Kalea Bay Tower 500 Hits $330M in Sales as Luxury Market Holds Strong

Million-Dollar Momentum

Kalea Bay’s Tower 500—a 22‑story luxury residential tower in North Naples—just crossed a major sales milestone. As of mid-July 2025, the development topped $330 million in total sales, with 66 of the 120 units already sold, putting it on pace to sell out before construction wraps in September 2025.

Specs & Specs to Know

The final building in the Kalea Bay complex, Tower 500 offers Gulf views, floor-to-ceiling windows, lanais, and ultra‑lux finishes. Prices start around $3.5 million per unit, reflecting high demand among buyers seeking premium SWFL coastal residences.

A Reflection of Market Strength

Even as broader housing markets show signs of cooling, Naples' ultra-luxury real estate is bucking the trend. Kalea Bay’s sales success follows record-breaking momentum at other high-end projects in the region:

• Ritz‑Carlton Residences Estero Bay recently surpassed $700 million in sales.

• Trio of Port Royal waterfront homes brought in $225 million in April.

Timeline: Smooth Build Ahead

Construction is progressing on schedule, with completion expected by September 2025. That leaves just a narrow window for remaining unit sales before move-ins begin. Given the strong pace, the developer—the Naples-based Soave Real Estate—expects full occupancy quickly.

Why It Matters to Naples

Luxury developments like Kalea Bay are stabilizing forces in local real estate, especially when mid-tier and starter markets slow down. High-net-worth investments bolster the area’s high-end brand, attract discretionary buyers, and support resale values across nearby neighborhoods.

This milestone also signals continued investor confidence in Naples as a year-round luxury destination.