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.

Schrempf’s Mansion Sold – $7.0M to Bernier and McCaw

Detlef and Marianne Schrempf sold their Meydenbauer Bay mansion in April 2011 for $7.0 million to Yahn Bernier and Beth McCaw. The estate has 7,200 sq ft on 0.9 acres with 85 feet of waterfront. More information is in Lake Washington 130 Homes on page 85. This lot with an older home was purchased in 2000 and a new home was built in 2003. The home features covered moorage for a 60 foot yacht, a fabulous great room and kitchen with three fireplaces and a wing for children and guests.

Detlef starred for the SuperSonics from 1993 to 1999 and was an assistant coach for the team’s final 2006-08 seasons in Seattle.  He was selected to the NBA All-Star team 3 times and was the first NBA player born in Europe to score 15,000 career points.  He was born in West Germany and moved from there to Centralia, Washington in his senior year of high school.  He led his school team to the state championship in 1981.  He starred at UW and was on the All-PAC-10 Team.  He started his NBA career in 1985 being drafted by the Dallas Mavericks.  He played on the Sonics team that reached the NBA finals in 1996.  He founded the Detlef Schrempf Foundation in 1996 to support organizations that provide hope, care, and assistance to Northwest children and their families.  Every June the Foundation hosts the Detlef Schrempf Celebrity Golf Classic in Port Orchard and a Celebrity Gala and Auction in Bellevue.

Yahn Bernier is Software Development Engineer at Bellevue based Valve Software. Beth McCaw is a Seattle based attorney.

Richard DiCerchio Costco Mansion For Sale - $11.3 million

Richard DiCerchio’s Medina Groat Point Mansion

Costco’s Richard DiCerchio’s Medina Groat Point Mansion is for sale for $11.3 million. From the listing agent’s (Wendy Lister, CBB) summary: “Gold Coast Royalty! Standing ovation spectacles...Olympic peaks, Seattle's spires, incomparable Mt. Rainier cone. A Demetriou signature: a fusion of home, lake and R David Adams' symphony of blooms. An early greatroom inspiration for your circle of friends...tremendous, sleek overscale cuisine center. The Nano wall at waterside level a Malibu inspiration opening the brilliant fireside Nutron lit pool for fresh air moonlight/sunshine swims. Astonishing! Movies, sport bar. Deep water dock.”

The estate has 9,000 sq ft on 0.65 acres with 118 feet of waterfront, 4 bedrooms and 5.25 baths. DiCerchio is Senior Executive Vice President and COO of Issaquah-based Costco. He joined the company in 1983 as VP, Operations. He was appointed Executive VP in 1986, COO – Western Region in 1992, and his current position in 1997.

More information is in Lake Washington 130 Homes on page 90.

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)

Groat Point Medina

J. Lennox Scott’s Mansion

Looking across tip of Groat Point east towards Bellevue

Groat Point marks the Medina entrance to Meydenbauer Bay. This has been the site of many famous mansions. The first (McGilvra) house was built in the 1800s. In 1928 Miller Freeman purchased and moved into a 14 room mansion on this site. Miller was the owner of a Seattle publishing house and several journals. He was instrumental in getting the Lake Washington Ship Canal built in 1916. He is the father of Kemper Freeman and grandfather of Kemper Freeman, Jr. The Kempers have been responsible for major development of Bellevue. Kemper Jr. founded Kemper Development Company which is the major developer of downtown Bellevue.

The Point was subdivided into multiple lots. The property and mansion on the southwest corner of the Point is owned by J. Lennox Scott. Lennox is Chairman and CEO of John L. Scott Real Estate. The company was founded in 1931 by his grandfather and has become one of the largest and most successful regional real estate companies in the nation.

The next lot to the northwest is for sale for $11.3 million (2/15 post). It belongs to Richard DiCerchio, Senior Executive Vice President and COO of Issaquah-based Costco.

The property and mansion on the southwest corner of the Point was owned by Bruce McCaw and sold in January 2011 (2/13 post) to Michael V. Griffith, Trustee, for an undisclosed buyer for $15.3 million. Last year I received a rumor that J. Lennox Scott was negotiating to buy the property for investment purposes and to consolidate the tip of the Point and use part of the site for income-producing lavish events. This is a spectacular event site with 300° views that include downtown Bellevue, Mt. Rainier and the Olympics with the top of the Seattle skyline in the foreground. The location is only minutes from downtown Bellevue.

More information is in Lake Washington 130 Homes on pages 88 to 90.