Medina – Groat Point Demolition

 Looking West at Groat Point in 2010

The Groat Point Estate in 2011

The Groat Point Estate in late 2012

Bruce McCaw sold, for $15.3 million, his Medina Groat Point estate in January 2011 (Seattle Mansions 2/13/11 post) to a trustee for John E. and Debbie Ellison Bacon. This was the highest priced sale of Lake Washington waterfront property in 2011. The Bacon’s demolished the buildings in 2012 and are scheduled to submit plans for new buildings later this year.

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 had 13,940 sq ft on 1.89 acres with 527 feet of waterfront, 6 bedrooms and 9 baths.

This is considered one of Lake Washington’s premiere lots 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. Bruce and his wife, Jolene, moved into Craig McCaw’s Hunts Point Castle and hosted a fund raiser for Paul Ryan in 2012 (2/13/13 post).

John E. and Debbie Ellison Bacon established the multimillion dollar Bacon Family Foundation that supports local children and family organizations. John, 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. In 2000 Bill Ellison and Bacon sold their interest to Boston based Berkshire Partners LLC for $45 million. 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 (post in LW Cruising).

More information about the prior mansion and Bruce McCaw is in Lake Washington 130 Homes on pages 88 and 106.

Paul Ryan at McCaw Family’s Hunts Point Compound

Vice Presidential Candidate Paul Ryan attended fund raisers in Hunts Point and Medina on September 10, 2012. The $1,000 per person afternoon reception was at the McCaw family’s compound and hosted by Bruce and Jolene McCaw. The Seattle Times reported the two-hour event was attended by more than 200 people. Ryan gave a speech on economic issues and higher paying guests received photos of themselves with Ryan.

The McCaw family purchased the compound in 1999 from Kenny G (4/30/12 post below) in a private transaction estimated at more than $20 million. The two mansions have 15,810 sq ft on 4.3 acres with 327 feet of waterfront, 8 bedrooms and 10.5 baths. Craig and Susan McCaw and their family were (and maybe still are) living here.

Craig was the leader or the world famous McCaw brothers, Bruce (1946- ), Craig (1949- ), John (1951- ) and Keith (1953-2002). Keith and John formerly lived in Madison Park and Bruce sold his Medina Groat Point estate in 2011 (2/13/11 post) and may have moved here. The brothers were the pioneers of the cellular phone industry and sold their company, McCaw Cellular, for $11.5 billion in 1994.

The evening $25,000 per couple event was at undisclosed location in Medina. An earlier in the year event for Mitt Romney (12/29/12 post) was held at the mansion of Peter Neupert, a former Drugstore.com and Microsoft executive. He hosted a similar event in the 1990s for President George W. Bush. Neupert’s mansion is on Evergreen Point Road south of Bill Gates’ campus but not on the water. The mansion is 8,000 sq ft on 5.4 acres which is one of the largest lots in Medina.

Obama at Sinegal Hunts Point Mansion

President Obama is attending two fundraisers today at the Hunts Point mansion of James D. and Janet Sinegal. More information, including a video, is in yesterday’s and today’s KING-5 news. James is the co-founder, with Jeffrey Brotman, of Costco and former President, CEO of the company. Two previous Obama fundraisers were held at Brotman’s Medina LW waterfront mansion (click for more information). James started his retail career in 1954 as a bagger for FedMart. He worked with Sol and Robert Price in San Diego to form Price Club in 1976. In 1993 Costco and Price Club were similar in size with about $8 billion each in annual sales and the two companies merged. In 1994 and Price Club stores became Costcos. The Sinegals are next door neighbors to a Nordstrom family mansion and Scott Oki’s mansion. Oki is the area’s golf mogul. More neighborhood information is on a LW Cruising post. The Sinegals’ mansion is 8,370 sq ft on 1.56 acres with 165 feet of waterfront. (The page numbers in the photos refer to LW 130 Homes.)

Ballmer Worst CEO - Forbes

Steve Ballmer’s Hunts Point Mansion

“#1 – Steve Ballmer, Microsoft. Without a doubt, Mr. Ballmer is the worst CEO of a large publicly traded American company today.” This is the first sentence about Steve Ballmer in a 5/12/12 Forbes article by Adam Hartung titled: “Oops! Five CEOs Who Should Have Already Been Fired (Cisco, GE, WalMart, Sears, Microsoft)”

The article continues: “Not only has he singlehandedly steered Microsoft out of some of the fastest growing and most lucrative tech markets (mobile music, handsets and tablets) but in the process he has sacrificed the growth and profits of not only his company but “ecosystem” companies such as Dell, Hewlett Packard and even Nokia. The reach of his bad leadership has extended far beyond Microsoft when it comes to destroying shareholder value – and jobs.

