If there was ever any question that Lake Tahoe appeals to the upper echelons of the world’s ultra-wealthy, let the most expensive listing on the lake – a cool $100 million – lay that to rest. So what does a billionaire get for their money in Lake Tahoe, aside from no state taxes on the east side? The lake’s only private marina, for starters, with a floating dock and 12 boat slips.
The Estate
Depending on what you read, Chuck and Cindy Bluth either built or renovated the home in the early 2000s for about $26 million. Highlights of the home and property include:
- Four acres
- 20,000 sq ft
- Four bedrooms
- Private beach with 400 feet of lake frontage
- Two guest cottages
- Waterfall and zen garden
- Home theater
- 2,500-bottle wine room
- Marble and fixtures from Spain, onyx from Jordan, and handcrafted wood parquet flooring
Tahoe’s Ultra-Luxury Market
We’ve covered the highest sales on Tahoe property previously, with the biggest home sale a 210-acre Zephyr Cove property that sold for $48 million, matching a 2014 sale of co-founder Tommy Hilfigure’s estate. This is quite the jump up, but it’s also true that home prices at the lake have positively soared in recent years. Keep in mind that Glenbrook, the exclusive community in which this estate is located, is on the east shore of the lake. Nevada has no state income tax, estate tax, or inheritance tax, and property taxes are fairly low. That makes it really appealing to wealthy buyers from neighboring California.
The Takeaway
The truth is, we’ve been here here. In 2006, a $100 million Nevada-side Lake Tahoe listing (known as “Tranquility) came to market and sat there for five years before taking a $25 million price cut, being taken off-market, and finally selling for $48 million three years after that. If anything, another $100 million Tahoe listing is a sign of a frothy market. At this point, it’s anyone’s guess how long it will sit and what the final sales price will be. Only time will tell.
