Multi-Million $ Mercer Island Homes Discounted

$4.2M Mansion Sold On Right
Darren Berg’s Former $5.9M Mansion On Left 

A property listed for $6.5 million was sold at a 35% discount. A north end Mercer Island home was sold in October 2011 for $4.21 million. This is not as large as the 72% discount ($12 million versus the original listing of $43 million) for the nearby sale of the former Lytle mansion to Peter Edwards of Video Only (see 9/27/10 post). The $4.2M home was featured in a 5/21/11 post when it was listed for $6.45 million. The purchasers are Timothy and Sherie Bernardez. Timothy is the Co-founder and Managing Partner of Evergreen Pacific Partners, a prominent Seattle based private investment firm with $700 million under management.

From the MLS listing (Betty DeLaurenti and Julia Nordby, John L. Scott): (includes numerous interior photos): “European style home, 6 BR,7BA w/a large bonus rm, exercise rm and a home office w/a separate entrance. Extensive use of marble, granite, tile and hardwood throughout. Grand formal spaces and a gourmet kitchen you may never want to leave. All is complemented by graceful manicured gardens, multiple decks, covered outdoor patio and a firepit at waters edge. Approx 104+/- feet of prime North End Lake Washington waterfront is ready for use with a L shaped dock, covered boat lift and a sandy beach.”

The home is 6,071 sq ft on 0.4 acres with 104 feet of waterfront. This home is six houses west of page 43 in LW 130 Homes and one house northwest of Darren Berg’s (Ponzi scheme fame) former house (12/30/10 , 1/17/11, 5/22/11 and 12/30/11 posts). Berg’s house was sold through the bankruptcy court for $5.9 million in January 2011.