“Microsoft peaked at $60/share in 2000, just as Mr. Ballmer took the reins. . . only rarely made it back to its current low $30s value. . . execution of new rollouts were constantly delayed, and ended up with products so lacking in any enhanced value . . . as Apple took the leadership position in personal technology.

“So today . . . Microsoft is a PC company, nothing more, as demand for PCs shifts to mobile. . . An insane bet for any CEO – and one that would have been avoided entirely had the Microsoft Board replaced Mr. Ballmer years ago . . .

“Although he’s #19 on Forbes list of billionaires, Mr. Ballmer should not be allowed to take such incredible risks with investor money and employee jobs. Best he be retired to enjoy his fortune rather than deprive investors and employees of building theirs.”

Steve joined Microsoft in 1980 for a percentage of the company, a $50,000 annual salary and stock options. He was Microsoft’s 24th employee and first manager other than Gates and Allen. The Hunts Point mansion of Steve and Connie Ballmer is pictured above. They purchased the estate in 1987 for $1.3 million and extensively renovated the buildings, but maintained their charm, in 1991. The mansion and property has a $10 million estimated value. The main house is 4,175 sq ft and the property is 2.09 acres with 160 feet of waterfront. It is adjacent to the south of Craig McCaw’s (formerly Kenny G’s) mansion (4/30/12 post). The neighborhood is covered in a 2/16/11 Lake Washington Cruising post.

Kenny G returns home to Seattle

Craig McCaw’s – formerly Kenny G’s – Hunts Point Home

Kenny G (Gorelick) returned home last week for eight performances at Seattle’s Jazz Alley. A review of his performances was in The Seattle Times on 4/27/12.

He used to live on the Hunts Point property, with two mansions, pictured above. He was born in Seattle and went to Franklin HS where he played in the jazz band and played on the golf team. He is now one of the top celebrity amateur golfers. On summer evenings when he lived in Hunts Point he would sometimes sit on the end of the dock and play his saxophone. His beautiful music would resonate throughout the cove.

Kenny G won the 1994 Grammy Award for Best Instrumental Composition Forever in Love. He is best known for his saxophone playing. He is the best selling instrumentalist in the world with over 70 million singles and albums sold. His album Breathless sold 12 million copies. Songbird was his first number one singles hit in 1986. His other popular singles include Forever In Love, Sentimental, Silhouette and The Wedding Song. He composes and writes most of his songs along with songs for others.

This property is now the home (LW 130 Homes page 152 and 153) of Craig and Susan McCaw. It was purchased in 1999 from Kenny G in a private transaction estimated at more than $20 million. The two mansions have 15,810 sq ft on 4.3 acres with 327 feet of waterfront, 8 bedrooms and 10.5 baths.

Susan is a former U.S. Ambassador to Austria. Craig was the leader or the world famous McCaw brothers, Bruce (1946- ), Craig (1949- ), John (1951- ) and Keith (1953-2002). Keith and John formerly lived in Madison Park (4/16/12 LW Cruising post) and Bruce recently sold his Medina estate (2/13/11 post). The brothers grew their deceased (1969) father’s, Elroy’s, businesses into the 20th largest cable carrier in the U.S. In the early 1980s they started in the fledging cellular phone industry. They founded Kirkland-based McCaw Cellular Communications, Inc. in 1984. In 1986 they sold the cable business for $750 million and bought MCI’s wireless operations for $122 million. McCaw Cellular went public in 1987 raising $2 billion. In 1994, with Craig as CEO, McCaw Cellular was sold to AT&T for $11.5 billion. Following the sale Craig’s net worth was $2.6 billion and each of the brothers’ was slightly less.

Kenny G is a friend of the McCaw families and performs at family weddings and other events. It is rumored that he stays in the 4,760 sq ft guest house in the lower left (partially obscured by trees) of the bottom picture when he is in the Seattle area. After selling the Hunts Point property he purchased a Malibu, CA compound on the oceanfront from actor Leonardo DiCaprio.

