Semi-monthly news and updates about the homes, people, businesses and communities that are featured in Lake Washington 130 Homes. This covers the Lake Washington waterfront in Seattle’s Madison Park, Denny-Blaine and Madrona neighborhoods, Mercer Island, and The Eastside communities of Bellevue, Medina, Hunts Point and Yarrow Point.
(The above home belongs to Charles Simonyi. See 5/31/11 post.)

Sunday, February 13, 2011

Bruce McCaw Sells Medina Mansion

Looking West at Groat Point
The Groat Point Estate

Bruce McCaw sold, for $15.3 million, his Medina Groat Point estate in January 2011 to to a trustee for John E. and Debbie Ellison Bacon. This was the highest priced sale of Lake Washington waterfront property in 2011. The property was listed for sale in 2009 for $34 million and dropped to $27 million in 2010. The listing agent was Terre Foster, Windermere – “The Grand Point of Medina. A landmark offered for the first time this century. Commanding 527 feet of some of the most coveted waterfront in the world, the Chateau takes its place among the great estates in the Northwest. Regal grounds split into expansive views.” The estate has 13,940 sq ft on 1.89 acres with 527 feet of waterfront, 6 bedrooms and 9 baths.
This is considered Lake Washington’s premiere lot (see earlier post) with spectacular 300° views that include downtown Bellevue, Mt. Rainier and the Olympics with the top of the Seattle skyline in the foreground. The location is minutes from downtown Bellevue.
Bruce is the oldest of four brothers who were the pioneers of cellular communications. He had been listed by Forbes as one of the wealthiest people in the world but has not been on its recent lists as a result of declining stock market values. He is now involved in large scale commercial real estate investments with his Pistol Creek Financial Co. He is also involved in auto racing as president of Bellevue-based PacWest Racing Group LLC and director of Michigan-based Championship Auto Racing Teams, Inc.
More information about the mansion and the McCaw family is in Lake Washington 130 Homes on pages 88 and 106.
John Bacon, Thomas Ellison and Ellison’s and Debbie’s father, Bill Ellison (the founder of the company), were the principal owners of Bellevue-based Savers, Inc. The company is an international chain of thrift stores and operates under the name of Value Village in the PNW. The Bacons and Thomas Ellison own a mansion about a seventh of a mile to the northeast in Meydenbauer Bay that is for sale for $8.9 million.
(Revised 2/21/13)

7 comments:

  1. The buyer completely demolished the old home. Unbelievable! Anyone know who the buyer is?

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    1. Thanks anonymous (both). This post has been updated and a new post covering the demolition was posted 2/21/12. http://seattle-mansions.blogspot.com/2013/02/medina-groat-point-demolition.html

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  2. The buyers are John & Debbie Bacon. Mrs. Bacon is the daughter of the late Bill Ellison, of "Savers" fame.

    ReplyDelete
    Replies
    1. Thanks anonymous (both). This post has been updated and a new post covering the demolition was posted 2/21/12. http://seattle-mansions.blogspot.com/2013/02/medina-groat-point-demolition.html

      Delete
  3. They own Value Village

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  4. David, thank you for your valuable contribution to our community knowledge and history. Good work! George Tamblyn - Bruce McCaw didn't get what he wanted for the house, but he just sold his vintage Ferrari for $21 million.

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  5. I worked as a painter on the mansion that was built in 86 and 87. It was a fabulous place with no expenses spared built by Roger Montgomery and designed by Vasos Demetrious. Vasos also designed and lived in the modern house across the street. IT WAS AN ABSOLUTE CRIME THAT HOUSE WAS DESTROYED. Effing nouveau riche and their endless need of greed and one upsmanship.

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