are interested in looking at investment opportunities on Sanibel or Captiva.

Captiva comes back [Boston Globe]

Famed Captiva resort to have new owners

In an apparent below market valued transaction, South Seas Resort was acquired by Blackstone Group LP for $367 million in cash. In addition to the Captiva and Sanibel assets, the transaction included hotel properties owned by MeriStar Hospitality in Key Largo and Clearwater.

This transaction is certainly a positive for the SW Florida market as the famed resort has been closed since damaged by Hurricane Charley in August 2005. The 3,500 guests that visited the resort on a weekly basis have over the years ignited the SW Florida real estate market.

South Seas resort sold [News-Press]

Famed Captiva resort opening in February 2006

The grand dame of Southwest Florida resorts, South Seas, is rising from the rubble of Hurricane Charlie and is accepting reservations for its re-opening in February, 2006.

Charley washed and blew much of the 600-unit resort down to the foundation, so owners MeriStar Hospitality Corp. and dozens of individual unit owners agreed to pour more than $140-million into a 17-month rebuilding. Most of the bill is supposed to be paid by insurance, but how much is being negotiated.

“The result is a brand new property,” said Chris van der Baars, general manager of the resort once known as South Seas Plantation. “It’s so different that sometimes I end up in a spot where I have to wonder for a second exactly where I am and what it used to be.”

South Seas is a specialplace for me as it was during a vacation at this resort that I discovered the real estate investing opportunities that exist in SW Florida. I am amazed at just how many SW Floridians first exposure to the region was a vaction at South Seas.

Captiva resort reborn after Hurricane Charley damage [St. Petersburg Times]

$577M East-West Connector Proposed

As I find my self spending an ever increasing amount of time stuck in traffic on Colonial Boulevard, the proposed new Veterans-Colonial express lanes would provide welcome relief.

The consulting and engineering firm PBS&J has completed a plan to ease the flow of traffic on the critical Veterans-Colonial route. The plan includes intersection overpasses and express lanes.

A recent US Census report on commutes, ranked Lee County as having the second longest commuting times in Florida, trailing only Broward County. On a national basis, Lee County at an average of 25.6 minutes is tied with Orange County in California as the 83rd worst for commuting times in the country.

As with any project like this, the real issue is who will foot the bill. With the explosive growth in both the Cape and Lehigh, this is a project that absolutely needs to be built.

Cape to I-75 corridor proposed [News-Press]