Million Dollar Listing Sanibel

The home has a private 700-foot beach and topnotch hurricane resilience. COURTESY PHOTO

Lee County is moving up in the world – way up, in terms of one unique home for sale on Sanibel Island. The home is spectacular – and so is the asking price when you consider other residences sold previously in Lee County.

The 11,000-square foot home at 6111 Sanibel-Captiva Road on the Gulf of Mexico is listed at $44,880,000. It’s the most expensive listing ever for a residence in Lee County.

But Tiffany McQuaid of McQuaid & Company, a Naples based broker, thinks her listing will sell. The timing is ideal, she said. “The price point is right.”

Besides, she also has a powerhouse broker partnering with her on selling the property – Ryan Serhant, star of the show “Million Dollar Listing New York” and its spinoff “Sell it Like Serhant,” previously on Bravo. Serhant also has a recently released reality show on Netflix called “Owning Manhattan.”

Serhant’s company, simply called Serhant. and his famous name will give the property global exposure, McQuaid said. It also shows that a New York brokerage believes in the value of Southwest Florida real estate, she said.

MCQUAID

The superlatives in the description of this home flow like gentle waves washing on the shores of private, 700-foot beach on the Gulf of Mexico.

That private beach is one of several reasons the residence can command such a high price, McQuaid said. The property is also actually being sold with an adjacent adjoining lot at 6089 Sanibel Captiva Road.

“It has a little bayou and a dock,” McQuaid said.

The house is built to commercial hurricane code, which is more stringent than the residential code, McQuaid said. When Hurricane Ian hit, the only damage to the compound was some saltwater intruding into the generator, 34 cracked roof tiles and some landscaping damage. “It’s a fortress,” she said.

Besides panoramic views of the Gulf of Mexico, the property features five bedrooms and six bathrooms. The gourmet kitchen, with its state-of-the-art appliances, features a walk-in cooler. There’s a pool with a spillover waterfall and a private path leading to a white sand beach where you or guests can pick up a shell or two or a dozen.

SERHANT

The home has a split floor plan that places the living area on one side of the home and the entertainment space on the other. There’s a fireplace and a private balcony where you can sip wine at sunset and watch dolphins play. The living area has a separate “morning kitchen.” The description emphasizes luxury, sanctuary and natural surroundings that will remain unspoiled because of Sanibel’s commitment to conservation.

It’s touted as a slice of paradise.

“With multiple living areas both inside and outside, this property offers the perfect setting for relaxation, privacy and entertainment,” the broker’s press release reads. In other words, you can just chill or throw one heck of a party. Set on a total of five acres, it’s a supersize estate for a supersize price for anyone with big enough buying power to make it his or her own.

Set on a total of five acres, this estate offers ample space for privacy, outdoor activities and hosting grand events. COURTESY PHOTOS

Which leads to the question – who would buy it?

McQuaid said prospective buyers could include a corporate executive, celebrity or politician. They’ve already had a couple of private showings, she said. They had a big launch party at the end of June with hundreds of people, music and food, including a red velvet cake from the Bubble Room.

“Honestly, look at properties in Naples in the same price point. There’s no comparison,” she said. “There’s a value to being in Sanibel and Lee County that you get a lot for your money.”

However, the property appraiser’s records show that the residential property with the most market value currently in Lee County is a $15,990,056 home on Boca Grande. It was built in 1998, has nearly 11,000 square feet of living space on 4.7 acres on the bay, with four bedrooms and 4.5 bathrooms. In fact, the market value of the top 10 properties sold in Lee County include six from Boca Grande, three in Bonita Springs and one on Captiva Island.

COURTESY PHOTOS

“It remains to be seen whether it will fetch that price point,” said Matt Caldwell, Lee County property appraiser. “There’s no question we are maturing into a market that rivals the East Coast,” referring to Palm Beach and Broward counties, he said. Collier County consistently has listings this size, particularly in areas like Port Royal, Caldwell said. It’s inevitable that these price ranges would come to our area, especially the islands, he said.

The next highest residential listing in Lee County currently is $38 million, also on Sanibel, a 2.26-acre property at 4405 W. Gulf Drive.

Of course, Naples boasts many such slices of paradise, including the $295 million, 9-acre compound at Gordon Pointe, said to be the most expensive listing in the country.

Can a $44.8 million property sell in Lee County?

“There’s always a prayer,” said Denny Grimes, founder and president of Denny Grimes & Team, who has studied the markets in Lee and Collier for 40 years. “If you were the seller with a potential chance of getting that, wouldn’t you try?”

The expansive backyard features meticulously landscaped gardens, creating a lush and tranquil retreat.

It’s true that the property would be listed for a lot more if it were in Naples, he said. From that viewpoint, “it’s a deal.”

Grimes tried to put things in perspective.

“Will it sell? It will sell, yes. What it will sell for, I don’t know,” he said.

In the last two years, 18 homes were sold for over $20 million, all in Collier, he said. Going back to the beginnings of the MLS, 43 transactions closed at over $20 million in Collier. How many in Lee County? “Zero,” he said.

“There’s never been a $44 million home listed. If it’s never listed, it will never sell,” Grimes said. There’s a good chance it won’t sell for $44 million, “but it may make a record sale, and I wish them well.” ¦

With a split floor plan, the home offers separate living and entertainment areas, including a private balcony with sunset views.

The post Million Dollar Listing Sanibel first appeared on Bonita Springs Florida Weekly .