Olana Naples Breaks Ground: 12 Homes From $32M on a $102.6M Site

The numbers

Affiliates of Apollo Global Management and BDT & MSD Partners closed a $197 million construction loan, as reported by Commercial Observer and Business Observer in September. Add the $102.6 million land price and the two figures reach about $299.6 million, or roughly $25 million for each of the 12 homes, before equity or other costs. That compares with the $32 million starting price. Twelve homes sold at the starting price alone would bring in at least $384 million, per our arithmetic from the release. The two beachfront villas are the largest, at more than 11,500 square feet each with private pools.

What’s next

Completion is targeted for 2028, with Premier Sotheby’s International Realty leading sales. The architecture is by Randall Stofft Architects and SB Architects, with interiors by Champalimaud Design. Each home is planned with an in-residence wellness suite, theater and wine room. The developers say a 24-hour concierge and valet team will serve residents. Kolter Urban says it is also advancing 3300 Gulf Shore Boulevard in Naples and The Island at West Bay Club in Estero, so Naples is not a one-off. More coverage is on our Southwest Florida page. Renderings are courtesy of the developers.