Sunday, March 20, 2011

Hunts Point West – Fairweather Bay – Mansions

South to North
The $11 million sale was recorded 1/23/12. The buyer was listed as ERGL LLC whose agent and manager is Eric Bensussen. The sellers, Rodney and Janice Olson, purchased the Hunts Point 2 acre tip on 3/31/11 for $14.8 million (see Seattle Mansions /11/11 post). More information on this sale is in a 2/23/12 Seattle Mansions post. The listing price was $12.9 million at the time of the sale. It was listed by Tere Foster and Becky Gray, Windermere: “The Bellisima on Hunts Point. A grand interpretation of a Mediterranean classic characterized by distinctive quality and design. The carefully curate details have been applied individually preserving the character of the estate and carriage house. A tribute to highly sophisticated taste. A complexity & warmth that is seldom seen together. The nobility & beauty of fine materials. Graceful lines, sensitivity to proportion, a waterfront masterpiece. An extraordinary home. Exclusively Hunts Point.” The mansion is 9,675 sq ft on 1.1 acres with 80 feet of waterfront and is on page 136.
This mansion was listed for $9.5 million in 2011 and $9.0 million in 2012. From the listing by Rondi Egenes, Windermere “Prime Hunts Point waterfront with Olympic Mountain Views. The structures were totally remodeled in 2006. The main house is spectacular with big view windows, a skylight running through the entire home and an atrium in the home center. New kitchen, elevator, and baths; plus sauna. Walls of clear cedar and bamboo floors. The guest house is 1,508 sq. ft. plus 610 sq. ft. of storage, all new with another bedroom and possible 2 additional bedrooms, a gym; and office. Park-like setting on over an acre.” The mansion and guest house total 7,350 sq ft on 1.1 acres with 80 feet of waterfront. It is owned by Reginald S. Koehler III. He is Senior Counsel with the Perkins Cole law firm in Seattle.
This is the home of John N. and Sally Nordstrom. John retired as Director of Nordstrom in 2006. The mansion is 6,300 sq ft on 1.21 acres with 125 feet of waterfront and is on page 143.
This is the home of James D. and Janet SinegalJames is the co-founder, with Jeffrey Brotman, of Costco and former President, CEO of the company. James started his retail career in 1954 as a bagger for FedMart. He worked with Sol and Robert Price in San Diego to form Price Club in 1976. In 1993 Costco and Price Club were similar in size with about $8 billion each in annual sales and the two companies merged. In 1994 and Price Club stores became Costcos. The mansion is 8,370 sq ft on 1.56 acres with 165 feet of waterfront and is on page 144. President Obama attended two fundraisers 7/24/12 at the mansion (click for more info).
This is the home of Scott D. and Laurie Oki. Scott is the owner of Oki Golf and was Sr. VP of sales and marketing with Microsoft when he retired in 1992 and cashed in stock options for approximately $100 million. He started Oki Golf with the acquisition of a 350 acre parcel that was an 1800s coal and construction waste landfill on top of a hill overlooking Lake Washington and Puget Sound and turned it into The Golf Club at Newcastle, a nationally top rated, high-end public 36 hole golf course with a 44,000 sq ft clubhouse. Oki Golf now owns nine golf course clubs in the Puget Sound area and Scott is known as the area’s golf mogul. The mansion is 7,180 sq ft on 1.85 acres with 259 feet of waterfront and is on page 145.
This property was listed for sale for $22.8 million in 2009, for $19.7 million in 2010 and sold for $14.8 million 3/31/11. It previously sold for $17.5 million in 2006 to Andre and Lisa Radandt from Bakersfield CA where they own Bolthouse Farms. This is the site of the former home of Stan Sayres (1897-1956) “The Legend of Lake Washington.” Sayres’ mansion was demolished in 2008. The current purchaser was Hunts Point Trust (Rodney and Janice Olson whose former home is south of here and the picture and write-up are above). This property was listed by Wendy Lister, CBBain: “Legendary Signature! A merger of nature's uncompromised beauty complemented by this vibrant Hunts Point position. Prominent at the tip, 1.93 acres of flat land. 846 feet of continuous waterfront. Magnificent new teak dock. Owners have also completed refurbishing the strong boulder bulkhead and have constructed two extraordinary granite walls. Two swathes of wade-in beaches. Parklike, the guardian of the peninsula ~ zoned for two lots. North, East and Western exposure. For those that can!” More information is on page 148 of LW 130 Homes and in a 6/11/11 Seattle Mansions post.
(Updated 7/23/12)
(*Page numbers refer to LW 130 Homes. This posting will be periodically updated to add links to the MLS listings and for new sales and listings.)