Bensussen buys Olsons’ Hunts Point Mansion – $11 Million

Hunts Point – “The Bellisima”

The $11 million sale was recorded 1/23/12. The buyer was listed as ERGL LLC whose agent and manager is Eric Bensussen. He is the Co-Founder (with Barry Deutsch) and President of Woodinville based Bensussen Deutsch & Associates, Inc (aka BDA Inc.) The company’s slogan is “Evolving Branded Merchandise.” A 10/15/2000 Puget Sound Business Journal article by Sharon Baker featured the founders and the start of the company. “Eric Bensussen, then 20, and Jay Deutsch, all of 17, launched their Woodinville company by selling Seattle Seahawks sweatshirts in 1984. . . the duo now run an operation that could bring in some $140 million in sales this year, up from $108 million in 1999. . . provides promotional merchandise -- those freebie hats and T-shirts, pens and other merchandise emblazoned with company logos -- as part of an overall promotional strategy for firms such as The Boeing Co., Microsoft Corp., PepsiCo Inc. and Nintendo of America Inc. . . .” The company is now international, revenue exceeded $250 million in 2010 and clients include Coca-Cola, Major League Baseball and GEICO.

This mansion, “The Bellisima,” was featured in a 3/11/11 post when it was listed for $14.1 million. (The listing price was $12.9 million at the time of the sale.) The mansion (page 136 in LW 130 Homes) is near the center of the eastern shore of Fairweather Bay. It was listed by Tere Foster and Becky Gray, Windermere. The sellers, Rodney and Janice Olson, purchased the Hunts Point 2 acre tip on 3/31/11 for $14.8 million (see 6/11/11 post).

Hunts Point Tip Sold - $14.8 Million

Tip of Hunts Point – Stan Sayres Former Homesite

This (LW 130 Homes page 147) is the site of the former home of Stan Sayres (1897-1956). He was known as “The Legend of Lake Washington” and “The Fastest Man Afloat.” The 2 acre vacant lot sold for $14.8 million on March 31, 2011. The purchaser was Hunts Point Trust. The lot was listed for sale for $19.7 million (see 2/27/11 post). With incredible views and with 750 feet of waterfront, it may be Lake Washington’s premiere waterfront lot.

Andre and Lisa Radandt purchased the property in 2005 for $17.5 million. They are from Bakersfield CA where they own Bolthouse Farms, one of the world’s largest carrot producers. They tried to preserve Sayres’ house but found it was not practical and it was demolished in 2008.

The Seattle Times reported (6/5/11) on the sale and that Rodney and Janice Olson are behind the trust. The Olson’s mansion, “The Bellisima,” near the center of Hunts Point’s western waterfront is listed for sale for $12.9 million (see 3/11/11 post).

Mastro and Russo Top The 2010 Most Expensive Home Sales

 Michael Mastro’s Former Medina Mansion

Ray Russo’s Former Hunts Point Mansion

Estately.com has a cool web site and published “The 10 most expensive homes sold in King County, Washington in 2010.”

Russo’s Hunts Point mansion, $11.3 million sale, (posted here 5/13/10) was number one on the list. Mastro’s Medina mansion, $9.1 million sale, (posted here 11/10/10) was number two on the list. Number ten on the list was a Yarrow Point mansion which sold for $5.7 million. Five out of the ten were Lake Washington waterfront homes, which are covered by this blog and were in Lake Washington 130 Homes. Three were in Seattle’s new high rise condo buildings.

Hunts Point Olson Mansion For Sale - $14.1 Million

Rodney D. and Janice Olson have their Hunts Point mansion (LW 130 Homes page 136), named “The Bellisima,” listed for sale for $14.1 million. (Bellisima is Italian for “very beautiful” and was the name of a popular Venezuelan 1990s TV series.) Rodney and three partners founded Seattle-based WestCoast Hotels 1988 with the purchase of three Seattle Hotels, the Camlin, Roosevelt and the Vance. WestCoast grew to 19 hotels in 1999 and was acquired by Spokane-based Red Lion Hotels Corporation. The estate has 9,675 sq ft on 1.07 acres with 80 feet of waterfront, 4 bedrooms and 5 baths.

From the listing by Tere Foster and Becky Gray, Windermere: The Bellisima on Hunts Point. A grand interpretation of a Mediterranean classic characterized by distinctive quality and design. The carefully curate details have been applied individually preserving the character of the estate and carriage house. A tribute to highly sophisticated taste. A complexity & warmth that is seldom seen together. The nobility & beauty of fine materials. Graceful lines, sensitivity to proportion, a waterfront masterpiece. An extraordinary home. Exclusively Hunts Point.

Hunts Point Tip For Sale - $19.7 Million

Tip of Hunts Point – Stan Sayres Former Homesite



This (LW 130 Homes page 147) is the site of the former home of Stan Sayres (1897-1956). He was known as “The Legend of Lake Washington” and “The Fastest Man Afloat.” The 2 acre vacant lot is for sale for $19.7 million. With incredible views and with 750 feet of waterfront, it may be Lake Washington’s premiere waterfront lot.

