A prominent Naples resident, developer and entrepreneur isn’t just buying one condo at the new Naples Beach Club.
He’s investing in a second.
On June 1, Gulf Coast International Properties in Naples announced a “milestone sale” to Phil McCabe, the first buyer to close on a condo residence at the upscale mixed-use development, which has been years in the making.
The price: More than $20 million, according to MLS (Multiple Listing Service) statistics.
Next week, McCabe will close on a second condo in an entirely different building, which he plans to immediately turn back over as a rental for the Four Seasons Resort.
The 216-room resort is a central part of Naples Beach Club.
In Building E, across the street from the newly minted resort, McCabe confirmed that he has a contract to purchase a three-bedroom condo, with 3½ bathrooms, on the fifth floor for about $7.25 million, including the finishings and furnishings.
The Naples Beach Club replaced the landmark Naples Beach Hotel & Golf Club, 801 Gulf Shore Blvd. N. The hotel closed in May 2021 and later came tumbling down, paving the way for redevelopment on a 125-acre coastal property.
Taking advantage of preconstruction pricing, McCabe signed the contracts for both condos at the same time, more than five years ago, he said.
The investment condo spans about 2,900 square feet, while his new residence stretches more than 9,000 square feet.
‘They sold very quickly’
In Building E, the first three floors are part of the Four Seasons, including more rooms and amenities. On the fourth, fifth and sixth floors, there are 12 condominiums, six of which are “flex units” that can be used as nightly rentals, including his own, McCabe said.
“I might add the attraction of these six units is that I can stay there myself, if I want. I mean, I can actually live there if I want,” he said.
Owners can live in those condos for six months and a day, but he doesn’t plan to, as he’ll already be living steps away on the beach. He said he doesn’t know who else invested in the condos with the rental option.
“They sold very quickly, way back when,” McCabe said.
The condo has views of both the golf course and the Gulf. It was finished at the same level as the Four Seasons Resort, built to five-star standards, McCabe said.
“They really did a great job on it, on the design of it,” he said. “It’s a very, very special unit. Actually, I’m very happy with the way it ended up.”
As for his new residence, McCabe said he’s still working on finishing it out with his design team, and he doesn’t expect to move in until late July. It has five bedrooms and seven bathrooms, with its own three-car garage and pool.
‘Many, many, many billionaires’
In addition to the pool, the residence has its own hot tub and cold plunge, with decking and a Zen garden outside.
He’s anxious to learn more about his neighbors. He hinted that he knows something about a few of them, but he didn’t want to share any names publicly, out of respect for their privacy.
There are just 58 beachfront residences in three mid-rise buildings neighboring the Four Seasons Resort.
“There is going to be many, many, many billionaires in those 58 units,” McCabe said.
He said he knows some of his neighbors will relocate from other parts of Naples, including Port Royal, recognized as one of the most exclusive super-luxury waterfront neighborhoods in America.
“There are some Port Royal types that are moving up there. They want a condominium, versus a home,” to make life easier, McCabe said.
Living in the upscale development offers a premium Four Seasons-managed and inspired lifestyle.
Amenities for residents include multiple Gulf-view pools and a state-of-the-art fitness center.
Beachside, poolside dining
Residents will also have easy access to the golf course and a two-level luxury spa, along with other dining and entertainment offerings open to hotel guests and the public.
The community includes a private residents’ club with beachside and poolside dining, a tennis center with six Har-Tru courts, and gathering spots designed for relaxation and social connection.
The development’s Market Square is open to all, offering more dining and entertainment options.
McCabe doesn’t anticipate that many of his neighbors will be primary residents like himself. Some, he said, will likely own three or more homes around the country, or maybe even around the world.
“I know some of the buyers, and I can tell you they are the big dogs,” McCabe said. “That’s all I can tell you is they are the big dogs of the world.”
Only a few of the beachfront residences remain available for sale from the developer, he said, and they’re priced at anywhere from $45 million to $100 million (for a large penthouse).
In addition to those sales, McCabe said the development is likely to see other big ones as resales hit the market, with some of the initial buyers deciding not to move in “for whatever reason.”
“Over five years, things change. Divorce, death, a new job, whatever,” he said.
He helped develop downtown Naples
McCabe is a long-time resident of Naples. He moved to Naples from the coast of Maine in 1984, after selling his substantial hotel and real estate holdings there.
One of the visionaries behind the revitalization of Fifth Avenue South in downtown Naples, McCabe sold his remaining commercial property on the street in September 2025.
Over the years, McCabe developed and owned many landmark properties downtown, including the iconic Inn on Fifth, which he built and operated for more than 25 years, along with the Club Level Suites at Inn on Fifth that came later.
He’s the largest property owner in Kennebunkport, Maine, where he has a sprawling estate and more than 60 acres. His estate is next to a compound owned by the famous Bush family (the same one that produced two U.S. presidents).
In anticipation of his move to Naples Beach Club, McCabe said he sold his former residence in Naples about a year and half ago.
“I’ve been a wandering nomad since,” he said.
McCabe put down deposits at Naples Beach Club in January 2021. Construction on the residences began in 2022, not long after the Naples Beach Hotel was demolished.
Laura Layden is a senior business and government reporter. Reach her by email at laura.layden@naplesnews.com.
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This article originally appeared on Naples Daily News: Who are the ‘big dogs’ moving into Naples Beach Club
Reporting by Laura Layden, Fort Myers News-Press & Naples Daily News / Naples Daily News
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By Laura Layden, Fort Myers News-Press & Naples Daily News | USA TODAY Network
