Mediterranean Mansion Auction Ends– $12m Does It

That mansion that was up for auction finally went for $12 million. Not a big surprise, as the min bid was reduced to that amount just weeks ago.

The brochure is now offline, so I’ve posted it here: auction brochure.

More interesting than the sale itself is the coverage it generated.

  • The Seattle Times led with the $28 million markdown from the original price (that is a staggering amount) and had background on the sellers.
  • Seattle Bubble did a nice analysis using this sale to set a ceiling on Seattle-area real estate prices.
  • BizJournal reached the seller, Chuck Lytle, and got some commentary. They also noted that the place has a stocked trout pool, which is an feature I had never really considered  an amenity before.
  • Sound Politics fell into a rant on liberals and rich people that I found hard to understand, though apparently someone did: the first comment is “Another brilliant post.”

Best quote on the place, from the Seattle Times article: “It’s like the [Las Vegas] Bellagio without the slot machines.”

One response to “Mediterranean Mansion Auction Ends– $12m Does It

  1. Pingback: Mercer Island Real Estate Market Update | Surrounded By Water: A Mercer Island Blog

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