Lower Matecumbe Key


Naples mansion listed for record $68 million; owner headed to the clink

By June Fletcher

Just north of Gov. Rick Scott’s mansion, the most expensive home ever listed in Naples has gone on the market for a record-setting $68 million — as its owner heads to jail for tax evasion.

The 16,000-square-foot waterfront mansion at 3100 Gordon Drive is owned by a trust for industrialist Randal Bellestri. He bought it for cash in 2012 for $47.3 million, still the top price ever paid for a Naples home.

Another 11,000-square-foot Naples home owned by Bellestri’s trust at 1231 Galleon Drive is also on the market for $10.5 million.

Bill Earls, who is listing both properties, said they both have attracted buyer interest. But he expects that it may take some time to sell the $68 million property.

“It’s in very rarefied territory,” said Earls. “You don’t expect to sell a Rembrandt in a week.”

Bellestri was sentenced Tuesday to one year and one day in federal prison, plus a year of supervised release, in a U.S. District Court in Michigan. His crime was failing to report millions in income derived from the sale of scrap metal in a scheme he concocted with his co-defendant, Paul Michajlyszyn.

Bellestri is the former owner of Odyssey Industries in Lake Orion, Michigan, which manufactures machine tools for the production of parts for the aviation industry. Michajlyszyn was the company’s vice president.

The two conspired to sell leftover scrap metal from the company’s manufacturing for cash, which they shared and concealed from both Odyssey and the IRS, between January 2004 and July 2008.

Bellestri eventually pocketed more than $2 million from the scheme, and Michajlyszn more than $270,000. Together, their unreported income resulted in a $740,348 tax loss to the federal government, court records say.

In 2008, Bellestri sold Odyssey and another company to Hampson Industries, a British-based company, for $314 million. He stayed on as an Odyssey executive until 2009.

But in December 2010, Hampton filed suit against Bellestri for “self-dealing transactions,” including misappropriating money from the sale of scrap metal; it settled out-of-court for $2.6 million.

The government also pursued the two conspirators, and on June 9, Bellestri pleaded guilty to one count each of filing false tax returns and conspiring to file false tax returns with the Internal Revenue Service.

Michajlyszyn also has pleaded guilty to one count of filing false tax returns, and will be sentenced on Thursday.

Court records show Bellestri has repaid the government for its tax loss on the money both he and Michajlyszyn received, and had also has agreed to pay an additional $500,000 in fines.

Neither Bellestri nor his attorney could be reached for comment.

Bellestri’s home at 3100 Gordon Drive was listed on Monday, according to real estate listing website Zillow.

With five bedrooms and six baths, the Island Colonial-style home sits on more than 4 acres, with 277 feet of Gulf frontage. Built in 2009, it has a seven-car garage, retractable motorized glass walls and a 66-foot long pool.

Purchased for a headline-grabbing $47.3 million in March 2012, it sold for about $10 million more than any other house ever sold in Naples.

Bellestri quietly bought his Port Royal home at 1231 Galleon Drive for $9.4 million the same month a year later.

Built in 2003, the six-bedroom, 11-bath home has marble floors, a pool and spa with a waterfall, a three-car garage and two boat lifts.

The Galleon Drive home has been on the market for 410 days, and had its price cut by more than $1.4 million in August, according to Zillow.

The next highest-priced property in the Naples area — James McCready’s mansion at 1832 Galleon Drive — has a considerably lower price tag of $49 million.

But Naples broker Mike Hughes wasn’t shocked by the eye-popping price-tag for the Gordon Drive property, and wouldn’t be shocked if it sold for another record-setting price.

“It seems like the upper ceiling for properties in this area keeps getting raised all the time,” he said.

About June Fletcher

June Fletcher is a business reporter and editor with a focus on the economy, finance, banking, wealth management and residential real estate. She produces the Minding Your Money web video series that appears in the Business section. Her Executive Suite column, which profiles business leaders in the community, appears Mondays.

·  ·         june.fletcher@naplesnews.com
·         239-263-4775


In November 2017, RDB Industries, Inc., owned by Randal Bellestri of Naples Florida, purchased the Parmalee property for $13,830.  Below is a story from the Naples Daily News posted September 22, 2014.