$47 million Tahoe home tops basin market
April 28, 2008
Three homes, a buildable lakefront lot, 8.75 acres, a 157-foot pier and 578 feet of shoreline along Lake Tahoe are some of the numbers for a four-parcel property for sale near the west end of Lakeshore Boulevard.
However, the largest number for the estate, dubbed Tahoe Treasure, is its price: $47 million.
This makes Tahoe Treasure the third-highest residential property for sale in Lake Tahoe and the 23rd most expensive residential property in the United States, according to the Ultimate Home list.
But the listing agents, Chris and Patti Plastiras, said for those in the luxury home market, the property is actually a good value with its buildable lot, large acreage, new pier, and long shoreline. Other lakefront homes with less than an acre are selling in the $9 million to $10 million range.
“You’d be surprised at how many people have looked at it already,” said Patti.
It is one of the most expensive in Tahoe, and for the Plastiras, who own Lakeshore Realty, it is the highest priced listing in their career. Chris, who was a partner in Tanager Realty before he opened Lakeshore in 1994, has been in the business for 27 years, while Patti has been selling real estate for 20 years.
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Currently, there is one other estate in Incline Village with a higher price ” the Sierra Star estate selling for $60 million by Bay Area Realtor Scott Alford, whom Ultimate Homes magazine reported was the son of the current owner. The highest-priced property currently for sale in Lake Tahoe is the 210-acre Tommy Hilfiger estate, known as Tranquility, selling for $100 million. Shari Chase, of Chase International, is the listing agent for the Glenbrook, Nev. property.
The Plastiras are researching the history of Tahoe Treasure, knowing that it dates back awhile. There is a 100-year-old 850-pound safe still sitting on the property, with rumors that it was owned by Joe King, the founder of Kings Beach. In recent history, Warren Trepp owned Tahoe Treasure from 1989 until he sold it in 2000. The three homes on the estate were built in 1992, 1994 and 1996, designed by architects Sagan-Rich Design.
The current owners, Greg Walsh and Ruth Page, purchased the property in 2000 for $32 million, but are now relocating to Gardnerville to pursue their passion ” breeding rare Friesian horses. Opening a 40-acre ranch last year, the couple named it after their 5-year-old granddaughter, Maddi, and are happily developing the ranch and its large, gentle horses. For information, visit the Web site, maddisfriesianranch.com.