The Seattle-area has logged one its largest sales of the year.
At $21 million, the Bellevue mansion, has reportedly outpaced any other 2017 sales in the area.
The 11,520-square-foot, four bedroom home, called Bellalago, sold for nearly a $12 million discount last Wednesday after being first listed for $32.8 in early 2014.
— Mansion Global (@MansionGlobal) February 8, 2017
It was most recently listed for $26.8 million.
The 2.5-acre property sits on Meydenbauer Bay and offers a 265-foot private beach with a dock, swimming pool, wine cellar, screening room and European-inspired interiors with rich wood finishings. One of the only all stone homes in the area, construction materials were sourced from China and India, according to the home’s listing agent, Moya Skillman of Team Foster at AVENUE Properties.
Ms. Skillman said there are several remarkable features that led to the property garnering such a high price.
“The size of the property is extremely rare for our market,” she said. “Most waterfront properties here range from about 60 feet to 80 feet [of waterfront]. This home had 265 feet of waterfront. This home also had sweeping views of the Seattle skyline. That is also extremely rare because of our topography and where other waterfronts are located. There are only a few residential waterfront areas that actually see the Seattle skyline.”
Ms. Skillman doesn’t see the record pricing (according to Pacific Northwest MLS it’s the highest this year, the Seattle Post-Intelligencer reports) as an aberration, citing a 2012 $21.6 million sale the firm worked on for a Mercer Island home.
“To now have a second sale that has broken that $20 million level signals that the wealth in the area has not only grown, but is here to stay,” she said “As an aside, we have also seen more $10 million listings available in our area than ever before as well. With companies like Amazon, video game companies, and now space exploration companies, all in Seattle, the tech base and wealth of those executives has definitely had an impact on our market.”
The sellers of his home, a real estate executive and his wife, could not be reached for comment. They built the home in 2006 on land they purchased for $6.5 million in 2002.
The buyer has not been disclosed, but Ms. Skillman said it is a business executive local to the Seattle area.
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