In a record-setting move for Lake Tahoe real estate, cryptocurrency tycoon Jeffrey Berns has sold one of the area’s most lavish properties for a staggering $47.5 million. The sale, completed with a notable $2.5 million discount from the initial $50 million asking price, marks a significant moment in the region’s luxury housing market.
A Prized Lakefront Retreat
This 11,843-square-foot marvel, situated in Incline Village, NV, is not just any lakehouse. It boasts an impressive 150 feet of pristine lake frontage, a rarity that elevates its status among the elite properties of Lake Tahoe. The property’s allure is further enhanced by its exceptional lakeside amenities, including a boat lift, a shared deep-water pier, and a buoy, all adding to its exclusive charm.
The home itself is a testament to luxury and functionality. With four bedrooms and 4.5 bathrooms, it offers an expansive living experience complemented by a 1,200-bottle wine cellar, a lakeside office, a 2,500-square-foot garage, and a heated driveway. The spacious open-plan design is ideal for entertaining, featuring large windows that frame breathtaking views of the surrounding natural beauty.
An Entertainer’s Dream
The property’s design showcases an entertainer’s dream: a large home theater with plush seating and captivating wall art, a generously landscaped backyard bisected by a year-round creek, and perennial gardens. The flat, level lot enhances its usability, providing a rare flat expanse amid the mountainous terrain of Lake Tahoe.
“The lavishly landscaped grounds are level to the lake, offering endless entertainment opportunities,” the listing emphasizes. “The mountain modern home features high ceilings and expansive picture windows that create a seamless indoor-outdoor living experience.”
A Rapid Transition
Purchased in 2021 by Berns and his wife, Mary, the property underwent a comprehensive renovation to suit their tastes. However, their subsequent divorce led to the sale of the home, effectively turning it into a “turnkey property” complete with the furnishings and even a boat.
Despite the extensive work invested in the home, Berns did not see a profit, selling it for the same price he paid. His quick sale decision was likely influenced by the personal changes in his life and his move to a new $25 million residence in Las Vegas.
A Competitive Market
Had Berns achieved his original asking price, the property would have set a new benchmark for Lake Tahoe luxury homes, equaling the record held by a $50 million sale in 1998. However, the region’s high-end market remains competitive. Notably, a nearby property in Crystal Village was listed at a record-breaking $75 million in 2017 and remains on the market, now priced at $49.5 million.
The Next Chapter
As Jeffrey Berns settles into his new Las Vegas home, built originally for Prince Jefri Bolkiah of Brunei, Lake Tahoe’s luxury real estate market continues to evolve, reflecting the dynamic nature of high-end property investments. This latest sale underscores the allure and high stakes of luxury living, marking a new chapter in the region’s storied real estate landscape.
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