Updated September 2026
Buy a home in Falls of Portofino with McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008. Financing that works here, prices by plan from MLS sales, the club fee, the approval and buy versus rent. Call Marc at (239) 287-5873.
Updated September 2026 · By Jesse McGreevy and Marc Comisar, Domain Realty
Buying a home in The Falls of Portofino takes the right financing first: one company owns 67.5% of the 246 condominium homes, so conventional and FHA loans are not available, and buyers pay cash or use portfolio or non-warrantable condominium loans. Southwest Florida MLS sales ran $256,000 to $425,000 over the last five years, at a median of $351,000.
The Falls of Portofino is a gated community of two-story, townhouse-style condominium homes on Vanderbilt Beach Road in North Naples, inside the market covered in our Naples guide. Our complete Falls of Portofino guide covers its history, the six condominiums, the ownership records, the flood map and the schools. This page is for the buyer: how to finance, what you will pay at closing and every year after, what to read before you offer, how the association approval works, and whether buying beats renting the same home next door. Call Marc Comisar at (239) 287-5873 or Jesse McGreevy at (239) 898-6072 whenever you want to talk it through.
Data updated: September 2026 (Southwest Florida MLS Matrix, pulled September 26, 2026; 2026 preliminary Collier County roll)
Every Falls home is legally a condominium unit in a townhouse-style building, not a fee-simple townhome on its own lot. The county roll codes all 246 homes as condominium units, and the state’s Division of Condominiums registry extract lists six condominiums, No. 1 to No. 6, each with its own declaration, association and budget, all under The Falls of Portofino Master HOA, Inc. Your lender, title company and attorney will treat your purchase as a condominium purchase.
Falls Townhomes II LLC, a Prime Group affiliate, owns 166 of the 246 homes (67.5%) on the 2026 preliminary roll, including all 128 built in 2024 and 2025, and rents them through the operator. Hailang LLC owns 31 more. Companies own 216 homes (87.8%), and only 8 homes (3.3%) are homesteaded. If you buy here, you are buying into a community run mostly as a rental property, and the boards are likely elected by the largest owner.
The homes a buyer can purchase are the 118 original homes built in 2006 and 2007, and only those not held by the two largest owners come up with any regularity. None of the 128 homes built in 2024 and 2025 has ever sold to an individual. On September 26, 2026 the Southwest Florida MLS showed 4 homes for sale, at $339,900 to $365,000.
The Falls has no golf course, no marina and no beach access of its own; Vanderbilt Beach is about 16 minutes west without traffic. The clubhouse, pool and fitness center belong to a for-profit club company, not to the owners. Private pools are not allowed, and leases must run at least 90 days, so the Falls is not a nightly-rental property.
Falls of Portofino buyers work with McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008, because a Falls purchase turns on documents a listing never shows: which condominium holds the home, the unpublished assessments, the recorded Club Plan and its lien, the Resale Capital Contribution, three certificates and an association approval. We read them before you offer.
Those are career numbers across Lee and Collier County. As the leaders of Domain Realty Group, our team has closed over $2.5 billion in real estate; learn more at DomainRealtyGroup.com. If you are comparing agents across the city, our guide to the best real estate agents in Naples, compared on the public record sets the teams side by side.
In the last 12 months we tracked every Falls sale and lease in the Southwest Florida MLS: 2 closings, 44 closed leases, 4 active listings and 24 active rentals. We add all 40 Falls closings since 2009, every home on the 2026 preliminary county roll, the recorded Club Plan, the Master Declaration sections the operator publishes and the lending rules. We publish no McGreevy and Comisar buyer count for the Falls; the numbers here are the market’s.
Marc Comisar runs the buyer side: showings, gate access, the lender conversation, inspections and the association approval. Jesse McGreevy runs the pricing analysis, the document review and the contract. Reach Marc at (239) 287-5873 or Jesse at (239) 898-6072, and read more about the partnership on our about McGreevy and Comisar page.
This buyer guide runs from what it takes to buy in the Falls, through financing, the market, prices by plan, the Summit Place comparison, the steps to buy, ownership costs, the condominium documents, flood and insurance, the rules, buying against renting, our search and negotiation, closing costs, buyer representation, daily life, the consultation, reviews and the buyer FAQ.
You finance a Falls of Portofino home with cash, a portfolio loan or a non-warrantable condominium loan, because the ownership concentration puts every Falls condominium outside Fannie Mae’s 20% single-entity limit and none has FHA project approval. Line up that lender before you tour, since most conventional pre-approvals will not close here.
Data updated: September 2026 (Fannie Mae Selling Guide published September 2, 2026; HUD FHA Condominium Look-up, checked September 26, 2026; 2026 preliminary Collier County roll)
Fannie Mae treats a condominium project of 21 or more units as ineligible when a single entity owns more than 20% of the units, counting leased units, under Fannie Mae Selling Guide B4-2.1-03, Ineligible Projects. A waiver exists only on a purchase that lowers the concentration, when the entity owns no more than 49%, is marketing units for sale, is current on dues, and there is no pending special assessment.
Condominium | Buildings | Homes | Held by Falls Townhomes II LLC | Share |
|---|---|---|---|---|
No. 1 | 1 to 5 and 7 | 44 | 34 | 77.3% |
No. 2 | 6, 8, 10 and 22 to 24 | 42 | 36 | 85.7% |
No. 3 | 9 and 11 to 15 | 46 | 32 | 69.6% |
No. 4 | 16 to 21 | 46 | 16 | 34.8% |
No. 5 | 25 to 29, 31 and 35 | 42 | 26 | 61.9% |
No. 6 | 30 and 32 to 34 | 26 | 22 | 84.6% |
Source: 2026 preliminary Collier County roll. In No. 4, Hailang LLC also holds 16.
On our reading of the published rules against the roll counts, conventional conforming condominium loans are not available for resale homes in Condominiums No. 1, 2, 3, 5 and 6 and are practically unavailable in No. 4. Fannie Mae’s established-project standards add a second test: control of the association must have passed to unit owners and at least 90% of units must have been conveyed to purchasers. A lender makes the final call on any loan.
