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.)

Friday, October 1, 2010

Gary Reed Sells Medina Mansion for $22 Million

William G. “Gary” Jr. and Victoria Reed sold their 8,600 sq ft Medina home (page 100 in Lake Washington 130 Homes, in September 2009. This and the Bezos estates at 5.35 acres each are the largest in Medina. This estate has 305 feet of waterfront and the property stretches over 200 yards from the shoreline to Overlake Drive. The lot is relatively flat with lush landscaping and a tennis court at the water’s edge. The sale went relatively unknown since it was a private, family transaction. The recorded buyer was Blue Water Realty LLC whose principals are Gary’s son, Doug Reed, and Sarah Reed. I have not been able to verify if that is who is living there. Please comment if you know.

Gary and Victoria have moved to their new mansion in Madison Park (see later blog above). The Seattle Times labeled Gary “the most powerful Seattle business leader you’ve likely never heard of.” He is or has been on the Boards of Microsoft, Paccar, Safeco, The Seattle Times Company and Washington Mutual. He is the grandson of Mark Edward Reed who joined Simpson Logging in 1897 and was named president after the company’s founder, Sol Simpson, died in 1906. The Reed family bought out the Simpson family and the company is now one of the largest private, family owned companies in the state. It is now Tacoma-based Simpson Investment Company. Gary worked in executive positions with the company starting in the 1960s and served as Chairman from 1971 to 1996. He oversaw the company’s expansion into plastics and other manufacturing.

(Information on his new Madison Park home is above.)

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