The former Lytle mansion on Mercer Island sold in the June 2010 auction. My previous blogs regarding the auction are below and dated 5/24/10 and 2/20/10. The 1st auction had a minimum bid of $15 million. Several bids were submitted but each was contingent on a sale of property and all these were rejected. The 2nd auction minimum bid was $12 million without contingencies. The buyer was James “Peter” Edwards, the founder and CEO of Video Only. The Edwards family is moving from the Lakemont area of Bellevue.
Peter founded Seattle area (Tukwila) based Video Only in 1982 and it has grown to 14 stores in WA, OR and CA. The company is privately held by Edwards and his family. We bought our last TV from them and highly recommend them.
The home was featured on KING 5's Evening Magazine on April 12, 2010.