HUD’s FHA Condominium Look-up holds one record for the community, at the clubhouse address, with the status “Rejected Single-Unit Approval,” dated November 26, 2019, and none of the six condominiums has FHA project approval. HUD’s single-unit approval documentation list shows what a single-unit request needs, and the concentration makes one unlikely. VA condominium approval is a separate review; ask your lender before you count on it.
Portfolio lenders, often local banks and credit unions, keep loans on their own books and set their own condominium standards. Non-QM lenders offer non-warrantable condominium programs. Both usually ask for a larger down payment and a higher rate than a conforming loan, and both review the project’s budget, insurance and litigation. We introduce lenders who already lend on non-warrantable condominiums before you tour.
Many Falls buyers pay cash. Some plan to refinance later; that works only if a lender will lend on the project then, and nothing public says the ownership share will fall. Buy on the assumption that the financing picture stays as it is.
A generic pre-approval is not enough. Ask for a written statement from a lender that it makes non-warrantable condominium loans and will review this project. Call Marc at (239) 287-5873 for introductions, or read how we represent buyers in Southwest Florida.
The Falls of Portofino market favors buyers right now: the Southwest Florida MLS shows 2 closings in the last 12 months, 4 active listings at $339,900 to $365,000, about 24 months of supply at that pace, and 24 competing rentals. Three of the four listings have waited six months or more, which gives a prepared buyer room to negotiate.
Data updated: September 2026 (Southwest Florida MLS Matrix, Development: Falls of Portofino, pulled September 26, 2026)
A 1,890-square-foot four-bedroom on Romana Way sold for $390,000 in September 2026, after 4 days at 98.7% of its $395,000 list price. A 1,828-square-foot four-bedroom on Ambrosia Lane sold for $285,000 in April 2026, after 46 days at 96.6% of its $294,900 list price. Two sales make a range, not a median.
Street | Living area (MLS) | Bedrooms and baths | List price | Days on market, September 26, 2026 |
|---|---|---|---|---|
Ambrosia Lane | 1,890 sq ft | 4 bedrooms, 2.5 baths | $365,000 | 288 |
Romana Way | 1,828 sq ft | 4 bedrooms, 3 baths | $360,000 | 176 |
Ambrosia Lane | 1,828 sq ft | 4 bedrooms, 3 baths | $359,900 | 16 |
Ambrosia Lane | 1,828 sq ft | 4 bedrooms, 3 baths | $339,900 | 368 |
Over 60 months the Southwest Florida MLS recorded 14 Falls sales at a median of $351,000, $190.65 per square foot of living area, 98.48% of list and 40.5 days on market. The high was $425,000 in June 2024. No Falls home closed in calendar 2025.
With four listings, two sales a year and a narrow pool of buyers who can finance, a cash or pre-approved portfolio buyer is a scarce commodity. That buys you time, inspection room and price discussion, especially on the homes that have sat. It does not make every home a bargain: the September 2026 sale went under contract in 4 days because it was priced right.
On September 26, 2026 the Southwest Florida MLS showed 24 active Falls rentals asking $2,350 to $3,328 a month, and the operator advertised up to two months free on select new leases of at least 14 months on September 23, per its home page. Renting first is a real option here, and we cover the math below. Call Marc at (239) 287-5873.
Call Marc at (239) 287-5873 for lender introductions and a personalized Falls of Portofino buyer consultation, or read how we represent buyers in Southwest Florida. Own a Falls home already? Call Jesse direct at (239) 898-6072 or request a free home valuation for your Falls of Portofino home.
A Falls of Portofino home costs about $330,000 to $380,000 by plan on five years of Southwest Florida MLS sales: the original 1,890-square-foot four-bedroom sold at a median of $380,000 on 7 sales, the 1,828-square-foot Boticelli at $330,000 on 5, and the 1,679-square-foot Angelico at $327,500 and $360,000 on 2.
Data updated: September 2026 (Southwest Florida MLS Matrix, closings September 2021 to September 2026; operator floor plans)
The original builder’s four plans still carry their names. Per the operator’s plan pages, the Angelico is 3 bedrooms and 2.5 baths at 1,679 square feet; the Boticelli 4 bedrooms and 3 baths at 1,828; the Da Vinci 4 bedrooms and 2.5 baths at 1,822; and the Donatello 4 bedrooms and 2.5 baths, shown at 1,890 square feet in the original 2006 plan set and at 1,822 by the operator today. All homes are two stories.
Plan and MLS living area | Homes of that size (county roll) | Sales | Median or listed sales | Range |
|---|---|---|---|---|
Original Donatello, 1,890 sq ft | 17 | 7 | $380,000 median | $310,000 to $425,000 |
Boticelli, 1,828 sq ft | 70 | 5 | $330,000 median | $256,000 to $367,000 |
Angelico, 1,679 sq ft | 35 | 2 | $327,500 and $360,000 | listed |
Da Vinci, 1,822 sq ft | 124 | 0 | no sale since 2012 | none |
Source: Southwest Florida MLS Matrix, pulled September 26, 2026; homes by size from the 2026 preliminary Collier County roll. Every group is a small sample.
The original plan set gave the Angelico and Boticelli a one-car garage and the Da Vinci and Donatello a two-car garage, per the original Prime Home Builders sales brochure. Confirm the garage on the specific home, since the Master Declaration requires boats, trailers, RVs and commercial vehicles to be kept inside a garage.
The 2026 preliminary roll puts median just value at $268,529 for 1,679 square feet, $296,028 for 1,828, $305,122 for 1,822 and $315,390 for 1,890. Just value is a tax estimate, not a price, but it is what your first-year taxes are based on.
The 60-month MLS median is $190.65 per square foot of living area. The two 2026 sales came in at $155.91 and $206.35. Smaller plans usually sell for more per square foot, so compare plans by total price first. Call Marc at (239) 287-5873 for the sales closest to the home you like.
Buy in The Falls of Portofino if you pay cash or have a non-warrantable lender and want the most house per dollar in this part of North Naples. Buy in Summit Place if you need an ordinary mortgage, want a mostly owner-held community, or may sell within a few years: it recorded 33 qualified sales since January 2025 against the Falls’ one.
