Naples residential tower tops $300M in sales

As housing struggles, luxury market remains solid in the Collier County city.

By Louis Llovio
| 1:15 p.m. July 17, 2025
| 2 Free Articles Remaining!

Construction on Kalea Bay’s Tower 500 in Naples could be done by September.

Charlotte–Lee–Collier

Another Naples luxury tower has hit a sales milestone.

This time it's Kalea Bay’s Tower 500, which surpassed $330 million in sales. Soave Real Estate, the developer, says it's on track to sell out before construction finishes in September.

The tower is the last of the five residential high-rises that make up Kalea Bay in North Naples.

The 22-story tower is made up of 120 units with Gulf views and floor-to-ceiling window and lanais. Prices start at $3.5 million, and 66 have already sold.

The sales figure at Kalea is another reminder that while the overall real estate market may be struggling, luxury real estate in Southwest Florida remains strong.

Earlier this month the Ritz-Carlton Residences Estero Bay announced it topped $700 million in sales, and a report from real estate research firm Redfin found that the second most expensive house listed in the country — $295 million — was at 100 Bay in Naples.

And in mid-April a trio of residential waterfront properties in the city’s Port Royal neighborhood sold for $225 million.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.