$12.5M Naples condo sale bests building record by nearly 80%

A beachfront condo in Naples has been sold for $12.5 million — nearly double what was the previous highest sale in the building.

The residence is in the Brighton at Bay Colony building, with an address of 8231 Bay Colony Dr., unit 2101. The closing was announced by the listing brokers, the Manring Brothers — Eric and Tyler — of Compass Florida. The previous top sale in the building, according to the statement, was in the $7 million range.  The $12.5 million price also marks the second-highest price ever paid for a condo in the Bay Colony area, which consists of six beachfront buildings and has posted more than 500 transactions since the buildings were constructed in the early 1990s.

The sale had not been logged into Collier County as of Aug. 20 for information about the buyer. The 6,164-square-foot condo with four bedrooms and five and half baths, records show, had been owned by the George L. Chapman Revocable Trust since 2010. George L. Chapman was a CEO and founder of several real estate investment trusts, mostly in senior living, according to his obituary; he died in 2023 at 75. Chapman and his family were also noted philanthropists, both in Naples and his native Ohio, the obituary states.