Data updated: September 2026 (2026 preliminary Collier County roll, just value; Collier County recorded qualified sales from January 1, 2025 through the September 2026 extract)
Factor | The Falls of Portofino | Summit Place in Naples |
|---|---|---|
Financing | Cash, portfolio or non-warrantable loan; no FHA project approval | Single-entity test not the obstacle; lender still reviews the project |
Qualified sales since January 1, 2025 | 1, at $285,000 ($155.9 per sq ft) | 33, median $410,000 ($210.3 per sq ft) |
Falls MLS 60-month median | $351,000 ($190.65 per sq ft) | not compared on this basis |
Median just value, 2026 preliminary roll | $305,122 ($167.5 per sq ft) | $324,444 ($171.0 per sq ft) |
Homes | 246, six condominiums, two-story townhouse-style | 410, condominium-coded on the roll |
Year built of homes you can buy | 2006 to 2007 | 2004 to 2014, median 2007 |
Median living area (roll) | 1,822 sq ft | 1,869 sq ft |
Largest owner | 67.5% | 1.0% |
Homestead share | 3.3% | 56.1% |
Fee layers | Condominium, Master HOA, recorded for-profit Club Plan ($42 a month in 2026 plus club expenses) | Not verified; read the governing documents |
Median proposed 2026 tax bill | $3,173.88 | $2,989.69 |
Millage area | 36, 10.4020 proposed mills | 36, same rate |
Sources: 2026 preliminary Collier County roll and recorded qualified sales; Fannie Mae Selling Guide B4-2.1-03; the HUD FHA Condominium Look-up. We make no claim about Summit Place’s legal form. See our Summit Place guide.
The Falls’ west side borders IslandWalk, a single-family community with its own buyer guide on buying a home in Island Walk, and buyers weighing a different part of Naples can compare our guide to buying a home in Verona Walk. Call Marc at (239) 287-5873.
The steps to buy a Falls of Portofino home are: secure cash or a non-warrantable lender, identify the condominium that holds the home, read its documents and the Club Plan, offer with an approval timeline, inspect, submit a complete association application, order the three certificates, insure with an HO-6 and close. Most purchases take six to ten weeks.
Get proof of funds or a written statement from a lender that it makes non-warrantable condominium loans and will review this project. Without it, do not tour yet.
The unit number is the building number times 100 plus the unit’s position. The building tells you the condominium: No. 1 holds Buildings 1 to 5 and 7; No. 2 holds 6, 8, 10 and 22 to 24; No. 3 holds 9 and 11 to 15; No. 4 holds 16 to 21; No. 5 holds 25 to 29, 31 and 35; No. 6 holds 30 and 32 to 34. That decides which declaration, budget and estoppel apply.
Ask for the condominium’s declaration, budget and financial statement, the Club Plan and the estoppel figures if the seller has them. The declarations open by book and page in the Collier Clerk Official Records search.
We write the offer with the financing terms, the inspection period, the association approval timeline and the certificates the seller must order. We price it from the sales of the same plan, the actives and the rent record.
Under Florida Statutes section 718.503, the seller must give you the declaration, articles, bylaws and rules, the annual financial statement and budget, the Frequently Asked Questions and Answers document and the governance form, among others. You may void the contract within 7 days, excluding weekends and legal holidays, after signing and receiving them; the right ends at closing. Read them in that window.
Inspect the unit: air conditioning, water heater, appliances, plumbing, roof leaks visible inside, windows, shutters and the garage door. Ask for a wind mitigation inspection on Form OIR-B1-1802 for your insurer.
Section 14 of the Master Declaration, as reproduced in the rules and regulations packet the operator posts, requires association approval of every sale, decided within 30 days of a complete application, with a board-set transfer fee. Submit a complete application within days of the contract.
The seller orders the condominium estoppel, the Master HOA estoppel and the club certificate. Together they state every amount owed on the home. Your closing agent pays them off at closing.
Bind an HO-6 condominium unit owner policy, and flood coverage if you want it or your lender requires it. Ask the association for its master policy certificate and wind deductible.
With cash, closing can follow approval quickly; with a portfolio or non-QM loan, the lender’s project review sets the pace. In Collier County the buyer customarily chooses the closing agent and pays the owner’s title policy. Call Marc at (239) 287-5873 to start.
You will pay four recurring costs to own a Falls of Portofino home: the condominium assessment (which carries the Master HOA assessment), the $42 monthly club fee plus a share of club expenses, property tax near $3,174 a year at the median proposed 2026 bill without homestead, and HO-6 insurance. Only the club fee and the tax are published.
Data updated: September 2026 (recorded Club Plan; 2026 preliminary Collier County roll and proposed millage; Florida Statutes 2026)
The recorded Club Falls of Portofino Club Plan, Official Records Book 4173, Page 2731, sets the Club Membership Fee at $42 a month for 2025 and 2026, $43 for 2027 and 2028, $44 for 2029 and 2030, $45 in 2031, $48 in 2032 and a $50 cap from 2033. Owners also pay a pro-rata share of club expenses, which may include the club owner’s debt service, taxes, insurance and management, plus sales tax. The current share is not published.
The club obligation is perpetual, applies whether the home is occupied, leased or destroyed, and its lien ranks ahead of the associations’ liens. The club owner and developer never pay club dues, the club owner may amend the Club Plan on its own, and dues are not reduced if the club is damaged. Only one designated member per home may use the facilities, and when a home is leased, that is the tenant.
The condominium assessment and the Master HOA assessment are not published by any public source. The condominium association collects the Master assessment with its own and remits it, under Section 10.2 of the Master Declaration. Ask for each association’s adopted budget and a current estoppel before your inspection period ends, and treat any single “HOA fee” number found online as unverified.
Falls homes are in millage area 36 at a 2026 proposed total of 10.4020 mills, with no non-ad valorem assessments. At 2026 proposed rates, a $300,000 assessed value comes to about $3,120.60 a year without homestead and about $2,695.35 with the homestead exemptions. Your first-year taxes are based on just value, because the seller’s assessment cap does not transfer. Homestead applications and deadlines are explained on the Florida Department of Revenue’s exemptions page.
Under Florida Statutes section 718.111, each condominium association insures the condominium property as originally installed; floor, wall and ceiling coverings, fixtures, appliances, water heaters, cabinets, countertops and window treatments fall to your HO-6 policy. Florida HO-6 policies must include at least $2,000 of loss-assessment coverage with a deductible of no more than $250, under section 627.714.