Saturday, March 19, 2011

Hunts Point Northeast – Cozy Cove – Mansions

North to South

This estate sold for $11.3 million in March 2010 and was 2010’s most expensive LW Map of the Stars® sale. The home buyer is listed as Joseph Gaffney, a partner with the Dorsey & Whitney LLP law firm. He may be acting as a trustee for an anonymous buyer. The former owners and sellers were Raymond and Linda Russo. The Russos owned and managed numerous apartment complexes in the Seattle area. The mansion was listed at $15.8 million by Wendy Lister, CBBain: “French Manor rooted in European elegance at a freshwater Intercoastal Bay of this noted portrait peninsula. Reflecting the pursuit of leisure activities; extraordinary opportunities for celebrated entertaining . . .” The estate has 7,460 sq ft of living space on 1.2 acres with 157 feet of waterfront. The mansion and sale were featured in a 5/13/10 Seattle Mansions post and is on page 148 of LW 130 Homes.
This property, as a vacant lot, was sold for $5.4 million 8/30/10 and the new mansion was completed in 2011. The buyers were Rajeev and Arpita Agarwal and the seller was Cal McAusland. It was listed by Art Whittlesey, Windermere: “Hunts Point waterfront building opportunity! Located near the end of Hunts Point Road, this private estate is level and ready to build on. 100 feet of waterfront with private beach and dock await your summer enjoyment. If you demand privacy, you will love this quiet location wrapped in established landscaping. The main house has already been removed and the existing pool house will make the perfect summer cabana while you complete the construction of your dream residence. Welcome to Hunts Point.” The new mansion is 5,990 sq ft on 0.8 acres with 100 feet of waterfront.
This home is listed for $7.2 million. From the listing by Tere Foster and Moya Skilman, Windermere “Timeless Estate on Hunts Point. Resting gently on almost an acre of waterfront grounds, the estate exudes classical style with grace and charm. Storybook windows frame views of rolling emerald lawns, colorful rhododendrons and sparkling lake waters. Enjoy summer afternoons in the garden overlooking the 100 feet of waterfront and private dock. Relax fireside in the formal living room with friends. Host large holiday gatherings in the dining room. The master suite draws in picturesque views. A rare offering on Hunts Point.” The home is 4,390 sq ft on 0.9 acres. It is owned by Alvin S. Pearl. He is a principal, with other family members, of Tukwila based Pearl Northwest, a seller of women’s and children’s clothing.
This property was sold for $5.5 million 6/21/10. The buyers were Zuoqing Huang and Niu Jun and the sellers were Thomas B. and Agnes Lee. It was listed by Wendy Lister, CBBain: “HUNTS POINT WATERFRONT Magic in the gardens ~ an intimacy with the lakefront ~ 1927 architectural storybook originally restored under Jim Olson’s touches. Recently, substantially refurbished with added character of chic and charm. Dinner in the European courtyard with its gnarled old Quince. Shy acre site; 102’ of deep water protected moorage; rare sandy beach. So much sunshine!!! From morn thru eve. Spectacular! Garden oh my. A kettle drum of daisies playing to a symphony of roses.” The home is 3,090 sq ft on 1.0 acre.
This mansion (page 150) was sold for $6.5 million 6/19/12. The listing price was $8.5 million in 2010 and $7 million in 2011. It was listed by Chris Karsteter, CBBain: “Estate-sized property in the heart of Hunts Point. 1.54 acres of mature gardens and old-growth trees. 129' of no-bank frontage. Extra wide/large parcel offers optimum water views. Quiet, eastern exposure. Spacious 1987 NW Contemporary residence with second master suite on main level. Covered moorage with boat slip & dock. Personal beach access, waterside patio & unique barbeque cabana. Peaceful, sylvan setting.” The mansion is 7,540 sq ft. The buyer was Centerville Properties LLC and the seller was H. Willard Nagley III.
This mansion (page 151) was sold for $8.0 million 2/24/10. The listing price was $8.9 million. It was listed by Wendy Lister, CBBain: “The imprint of traditionalism on the treasured shores of Hunts Point. Magnificent gated 1.07 acres of exquisite, manicured grounds; a gentle slope to the 86’ of spectacular freshwater coastline. Incomparable, substantial moorage for float plane and yacht. The soft interior palette draws your attention forward to the drama of Lk Wash. French doors, deep-set millwork, Bay windows, chocolate hardwoods. Intimate meandering paths. Hand-selected rose-orange brick facade and pillars. 7 car garage parking. A gentle peninsula of privacy with a latitude ~ longitude zone of unparalleled exhilaration. Golden Coast affluency from midday sun thru starlit nights. This is an ultimate moorage situation...often talked about.” The current mansion is 6,110 sq ft and includes a substantial expansion and renovation following the purchase. The buyer was HPW Trust and the seller was Acorn Trust with Brian Marcinek listed as the taxpayer. The property is adjacent to the north of Craig McCaw’s estate.
(Updated 7/23/12)

