Home News A Waterfront Home in Washington’s San Juan Islands Lists for $14.5 Million

A Waterfront Home in Washington’s San Juan Islands Lists for $14.5 Million

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In the San Juan Islands, Washington, about 15 acres of waterfront homes are demanding $ 14.5 million.

The property is owned by Nevada-based GBank Financial Holdings founder Ed Nigro and his wife Lee Nigro. In 2017, Nigro paid about $ 3.3 million to buy about 10 acres from the University of Washington on San Juan Island, Nigro said. About a year later, he bought about five acres of adjacent adjacent sellers from another seller, but he said he didn’t say how much he paid.

“The island’s real estate market was still recovering from the recession,” said Mr. Nigro.

Nigros, who lives primarily in Nevada, said he used the property as a villa.

San Juan Island is located in the Salish Sea, about 100 miles from Seattle. According to Nigro, the property in Negro includes a three-bedroom main house and a two-bedroom guesthouse built in the 1990s. In 2007, wings were added to the main building. Accommodation also includes a tea room, staff building, and multiple garages. After purchasing the property, Nigros said he spent about $ 2 million on refurbishing the property, including refurbishing the kitchen in the main building, adding media rooms, dyeing the exterior of the building, and renovating the landscaping.

According to Negroid, the property has a frontage of about 1,000 feet in the Straits of Haro. On-site whale watching decks, two generators, fruit trees, flower fields, and a covered deck of approximately 3,200 square feet.

He said Nigros is selling because they don’t spend as much time on real estate as they used to.

Luxury waterfront homes are rarely on the market in the San Juan Islands. Families tend to retain their property for generations, Coldwell Banker Realty List Agents Tim Allen and Greg King Windermere Real Estate said. They said the area is a popular villa market for people in the northwest.

According to data compiled by King, the average selling price of homes in San Juan County in March was $ 1.6 million, more than double the year-ago quarter.

Write to Libertina Brandt [email protected]

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