Welcome to 529 Neapolitan Way, a newly constructed residence by
Borelli Luxury Homes centered around gathering, hosting and coastal
living in beautiful Park Shore. Even better, this residence exceeds
current FEMA requirements, situated at an impressive 12-foot
elevation. Offered furnished, this home is curated for immediate
enjoyment, where natural light filters through expansive living
areas, drawing attention to the central gathering spaces where
conversation and connection take shape. The kitchen is designed as
a functional workspace and a visual anchor, featuring
waterfall-edge quartzite surfaces, warm oak cabinetry with metal
and glass accents, and a full suite of Wolf and Sub-Zero
appliances, including gas cooking. A dual-zone wine refrigerator
and additional refrigeration drawers are seamlessly integrated,
allowing for effortless hosting. Nearby, the living room is framed
by a gas fireplace feature wall, while a glass-front,
climate-controlled wine vault creates a striking focal point that
invites discussion and display. The first-floor primary suite
offers a private retreat that reflects the experience of a
five-star hotel. The bedroom includes a dedicated sitting area,
elevated ceiling heights and abundant natural light. The expansive
en-suite bath is beautifully finished with refined materials and a
layout designed for daily comfort, complemented by two custom
walk-in closets that provide scale and organization. Guest
accommodations are arranged to provide comfort and privacy across
two levels. Two guest suites are positioned on the main floor,
while the second level introduces an additional layer of livability
with two more suites and a spacious social room. Complete with a
wet bar and access to a balcony, this upper-level retreat offers a
secondary gathering space that transitions easily to the whims of
its guests. Outdoor living extends the narrative of the home, where
the covered lanai becomes a natural extension of the interior. A
gas fireplace and full summer kitchen set the stage for open-air
dining and conversation, while the large pool and spa are framed by
a landscaped backdrop designed to enhance privacy. Positioned
within Park Shore, this residence includes access to the private
beach park and is near the waterfront shops and dining of Venetian
Village. For those seeking a boating lifestyle, eligibility for
boat slip ownership or lease at the Park Shore Yacht Club offers an
additional layer of access to the Gulf. A three-car garage, private
elevator and full-home generator complete the offering. This
residence presents a cohesive living experience, where
architecture, design and location come together to support a
lifestyle defined by connection, comfort and coastal access.
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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