Friday, March 11, 2011

Cruising Fairweather Bay and Lake Washington

Michael Mastro’s Former Mansion – Sold For $9.1 Million

Olson Mansion – “The Bellisima” – For Sale $14.1 Million
Cruising north along Medina's west coast you cross under the east side of the SR-520 Bridge.  The next point is Evergreen Point, still Medina, with Fairweather Bay on the other side.  Michael Mastro’s former mansion is one of the prominent homes on the northwestern shore of Evergreen Point.  The mansion was sold for $9.1 million by the bankruptcy court in November 2010.  My Seattle Mansions blogs, dated 11/10/10, 10/11/10 and 11/12/09, provide additional information on the Mastro bankruptcy and “family and friends” investors.  His bankruptcy was one of the largest in Seattle’s history. 
Hunts Point is on the east side of the bay where Nordstrom family members, Scott Oki (former Microsoft executive and now the area’s golf mogul) and James Sinegal (Costco co-founder and CEO) have spectacular mansions with beautiful landscaping.
In the center of the western shore of Hunts Point is the 10,000 sq ft Olson mansion, “The Bellisima,” that is listed for sale for $14.1 million.
Hunts Point is the wealthiest community in the state.  Eighty percent of the community’s homes are on the two sides of the point with one acre plus lots extending from the water to the one road in the center of the point.  The lots are low bank and noted for fabulous landscaping.
The above photographs of the mansions are from pages 126 and 136 in my book, Lake Washington 130 Homes.

(This is the eleventh chapter [go to next chapter] of our “Lake Washington Cruising” article. The chapters are being posted in reverse order.  When all chapters are posted they will be in order in this blog with the first chapter at the top.  I will be posting approximately two chapters per month.  You can read and print an abbreviated pdf version of the entire article.)

Wednesday, March 2, 2011

Craig McCaw – Kenny G – Mansions

This is the property (pages 152 and 153) of Craig and Susan McCaw. It was purchased in 1999 from Kenny G in a private transaction estimated at more than $20 million. The two mansions have 15,810 sq ft on 4.3 acres with 327 feet of waterfront. Susan is a former U.S. Ambassador to Austria. Craig was the leader or the world famous McCaw brothers, Bruce (1946- ), Craig (1949- ), John (1951- ) and Keith (1953-2002). Keith and John formerly lived in Madison Park and Bruce recently sold his Medina estate. The brothers grew their deceased (1969) father’s, Elroy’s, businesses into the 20th largest cable carrier in the U.S. In the early 1980s they started in the fledging cellular phone industry. They founded Kirkland-based McCaw Cellular Communications, Inc. in 1984. In 1986 they sold the cable business for $750 million and bought MCI’s wireless operations for $122 million. McCaw Cellular went public in 1987 raising $2 billion. In 1994, with Craig as CEO, McCaw Cellular was sold to AT&T for $11.5 billion. Following the sale Craig’s net worth was $2.6 billion and each of the brothers’ was slightly less. In 2003 Craig founded Kirkland-based Clearwire Corporation and he is Chairman. The company went public in 2007 raising $600 million and Craig retained a majority of the shares. The company provides portable wireless high-speed Internet service. He resigned as Chairman in December 2010 and in early 2011 the company’s stock was trading around $5 per share. Its high was $32.50 in 2007.
Kenny G (Gorelick) was born in Seattle and went to Franklin HS where he played in the jazz band and played on the golf team. He is now one of the top celebrity amateur golfers. On summer evenings when he lived here he would sometimes sit on the end of the dock and play his saxophone. His beautiful music would resonate throughout the cove. Kenny G won the 1994 Grammy Award for Best Instrumental Composition Forever in Love. He is best known for his saxophone playing. He is the best selling instrumentalist in the world with over 70 million singles and albums sold. His album Breathless sold 12 million copies. Songbird was his first number one singles hit in 1986. His other popular singles include Forever In Love, Sentimental, Silhouette and The Wedding Song. He composes and writes most of his songs along with songs for others. Kenny G is a friend of the McCaw families and performs at family weddings and other events. It is rumored that he stays in the 4,760 sq ft guest house in the lower left (partially obscured by trees) of the bottom picture when he is in the Seattle area. After selling the Hunts Point property he purchased a Malibu, CA compound on the oceanfront from actor Leonardo DiCaprio.
(Revised 7/23/12)