Recurring cost | Amount | Source |
|---|---|---|
Club Membership Fee | $42 a month in 2026 | Recorded Club Plan |
Share of club expenses, plus sales tax | Not published | Club certificate |
Condominium assessment, including the Master assessment | Not published | Estoppel and budget |
Property tax, no homestead | About $264 a month at the median proposed 2026 bill | 2026 preliminary Collier County roll |
HO-6 insurance | Carrier quote | Your insurer |
Loan payment, if financed | Depends on the non-warrantable loan terms | Your lender |
Call Marc at (239) 287-5873 and we will fill in the unpublished lines for the home you like before you offer.
Before buying a Falls of Portofino condo, read the condominium’s declaration and budget, the recorded Club Plan, the Master Declaration sections on leasing and approval, the three certificates, the state registry status, and, for a first-wave home, anything the seller discloses about drywall remediation. Florida law puts most of those in your hands within the 7-day review window.
Each condominium’s declaration was recorded in 2007 and opens by book and page at the Clerk. The budget shows reserves, insurance and the assessment. Florida requires every condominium association with 25 or more units to post its documents and budget on a website or app under section 718.111; we did not find a public association site, so we request them from management.
Read the recorded Club Plan in full: the fee schedule, the expense share, the lien priority, the one-designated-member rule, the Master HOA’s purchase option at total annual club fees capitalized at 6%, and the club owner’s right to amend. It is part of what you are buying.
The operator posts a rules packet that reproduces numbered Master Declaration sections on leasing (Section 5.23), assessments (Section 10), approval of sales and leases (Section 14) and other rules. Rely on the numbered sections; the packet also carries pages from another community, so its unnumbered boilerplate is not a reliable statement of the Falls’ rules.
Section 10.13 of the Master Declaration charges a Resale Capital Contribution on every resale after the developer’s first sale, in an amount set by board resolution that no public document states. Get the amount and who pays it in writing before your inspection period ends.
On the state registry on September 26, 2026, Condominiums No. 1, 2 and 5 showed “Delinquent” and No. 3, 4 and 6 “Recorded,” and all six had skipped the 2024 state annual fee of $4 per unit, per the DBPR annual-fee payment history. Ask management about it; it speaks to how the associations are run.
The original developer was a claimant in the federal Chinese drywall litigation, and a December 2016 filing kept 29 Falls remediation claims open, covering 28 units in eight original buildings and the clubhouse, per the MDL 2047 filing. That list does not show that any home is affected today or that others are free of it. Ask the seller, read the disclosure, and have your inspector look.
Florida’s milestone inspection and structural integrity reserve study laws reach condominium buildings of three or more habitable stories, under Florida Statutes section 553.899. Every Falls building is two stories, so neither applies, and the resale package should say so.
Section 720.401 requires a homeowners’ association disclosure summary before contract in a mandatory homeowners’ association community, but it excludes associations regulated under Chapter 718, so your condominium’s disclosure runs under section 718.503. The Master HOA is organized as a homeowners’ association; ask your closing agent or attorney whether a master-level summary is also owed. This is information, not legal advice. Call Marc at (239) 287-5873.
Check a Falls of Portofino home’s flood zone on FEMA’s map by building address: all 33 Falls building addresses are in Zone X on panel 12021C0402H, effective May 16, 2012, outside the Special Flood Hazard Area. Zone X is still a flood zone, the northern buildings sit a few meters from mapped AE and AH areas, and the community is in Evacuation Zone E.
Data updated: September 2026 (FEMA National Flood Hazard Layer and Collier County GIS, checked September 26, 2026)
Use the FEMA Flood Map Service Center with the building address. FEMA’s flood hazard layer shows Zone X at every Falls building and the clubhouse, and no Letter of Map Revision affects the community.
Two Zone AE areas around the lakes and common area and a Zone AH area along the north preserve, base flood elevation 13.5 feet NAVD88, lie in the common parcels. No home footprint overlaps them, but buildings on Venice Way, north Ambrosia Lane, the north end of Romana Way and Torino Terrace sit roughly 4 to 9 meters away. For those, ask for an Elevation Certificate or a flood determination.
Ground elevation runs about 15.2 to 16.0 feet, per the USGS elevation point query service. Hurricane Ian’s high-water mark at the Vanderbilt Beach road end, 7.8 miles west, was 11.77 feet NAVD88, per USGS high-water mark records. That is geography, not a guarantee.
Collier County places the Falls in Evacuation Zone E and outside the Coastal High Hazard Area. The Florida Building Code’s ultimate design wind speed at the site is 160 mph for Risk Category II buildings, per Collier County’s wind speed layer, which places the site in the wind-borne debris region where openings need impact glass or approved shutters under the code in force at permit.
Citizens Property Insurance’s phased flood-insurance requirement exempts policies written on a condominium unit owners form, under section 627.351. Unincorporated Collier County is a Community Rating System Class 5 community, a 25% discount on flood premiums in Special Flood Hazard Areas, per FEMA’s CRS list. Ask the association whether the building carries flood coverage.
The Master Declaration requires hurricane shutters to go up no more than 48 hours before a storm and come down within 72 hours after. If you will be away in storm season, arrange who handles them. Call Marc at (239) 287-5873.
The Falls of Portofino rules that decide most purchases are leasing (whole-home, 90-day minimum, two leases a year, association approval), pets (two, leashed), parking (boats, trailers, RVs and commercial vehicles inside a garage), no private pools, shutter timing, and fines up to $100 per violation per day. Read them before you offer.
Under the Master Declaration sections the operator reproduces, leases must be of the whole home, at least 90 days, with no more than two leases in any 12 months, and no room or transient rentals or time-sharing. Every lease and renewal needs association approval. An owner behind on assessments may not lease, and an owner gives up use of the common areas while the home is leased. Collier County’s short-term rental registration covers rentals of six months or less; the Falls’ 90-day minimum rules out nightly and weekly stays.
Two pets are allowed, leashed, with no tie-outs, under the Master Declaration. The operator’s separate renter pet policy, with weight limits and breed restrictions, applies to its tenants; as an owner, the Master Declaration governs you.
