Naples residential project tops $500 million in sales

Sales at the Ritz-Carlton Residences in Naples have topped $500 million, with 80% of the units sold. 

Stock Residences, the project’s developer, provided a year-end update last week as it prepares for residents to move in starting next year. 

Penthouse units have been especially sought-after, with five sales over the past year alone, the developer says. Naples-based Stock says the buyers looking at the development have been a mix of locals and out-of-state buyers in search of new construction along the Gulf Coast, “a segment of the market that remains exceptionally active.” 

The Ritz-Carlton Residences in Naples is a five-building complex sitting on six acres with the gulf to the west and Vanderbilt Lagoon to the north. Stock says the vertical work is complete and that Suffolk, the general contractor, and the development team are focused on exterior progress and “extensive” interior finishes. 

The Ritz-Carlton Residences will include 128 three, four and five-bedroom homes, including penthouses, starting at 3,000 square feet. The Tower Residences are priced from $6 million, the Bay Residences from $5 million, and the soon-to-be-released Park Residences will start at $4 million. 

Amenities include a 22-slip marina, a park with walking trails, a putting green and covered pavilions. It will also have The Vanderbilt Club, a 28,000-square-foot club with a Grand Owner’s atrium and lobby lounge, a private restaurant, a business center and coffee lounge, a state-of-the-art fitness center and a full-service spa.