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 and the Olympics with the top of the Mt. Rainier skyline in the foreground. The location is minutes from
downtown Seattle . 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(Revised
in the PNW. The Bacons and Thomas Ellison own a
mansion about a seventh of a mile to the northeast in Value Village that is for sale for $8.9 million. Meydenbauer Bay