Two beach-front mansions in Naples recently sold for record-setting prices.
Officials say one of the estates brought in $47.3 million in an all-cash deal. The other sold for $42 million. The Naples Daily News reports the sales broke a record set in 2007.
The newspaper reports sales in the Port Royal area of Naples has seen more than $160 million worth of property exchange hands since January. Premier Sotheby's International broke Philip Collins told the newspaper for sales were made for more than $10 million each.
The Daily News reports the $47 million mansion has 23,000 square feet of living space, with 275 feet of beach front space. The original asking price was $55 million. The other home has 15,800 square feet and sits on three acres.