Mercer Island Boulevard Pl Mansion Sale $13 Million

This mansion sold 11/21/12 for $13.3 million. This property, known as “The Boulevard Place Mansion,” was featured in Seattle Mansions posts on 8/31/11 and 10/21/10. It was listed for sale at $28.8 million in 2010, lowered to $19 million in 2011 and an auction on 8/30/11 failed to attract the minimum bid of $15.5 million. The mansion was listed by Kris Robbs, Ewing and Clark, “Unique property takes advantage of 1.6 acre, street to Lake prize. Two-inch limestone floors extend from entry, spill down terrace around the in-ground pool & hot tub. Impressive 164' westside waterfront ready for speed boat, Seadoos & yacht. Soaring ceilings, balcony, warm wood office & leaded glass doors, with state-of-the-art theater & 9.1 surround. Two outdoor Viking BBQ complement gourmet kitchen. Escape to romantic master suite, spa bath with aroma/chroma therapy So many divine finishing details!”

The living area is 13,636 sq ft with 7 bedrooms, 11.25 baths, theaters, multiple kitchens, wine cellars, and 8 washer-dryer rooms. There is additional covered non living areas and resort-style features including a 120” plasma TV rising from the edge of the pool. The sellers were David and Becky Sandwith and the buyer was a trust. The Sandwiths purchased the lot for $5.4 million in 2004 and construction commenced. They reportedly had a total of about $30 million invested in the property. David, his parents and siblings sold Kent based Mikron Industries, a manufacturer of high tech window components, for $205 million to Quanex Corporation in 2004. The $28.8 million 2010 listing was the most expensive King County MLS listing at the time. The property is one-half mile north of Paul Allen’s compound and on page 59 in Lake Washington 130 Homes.

Mastro Pieces and Michael’s Mansion

Mastro’s Former Medina Mansion

“Mastro Pieces” is the title of today’s Seattle Times article on the auction of Michael Mastro’s items that he left behind before he and his wife disappeared last summer. They remain at large following warrants for their arrest and court orders that they turn over jewelry valued at $1.4 million.The courts confiscated items left behind. These include the following items (and the auction net prices): 2007 Bentley ($95,500), Chihuly chandelier ($35,000), Steinway piano ($17,000) and four bottles of wine ($2,200). The auction netted a total $341,000.

The mansion was sold by the bankruptcy court in 2010 for $9.1 million. Unpaid debts are more than $270 million.

The Mastro bankruptcy, with original debts of $570 million, is the largest in Washington state’s history. Many “family and friends” lost their fortunes when his commercial real estate investment funds failed. More information about Mastro and his former Medina Mansion is in previous posts on 4/6/11, 11/10/10, 10/11/10 and 11/12/09 and Lake Washington 130 Homes on page 126.

Mercer Island Mansion Auction

Mercer Island Boulevard Place Mansion

The Mercer Island Patch reported 8/30/11 the Boulevard Place mansion auction on this date failed to attract the minimum bid of $15.5 million. There were four qualified bidders attending the auction. This property was featured in a prior 10/21/10 post.

Last fall it was listed for sale at $28.8 million and was the most expensive King County MLS listing.  It is one-half mile north of Paul Allen’s compound and on page 59 in Lake Washington 130 Homes. The Puget Sound Business Journal published a 10/18/10 article about the property.

The living area is 13,636 sq ft with 7 bedrooms, 11.25 baths, theaters, multiple kitchens, wine cellars, and 8 washer-dryer rooms. There is additional covered non living areas and resort-style features including a 120” plasma TV rising from the edge of the pool.  Construction started in 2004 when David and Becky Sandwith purchased the lot for $5.4 million. The Patch reported they have a total of about $30 million invested in the property. David, his parents and siblings sold Kent based Mikron Industries, a manufacturer of high tech window components, for $205 million to Quanex Corporation in 2004.

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.

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.)