Seattle Luxury

More breaking news on the M.I. Waterfront property up for auction… $15 million is the actual reserve for this sealed bid auction, meaning that the seller is obligated to sell to the highest qualified bidder above the initial offering price. This property could indeed sell for $15 million and 1 dollar, but in my humble opinion it is a steal at anything less than $18,500,000. I’m anxious to see what happens to this magnificent property! It’s competing against some other very prime Real Estate on Lake Washington, including a well known home on the tip of Meydenbauer, and two other homes on Mercer Island – one listed at $28 million and the other (still unfinished) at $32 million. Of course, the famed vacant lot that encompasses the entire tip of Hunts Point is still available for a $19,688,000 – not too far from another Hunts Point gem currently offered at $15,800,000. There are also a handful of other listings, including one on Yarrow Point for $25 million and a pre-construction downtown penthouse offered at $15,600,000! Which is the best deal? My money, if I had that many zeros in my bank account, would probably gravitate towards Bruce McCaw’s house, offered at $26,800,000. This home has an jaw-dropping 627 feet of Medina waterfront – utilizing the entire tip of Meydenbauer with a 15,320sq’ Chateau and garages galore wrapping around the point. This home, listed by Tere Foster and Moya Skillman of Windermere, is arguably the best deal on the lake for the ultra high-end buyer, but now that the Lytle’s home is up for auction, only time will tell!

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