Parking is in the garage or driveway, and commercial vehicles, boats, trailers and recreational vehicles must be kept inside a garage. If you own a boat or work truck, check the garage size of the plan you are buying.
Private pools are not allowed. The association maintains lawns, irrigation, driveways and sidewalks and paints all the buildings under the Master Declaration’s maintenance sections, so exterior changes go through the association.
Shutters go up no more than 48 hours before a storm and come down within 72 hours after.
Fines run up to $100 per violation per day with no cap, under the Master Declaration. Read the rules as binding, because they are.
The clubhouse, pool and fitness center belong to Club Falls of Portofino, LLC, and owners hold a non-exclusive license to use them. Only one designated member per home may use them, the tenant when a home is leased. The fitness center is for ages 16 and up, and children under 16 use the pool only with adult supervision, under the recorded Club Plan. The club owner may open the club to non-members for fees it keeps. Call Marc at (239) 287-5873 with any rule question.
Whether to buy or rent at The Falls of Portofino depends on how long you will stay and how you pay. Falls leases closed at a median of $2,980 a month over the last year, the operator offers free months on longer leases, and a purchase at the $351,000 five-year median brings unpublished assessments, club fees, taxes and a narrow resale market.
Data updated: September 2026 (Southwest Florida MLS Matrix sales and leases, pulled September 26, 2026; operator website, observed September 23, 2026)
The Southwest Florida MLS shows 44 Falls leases closed in the 12 months to September 26, 2026 at a median of $2,980 a month, from $2,250 to $3,315; four-bedroom leases had a median of $2,980 and three-bedroom leases $2,735.50. The operator’s eBrochure advertised base rents of $2,852 to $4,631 on September 23, 2026, the higher figures for shorter terms, with up to two months free on select homes for new leases of at least 14 months.
A cash buyer at $351,000 gives up the return that cash would earn elsewhere, and pays the condominium and Master assessments (not published), the $42 monthly club fee plus a share of club expenses, property tax near $3,174 a year without homestead or less with it, and an HO-6 policy. A financed buyer pays a non-warrantable loan’s rate on top.
Buying makes more sense for a buyer who will stay several years, will file for homestead, wants to choose the finishes, or wants to rent the home out as an investor. It also makes sense when the purchase price sits well below what the same home would cost at Summit Place, which is the Falls’ main draw.
Renting makes more sense for a buyer who may move within a few years, since Falls resales are slow and the buyer pool is narrow; for a buyer who cannot secure a non-warrantable loan on good terms; or for a newcomer who wants to live in North Naples before choosing a community.
Rent a Falls home for a season, learn the community and the associations, and buy an original home when the right one comes up. The operator’s rentals include the 2024 and 2025 homes, which you cannot buy; the homes for sale are the 2006 and 2007 originals. Call Marc at (239) 287-5873 and we will model both for you.
We find you the right Falls of Portofino home by setting the financing first, then screening every listing for its condominium, plan, garage, position and history, pulling the documents before you fall for a floor plan, and watching the four actives and new listings daily. With so few homes for sale, preparation decides who gets the right one.
We start with your lender or proof of funds and your all-in monthly budget, including the unpublished assessments once we have them. A buyer with a firm budget can move the day the right home lists.
For each Falls listing we identify the building and condominium, the plan and size, the garage, the view, the distance from Vanderbilt Beach Road, whether it is vacant or leased, its prior sales, and how long it has been on the market. We tell you which facts matter for your plans.
We ask the listing agent for the estoppel figures, the budget and the Resale Capital Contribution amount before you tour a second time. A home that looks right with the wrong numbers is not the right home.
With four listings and about two sales a year, a new Falls listing is an event. We set alerts for new listings and price changes, and Marc can tour within hours.
Some owners, including entity owners and owners with tenants, prefer a quiet sale. The Domain Realty Group network hears about some of those before they list, and we ask. Call Marc at (239) 287-5873, or read how we represent buyers in Southwest Florida.
We negotiate for you in The Falls of Portofino from the sales of the same plan, the time each listing has sat, the rent record and the financing reality: a buyer who can close with cash or a non-warrantable loan is scarce, and we use that. We also write the approval timeline and the certificates into the contract so your closing does not slip.
We show you the 60-month sales of the plan you are buying, adjusted for date and condition, and the four actives with their days on market. Three of the four active listings on September 26, 2026 had waited 176 to 368 days, and a seller who has waited that long often listens.
Most Falls buyers cannot get a conventional loan. If you can close with cash or a committed non-warrantable lender, that certainty is worth money to a seller. We present it that way.
We separate unit items, which the seller may fix or credit, from association items, which belong to the association. We ask for credits rather than repairs when that suits you better.
The Resale Capital Contribution, the approval fee and the club certificate cost are written into the contract with who pays each. The assessments and any special assessment come from the estoppels before the inspection period ends.
The contract allows the full 30 days for association approval and says what happens if approval is delayed or denied, and your deposit is protected accordingly. Call Marc at (239) 287-5873.
Buyer closing costs in The Falls of Portofino typically include the owner’s title policy (a Collier County custom), the closing agent’s fees, deed recording, any lender costs, prorated assessments and club fees, and, depending on the contract, the Resale Capital Contribution and the association’s approval fee. Cash buyers avoid the loan items.
Data updated: September 2026 (Florida Statutes and rules, 2026)
Florida’s owner’s title insurance premium is set by the state under Florida Administrative Code rule 69O-186.003, so it is the same at every title company for the same coverage. In Collier County the buyer customarily selects the closing agent and pays the owner’s policy; the contract controls.
A financed buyer pays the lender’s fees, the lender’s title policy, and Florida’s documentary stamp tax on the note and intangible tax on the mortgage, described on the Florida Department of Revenue’s documentary stamp tax page. A non-warrantable condominium loan may carry additional project review fees.
Depending on the contract: the Resale Capital Contribution under Section 10.13 of the Master Declaration, set by board resolution; the approval fee under Section 14, capped at $150 per applicant where the documents allow one under section 718.112; and prorated assessments and club dues. The seller customarily pays for the estoppels, which section 718.116 caps.
Florida property taxes are paid in arrears, so at a closing before November the seller credits you for the seller’s days of ownership, and you pay the full bill when it arrives.
