A newly built Port Royal mansion on an oversized lot has sold for a record price of $85 million. The buyers: The Hoffmanns, who are well-known in Naples for their business and real estate investments.

Trust affiliated with real estate investor Andrew L. Farkas had owned the seaside house at 516 S. Ocean Blvd. in Palm Beach since 2020, records show.

The deal comes after a banner week for Florida real estate, with multiple other big-ticket sales.

A sprawling 90-acre legacy compound on Washington 's San Juan Island boasting three luxury homes, guest cottages, sport ...