Andre and Lisa Radandt purchased the property in 2005 for $17.5 million. They are from Bakersfield CA where they own Bolthouse Farms, one of the world’s largest carrot producers. They tried to preserve Sayres’ house but found it was not practical and it was demolished in 2008.

From the MLS listing:

Legendary Signature! A merger of nature's uncompromised beauty complemented by this vibrant Hunts Point position. Prominent at the tip, 1.93 acres of flat land. 846 feet of continuous waterfront. Magnificent new teak dock. Owners have also completed refurbishing the strong boulder bulkhead and have constructed two extraordinary granite walls. Two swathes of wade-in beaches. Parklike, the guardian of the peninsula ~ zoned for two lots. North, East and Western exposure. For those that can!

Yarrow Point Tip For Sale - $19.5 Million

Tip of Yarrow Point

This was the home (or close to it) of Leigh S. J. Hunt (1855-1933) who owned the Seattle Post Intelligencer. He settled here in the late 1800s and named his estate “Yarrow” after the name of an estate in one of his favorite poems by William Wadsworth. He later purchased property on Hunts Point and that peninsula took his name. The house on this property was built around 1900. The house is about 100 feet from the water behind the trees. The waterfront, which was under water when the house was built prior to the locks, looks like a park but is part of the 3.54 acre estate. This house and the above photos and information are on pages 134, 159 and 162 in Lake Washington 130 Homes.

This is the tip of Yarrow Point, offering fantastic 180° views of Carillon Point to the east, Kirkland’s marina and downtown to the north and the north Seattle area to the west. From the MLS listing: “An unassuming entry quietly shepherds the Eastside's most magnificent lifestyle canvas, available to the market for the first time in over 70 years. A unique blend of rich history & poetic splendor converge at this 1900's period garden estate, extensively remodeled in 07. The property includes 3.54acres encompassing enchanting grounds & 465 frontage ft of prized Lake Washington shoreline. The privacy, scale & quality of the waterfront are unrivaled; a lakeside oasis for generations of enjoyment.”

Microsoft’s Ballmer’s Mansion

Steve Ballmer’s Hunts Point Estate

The Seattle Times reported that many stockholders at Microsoft’s 11/16/10 annual meeting “grumbled about Microsoft’s languishing stock price.” Click here CEO Steve Ballmer conducted most of the meeting and discussed Wall Street’s disconnect to the stock price, optimizing every day, new products, and Goldman Sachs’ suggestion to break up the company.

The Seattle Times also reported, in an 11/5/10 article, Ballmer is selling $2 billion of his Microsoft stock. This is about 18% of his holdings. Click here 

Compared to the other 30 present and past Microsoft executives’ homes in my book, Ballmer has a relatively modest estate. It is in Hunts Point and next door to Craig McCaw’s (formerly Kenny G’s) estate. The photograph above is from page 155 in my book, Lake Washington 130 Homes.

Peter Edwards buys $40 Million Lytle Mansion for $10 or $12 Million

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.

Both houses are in my book (pages 46 and 157): http://www.hundredhomes.net/


More in formation is in previous 5/24/10 and 2/20/10 posts.

Map of the Stars Cruises

Anchor Bay Charters and I had multiple “Map of the Stars” cruises and parties this summer. The 3 hour “Map of the Stars” cruises included Lake Union sights (Sleepless in Seattle floating home, Chihuly’s Studio, views of Space Needle and downtown, etc.) and Lake Washington with the premiere waterfront mansions (Gates, McCaws, Schultz, et al.) of Madison Park, The Eastside’s Gold Coast (Meydenbauer Bay, Medina and Hunts Point) and the North end of Mercer Island. These tours include the homes of eighty percent of the state’s billionaires. The 4 hour cruises added most of Mercer Island and included all the state’s billionaires with Paul Allen’s 10 acre estate. I narrated most the tours and provided information as we view most of the homes in the book. The cruises were popular with Realtors and their clients as I also pointed out homes listed for sale for more than $5million.