We prepare a buyer’s cost estimate for the home you choose before you offer. Call Marc at (239) 287-5873.
Buyer representation after the NAR settlement works through a written agreement you sign with your agent before touring, stating the services and the compensation, which is negotiable. Offers of compensation to buyer agents no longer appear on the MLS; a Falls of Portofino seller may still agree to pay part or all of it, and we ask.
Since the National Association of REALTORS practice changes of August 17, 2024, buyers working with an agent sign a written agreement before touring a home, per NAR’s guide to written buyer agreements. It states what the agent will do and how the agent is paid.
Compensation is negotiable and is not advertised on the MLS, per NAR’s settlement FAQs. It may be paid by you, by the seller as part of the contract, or by a combination. We explain the options before you sign.
Financing introductions for non-warrantable condominiums, document review, the plan-by-plan pricing analysis, negotiation, the approval application, and a closing file that includes all three certificates. Call Marc at (239) 287-5873.
A Falls of Portofino address comes with zoned A-rated public schools (Vineyards Elementary, Oakridge Middle and Barron Collier High), a 24-hour emergency department about 6 minutes away, Publix about 5 minutes away, I-75 about 9 minutes and Vanderbilt Beach about 16 minutes west without traffic, and the new Vanderbilt Beach Road Extension half a mile east.
Data updated: September 2026 (Collier County Public Schools, released July 1, 2026; drive times modeled free-flow from 7047 Ambrosia Lane)
Collier County Public Schools zones every Falls address to Vineyards Elementary, Oakridge Middle and Barron Collier High for both the 2025-26 and 2026-27 lookups, and all three earned an A every year from 2021-22 through 2025-26, per the district’s 2026 accountability brief. Mason Classical Academy, a tuition-free public charter admitting by lottery, has a campus directly across Vanderbilt Beach Road, per Mason Classical Academy. Confirm zoning for the specific address with the district’s school-zone lookup.
The nearest emergency room is NCH’s Northeast emergency department at 15420 Collier Boulevard, open 24 hours, about 2.9 miles and 6 minutes away. Physicians Regional Medical Center on Pine Ridge Road is about 10 minutes and NCH North Naples Hospital about 15 minutes, without traffic.
Without traffic: Publix at The Shoppes at Pebblebrooke about 5 minutes, I-75 at Exit 111 about 9 minutes, Mercato about 13 minutes, Vanderbilt Beach Park about 16 minutes, Naples Airport about 20 minutes and Southwest Florida International about 33 minutes. Peak-season times from January to April run longer.
The Vanderbilt Beach Road Extension opened June 12, 2026, running about 7 miles east from Collier Boulevard to 16th Street NE. A county signal at the Falls’ entrance at Pristine Drive is listed as under construction, and WINK News reported school pickup lines backing up on Vanderbilt Beach Road after Mason Classical Academy’s campus opened, in “Neighbors, parents frustrated as Vanderbilt Beach Road traffic piles up” (August 11, 2026).
Fire protection is Greater Naples Fire Rescue District, with Station 73 about a mile away by road; electricity is Florida Power & Light; and water and sewer come from the county utility. Our Collier County parks guide and Naples beach parking guide cover the rest of daily life. Call Marc at (239) 287-5873.
You get a personalized Falls of Portofino buyer consultation by calling Marc Comisar at (239) 287-5873 or Jesse McGreevy at (239) 898-6072. In one conversation we cover financing that works here, the homes for sale and coming up, the fee layers, the approval and whether buying beats renting for you. There is no cost and no obligation.
Your budget and financing, including lender introductions for non-warrantable condominiums; the four active listings and any new ones; the sales of the plan you want; the documents we will pull; the three certificates and the approval; your all-in monthly cost; and the rent-versus-buy comparison for your timeline.
Call Marc Comisar at (239) 287-5873 or Jesse McGreevy at (239) 898-6072, email [email protected], or visit the office at 24031 S Tamiami Trl #101, Bonita Springs, FL 34134. McGreevy and Comisar have been Top 1% Real Estate Agents Nationally Since 2008, and the first conversation costs nothing. Read more about how we represent buyers in Southwest Florida.
Jesse McGreevy (Sales Associate) and Marc Comisar (Broker Associate) are licensed Florida REALTORS with Domain Realty; Florida real estate licensure is regulated by the Florida Real Estate Commission (FREC).
Marc can tour homes for you by video, and most documents sign electronically. Many Falls buyers are relocating or buying as investors from elsewhere.
Jesse McGreevy is a top-reviewed Falls of Portofino buyer’s agent, and the quotes below are five-star client reviews from the McGreevy and Comisar Google profile, reproduced in each reviewer’s own words. We publish no aggregate score and no star-rating widget. Read the full set on the McGreevy and Comisar Google reviews profile.
★★★★★ “Marc is extremely knowledgeable, professional and a true pleasure to work with. He kept us informed throughout the process and went over and beyond our expectations to ensure an extremely smooth process.” Verified Google review
★★★★★ “Marc’s knowledge of the Southwest Florida real estate market is unmatched. He took the time to understand exactly what I was looking for in a home and quickly identified properties that checked all my boxes.” Verified Google review
With four Falls homes for sale at a time, identifying the right one quickly matters.
★★★★★ “Marc knows the market, works for his buyer and is attentive to his goals.” Verified Google review
A Falls of Portofino specialist matters because a Falls purchase fails on details a general agent can miss: a conventional pre-approval that cannot close, an unread Club Plan, a Resale Capital Contribution discovered at closing, a missed approval deadline, or a price set from Summit Place’s median instead of the Falls’ own sales.
Marc Comisar is a licensed Florida REALTOR and Broker Associate with Domain Realty and one half of McGreevy and Comisar, Top 1% Real Estate Agents Nationally Since 2008. He runs showings, lender introductions, inspections and the approval application. Reach him at (239) 287-5873 and read his Marc Comisar agent page.
Jesse McGreevy is a licensed Florida REALTOR and Sales Associate with Domain Realty and the other half of McGreevy and Comisar. He started in Southwest Florida real estate in October 2004 and launched his own team in October 2008. He runs the pricing analysis, the document review and the contract. Reach him at (239) 898-6072 and read his Jesse McGreevy agent page.
