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.

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

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.