Port Royal Property Is A Pocketful At $49 Million

Posted by Office Staff on Monday, February 17th, 2014 at 10:50am.

1832 GALLEON DRThe Port Royal mansion of Cypress Cos. Chairman and cofounder, James McCready, is probably the costliest on the Naples housing market. Pegged at a whopping $49 million, luxury brokers claim that the house is worth the listing. Purchased by McCready and his wife Gail in 1999 for $8.6 million, the house was constructed in 2002 by the Williams Group, and took two years to build even with one hundred construction workers laboring on it.

Today, the home is valued at $26,968,335. The listing broker mentions the reason for the sale is due to McCready planning to economize his finances. McCready plans to move in to a lower cost property in the same neighborhood, instead. The 14,678-square-foot property boasts its own private harbor, a golf course, and a lake - in addition to other fancy features such as Mexican fossil stone exteriors. Other luxury brokers in the area believe that the price tag is well worth the investment. The house is set to be marketed primarily to wealthy global customers who are keen to own property in the upscale Port Royal region.

While the $49 million price tag may turn some heads, the brokers claim that it is by no means the highest costing property in the area. Other unlisted properties at Port Royal are valued at $55 million and $75 million, they claim. It will be worth a look to see who takes up the impressive five-bedroom, 10-bath mansion and if it will be able to go for the listed price.

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