Calling the home a townhome, relying on a generic pre-approval, missing the club lien and its expense share, ordering one estoppel instead of three, leaving the 30-day approval out of the timeline, or pricing from the county roll. Each one costs a buyer time or money.
Buyers comparing communities can read our guides to buying a home in Glen Eagle and buying a home in Island Walk. If you already own a Falls home, see our guides to selling a home in The Falls of Portofino and the free home valuation for your Falls of Portofino home.
These are the questions buyers ask before they buy in The Falls of Portofino, each answered in a single paragraph from the Southwest Florida MLS, Collier County’s records, the recorded Club Plan, Florida law and the lending rules. Nothing here is legal, tax or lending advice; confirm anything that affects your purchase with your attorney, CPA or lender.
Secure cash or a non-warrantable condominium lender first, identify which of the six condominiums holds the home, read its documents and the Club Plan, offer with an approval timeline, inspect, submit a complete association application, and close once the three certificates are in. Call Marc Comisar at (239) 287-5873.
One who starts with financing, reads the Club Plan and the condominium documents before you offer, and prices from the Falls’ own sales by plan. McGreevy and Comisar have been Top 1% Real Estate Agents Nationally Since 2008 and the #1 Team in Southwest Florida since 2012; compare the field in our guide to the best real estate agents in Naples.
Almost certainly not a conforming one. Falls Townhomes II LLC owns 34.8% to 85.7% of each condominium, above Fannie Mae’s 20% single-entity limit. Plan on cash, a portfolio lender or a non-warrantable condominium loan; a lender makes the final call.
No FHA project approval exists for any of the six condominiums, and HUD’s database holds only a rejected single-unit approval dated November 26, 2019.
A condominium loan that does not meet Fannie Mae or Freddie Mac project standards, offered by portfolio and non-QM lenders. It usually needs a larger down payment and a higher rate than a conforming loan.
Over the 60 months to September 26, 2026, 14 Falls homes sold through the Southwest Florida MLS at a median of $351,000, from $256,000 to $425,000. The two sales of the last 12 months were $390,000 and $285,000.
Four on September 26, 2026, at $339,900 to $365,000, all four-bedroom homes of 1,828 or 1,890 square feet. Three had been listed 176 to 368 days.
Legally a condominium: every home is a condominium unit in a two-story townhouse-style building, in one of six registered condominiums.
246 homes in 35 buildings: 118 built in 2006 and 2007 and 128 built in 2024 and 2025, across six condominiums of 44, 42, 46, 46, 42 and 26 homes.
Not on the open market today. All 128 belong to Falls Townhomes II LLC and are rented, and none has ever sold to an individual. The homes for sale are the 2006 and 2007 originals.
Falls Townhomes II LLC, a Prime Group affiliate, owns 166 of 246 (67.5%). Hailang LLC owns 31. Companies own 87.8%, and 3.3% are homesteaded.
With per-unit voting, the Florida default, the largest owner can likely elect the board on its own in Condominiums No. 1, 2, 3, 5 and 6, on our reading of the roll counts; the declarations state the voting terms.
There is no single HOA fee. You pay a condominium assessment that carries the Master HOA assessment, which is not published, plus a recorded club fee of $42 a month in 2026 and a share of club expenses. The estoppels and budgets state the current figures.
A for-profit company that owns the clubhouse, pool and fitness center and charges every home a recorded club fee under a Club Plan. Its lien ranks ahead of the associations’, and the obligation is perpetual.
The recorded schedule is $42 a month for 2025 and 2026, $43 for 2027 and 2028, $44 for 2029 and 2030, $45 in 2031, $48 in 2032 and a $50 cap from 2033, plus an uncapped share of club expenses.
The operator advertises a resort-style pool and sundeck, a clubhouse with kitchen, dining and lounge area and a billiards game room, a fitness center, a BBQ and picnic area and a gated entry. The club company owns them; one designated member per home may use them.
No golf course and no private beach access. Vanderbilt Beach Park is about 16 minutes west without traffic.
A charge on every resale after the developer’s first sale under Section 10.13 of the Master Declaration, in an amount set by board resolution that no public document states. Get the amount and who pays it in writing before your inspection period ends.
Yes. Every sale, lease, renewal and gift needs association approval under Section 14 of the Master Declaration, decided within 30 days of a complete application, with a board-set transfer fee.
Usually six to ten weeks from contract, driven by the 30-day approval and, if financed, the lender’s project review.
Under section 718.503, the declaration, articles, bylaws and rules, the annual financial statement and budget, the Frequently Asked Questions and Answers document and the governance form, among others. You may void within 7 days, excluding weekends and legal holidays, after signing and receiving them; the right ends at closing.
Not to your condominium association, which is regulated under Chapter 718; its disclosure runs under section 718.503. Ask your closing agent or attorney whether a master-level summary is also owed for the Master HOA. This is information, not legal advice.
No. They reach condominium buildings of three or more habitable stories, and every Falls building is two stories. The structural integrity reserve study requirement uses the same threshold.
The original developer was a claimant in the federal drywall litigation, and a December 2016 filing kept 29 Falls remediation claims open, covering 28 units in eight original buildings and the clubhouse. That list does not show any home is affected today. Ask the seller and have your inspector look.
The median proposed 2026 bill is $3,173.88, in millage area 36 at 10.4020 proposed mills. A $300,000 assessed value comes to about $3,120.60 a year without homestead and about $2,695.35 with it.
Not necessarily. Your first-year taxes are based on just value, because the seller’s assessment cap does not transfer. Most Falls sellers have no homestead, so the difference may be small.
Yes, if the home is your permanent residence on January 1 and you apply by the county’s deadline. It lowers the taxable value and caps future increases.
Every building address is in FEMA Zone X on panel 12021C0402H, outside the Special Flood Hazard Area. Zone X is still a flood zone, and the northern buildings sit a few meters from mapped AE and AH areas.
A lender decides per building, and many owners buy it anyway. Citizens’ phased flood requirement exempts condominium unit owner policies. Ask whether the association carries flood coverage on the building.
Collier County Evacuation Zone E, and outside the Coastal High Hazard Area.
An HO-6 condominium unit owner policy covering your interior finishes, fixtures and belongings, with at least $2,000 of loss-assessment coverage under Florida law.