The yacht has a wonderful upper level sundeck and a stately heated interior party and dining room with large picture windows. More information is at: http://www.anchorbaycharters.com/ and www.hundredhomes.net/Lake-Washington-Cruises

Cruises can be viewed on You Tube at http://www.youtube.com/watch#!v=RpPLK0KrzxY&feature=channel

Lytle Mercer Island Mansion Auction Update

The Lytle mansion on Mercer Island is still up for auction. My blog regarding the previous auction is below and dated 2/20/10. That 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 new minimum bid is $12 million without contingencies and the new deadline is June 30, 2010. The mansion is 22,800 sq ft on 2.0 acres with 150 feet of waterfront, 5 bedrooms, and 9 baths. It was built in 1977 and extensively remodeled and enlarged in 2000-01. It has an estimated $50 million replacement value. It was first listed for sale in 2004 for $40 million. The listing price was $35 million when I published my book, Lake Washington 130 Homes, in August 2009. Late last year the listing price was reduced to $23 million. My book also includes their new house in Hunts Point that was under construction at the time.

The home was featured on KING 5's Evening Magazine on April 12, 2010.

Both houses are in my book (pages 46 and 157): http://www.hundredhomes.net/

More in formation is in a previous 9/27/10 post and an update is a 5/24/10 post.

Russo Hunts Point Mansion sells for $11.3 Million

This estate in Hunts Point (page 148 in Lake Washington 130 Homes, http://www.hundredhomes.net/) sold for $11.3 million in March 2010. This waterfront mansion was built in 2002, replacing a mansion that was purchased in 2001 for $5.8 million and torn down. The home buyer is listed as Joseph Gaffney, a partner with the Dorsey & Whitney LLP law firm. He may be acting as a trustee for an anonymous buyer. The former owners and sellers were Raymond and Linda Russo.  The Russos owned and managed numerous apartment complexes in the Seattle area. Two of their management companies are Quinault Apartment Associates LLC and R.P. Management. Raymond is a former regent at Seattle University and the Russos were co-chairs of the 2003 SU Gala. The estate has 7,460 sq ft of living space on 1.2 acres with 157 feet of waterfront.

March homes sales showed the most $1 million plus sales in the Seattle area since I started research for my book in 2008.

Lytle Mercer Island Mansion Auction

The Lytle mansion on Mercer Island is scheduled for auction in April 2010. The minimum bid is $15 million. The mansion is 22,800 sq ft on 2.0 acres with 150 feet of waterfront, 5 bedrooms, and 9 baths. It was built in 1977 and extensively remodeled and enlarged in 2000-01. It was first listed for sale in 2004 for $40 million. The listing price was $35 million when I published my book, Lake Washington 130 Homes, in August 2009. Late last year the listing price was reduced to $23 million. My book also includes their new house in Hunts Point that was under construction at the time.

The Mercer Island home to be auctioned features a large indoor pool area with marble columns that is reminiscent of Las Vegas’s Caesar’s Palace. The mansion includes two fish ponds, two wine cellars, three kitchens and a mirrored gym.

The auction web site is: www.sheldongood.com/mercerisland.php

The home was featured on KING 5's Evening Magazine on April 12, 2010.

 

Hunts Point Home - Picture From 2009 Under Construction

The new Hunts Point house is now complete and they are anxious to not have both houses. They are empty nesters and are downsizing from 22,800 sq ft to 10,600 sq ft. The new house must have small closets.

The Lytles, Charles and Karen, are the founders of Leisure Care, one of the largest developers and operators of retirement communities. Both houses are in my book (pages 46 and 157): http://www.hundredhomes.net/.

(Updates are in 9/27/10 and 5/24/10 posts.)

HDTV homes of the rich and famous

In August 2009 I wrote and published Lake Washington 130 Homes. I have expanded my initial scope of a guide book for cruisers to offer a book in a style that has never been used and will be interesting to a wide audience.

The book contains photographs, stories and statistics of 130 mansions and estates that are creatively woven with current and historical information about the homes, owners, their businesses and communities. This book is for anyone who has a fascination with unique homes of the rich and famous or an interest in the Seattle area. This is the first book of its kind as traditional print-publishers have not followed the Internet in publishing pictures of homes, their locations and public information regarding the owners and residents.

KING 5 Evening Magazine aired a HDTV show on October 7, 2009 about LW 130 Homes. It can be seen on web TV at:
http://www.king5.com/archive/64598997.html It's 4.3 minutes long and there is a brief commercial at the beginning. It includes the homes of Bill Gates, Paul Allen, Kenny G (former home), Craig McCaw, Steve Ballmer, Howard Schultz, Detlef Schrempf, and many others. The Dykstra house is near the end (don't blink).

I was interviewed on KIRO radio and the interview is the soundtrack for a tour of the Lake and the book. It can be viewed on Youtube: http://www.youtube.com/watch?v=Vkm9fHmmQ8Q&feature=related

The book's web site is:
http://www.hundredhomes.net/