Yes, within the rules: whole-home leases of at least 90 days, no more than two in any 12 months, and association approval of every lease. No nightly or weekly rentals.
Falls leases closed at a median of $2,980 a month over 12 months, from $2,250 to $3,315, with 24 active rentals asking $2,350 to $3,328 on September 26, 2026. You would compete with the operator’s rentals and lease specials.
It can make sense. The operator rents the newer homes, and a season as a tenant shows you the associations and the community before you buy an original home.
Two, leashed, with no tie-outs, under the Master Declaration.
Only inside your garage. Boats, trailers, RVs and commercial vehicles must be garaged under the Master Declaration.
No. Private pools are not allowed.
Vineyards Elementary, Oakridge Middle and Barron Collier High, all A-rated every year from 2021-22 through 2025-26. Mason Classical Academy, a public charter admitting by lottery, is across Vanderbilt Beach Road.
The Falls is cheaper per square foot and has newer construction in half its buildings, but needs cash or a non-warrantable loan and resells slowly. Summit Place has ordinary financing and 33 qualified sales since January 2025 at a median of $410,000.
It depends on your price, your financing and your hold period. Gross rent at the median lease is about 10.2% of the $351,000 five-year median price before costs, but assessments are unpublished, the operator competes for tenants and resale is slow. We model it for the home you choose.
Buyer compensation is negotiable and set in a written agreement you sign before touring. It may be paid by you, by the seller as part of the contract, or both.
Call Marc Comisar at (239) 287-5873 or Jesse McGreevy at (239) 898-6072 for a free buyer consultation. Bring your budget and your financing plan.
Every figure on this Falls of Portofino buyer guide traces to a primary source below, as of September 26, 2026: the Southwest Florida MLS, Collier County’s roll, records and GIS, the recorded Club Plan and the Master Declaration sections the operator publishes, Florida Statutes and state agencies, Fannie Mae, HUD and FEMA. No listing portal or competing brokerage is cited. Southwest Florida MLS figures come from a member-only system and are cited in the text with their pull date.
Market data, county records and taxes
Governance, condominium registry and corporate records
Florida Statutes and rules
Lending
Brokerage practice
Flood, storm and wind
Location, schools, roads and services
Operator publications (interested party) and news
McGreevy and Comisar
Every row below links the authority that publishes or holds the document, so a Falls of Portofino buyer sees the official, current version rather than a copy. Recorded documents open through the Clerk’s Official Records search by book and page. We host nothing ourselves.
Document | What it proves | Official authority |
|---|---|---|
Declaration of Condominium, Falls of Portofino Condominium No. 1 (Official Records Book 4173, Page 3422) | The governing document for Buildings 1 to 5 and 7 | Collier Clerk Official Records search for Declaration of Condominium No. 1 |
Declarations of Condominium No. 2 to No. 6 (Book 4268 Page 2802; Book 4255 Page 1447; Book 4228 Page 2819; Book 4187 Pages 3473 and 3561) | The governing documents for the other five condominiums | Collier Clerk Official Records search for Declarations No. 2 to No. 6 |
Club Falls of Portofino Club Plan (Book 4173, Page 2731) | Club fee schedule to the $50 cap, lien priority, one designated member, purchase option | |
Master Declaration excerpts, Rules and Regulations packet | Leasing limits, approval of every sale, Resale Capital Contribution, estoppel requirement | |
DBPR condominium registry extract | The six registered condominiums and their filing status | |
HUD FHA condominium record | No FHA project approval; single-unit approval rejected November 26, 2019 | |
Fannie Mae Selling Guide B4-2.1-03 | The 20% single-entity ownership limit | |
FEMA FIRM panel 12021C0402H | Zone X at every Falls building address, effective May 16, 2012 | |
Florida Statutes 718.503 | The condominium resale document package and the 7-day right to void | |
Florida Statutes 718.116 | The condominium estoppel certificate and its fee caps | |
Florida Statutes 201.02 | The $0.70 per $100 documentary stamp tax on the deed, customarily the seller’s cost | |
Florida Statutes 689.302 | The seller’s flood disclosure form | |
Department of Revenue property tax exemptions | The homestead exemption a buyer can file for | |
Form OIR-B1-1802 | The wind mitigation inspection your buyer’s insurer reads | |
MDL 2047 Doc. 20609 | The 2016 list of open drywall remediation claims |
Three records that matter here are not public and cannot be linked: each condominium association’s budget and current assessment and the Master HOA assessment, which appear on the estoppel certificates; the club’s share of club expenses, which appears on the club certificate; and the board resolution setting the Resale Capital Contribution.
You reach the Falls of Portofino buyer team by calling Marc Comisar at (239) 287-5873 or Jesse McGreevy at (239) 898-6072, or by asking for a buyer consultation online. McGreevy and Comisar work from an office at 24031 S Tamiami Trl #101, Bonita Springs, FL 34134, and The Falls of Portofino is part of the North Naples market they work every week.
If you are thinking, “I want to buy a home in The Falls of Portofino, Florida, and I need someone who knows how the financing, the club and the approval work,” McGreevy and Comisar helps buyers search, evaluate, negotiate and close with a local strategy built for Naples, Estero, Bonita Springs, Fort Myers, Collier County, Lee County and Babcock Ranch. Start with a personalized Falls of Portofino buyer consultation or read how we represent buyers in Southwest Florida. McGreevy and Comisar have been Top 1% Real Estate Agents Nationally Since 2008.
Marc Comisar: (239) 287-5873. Jesse McGreevy: (239) 898-6072, [email protected]. Office: 24031 S Tamiami Trl #101, Bonita Springs, FL 34134. Already own a Falls home? Read our guide to selling a home in The Falls of Portofino or request a free home valuation for your Falls of Portofino home.
Jesse McGreevy (Sales Associate) and Marc Comisar (Broker Associate) are licensed Florida REALTORS with Domain Realty; Florida real estate licensure is regulated by the Florida Real Estate Commission (FREC).
McGreevy and Comisar lead Domain Realty Group, a full-service Southwest Florida real estate team; learn more at DomainRealtyGroup.com. Nothing on this page is legal, tax, lending or insurance advice.
Market data from Southwest Florida MLS, pulled September 26, 2026. Brokered by Domain Realty.