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Big Bucks in Bellevue: Washington's $22.75 Million Home Sale
November 10, 2021

Big Bucks in Bellevue: Washington's $22.75 Million Home Sale

by The CE Shop Team

There’s Big Money in Bellevue

A waterfront mansion in Bellevue recently sold for $22.75 million in one of the state’s most expensive home sales this year. The waterfront home located on Lake Washington is located in Hunts Point, one of the wealthier communities of West Bellevue.

Whopping Wealth in Bellevue

Big spenders don’t always make news in this part of town. After all, Hunts Point held the state’s largest home sale at $60 million last year. This community is adjacent to Medina, WA, where some of the wealthiest names in tech and entertainment live, including the likes of Jeff Bezos, Bill Gates, Russell Wilson, and Ciara. Needless to say, the waterfront communities outside of Seattle ooze wealth despite the area's average income. While the average sales price for a home in Bellevue is $1,295,000, the median household income sits around $120k.

So, why are homes so expensive in this greater Seattle-area community? The short answer is the land itself. For the wealthy of Washington, it’s easy to scoop up neighboring properties, tear them down, and add acres upon acres to their ever-growing estates. 

If you’re curious about what prompted the unnamed buyer to pay top dollar for their new Hunts Point mansion, we’re happy to take you around the property on a little tour via the magic of the written word.

The Waterfront Mansion Details

West Bellevue Mansion Sells for $22.75 Million

The seller is an entity tied to the late Diane Diamond Foreman, whose father founded the Seattle-based Diamond Parking company. Mrs. Foreman, who died earlier this year, founded Columbia West Properties, a commercial real estate firm in Bellevue. Her husband, Richard Foreman, was a three-term mayor of Bellevue who died in 2014.

The Foremans purchased the lot in 2000 for $5.9 million and spent three years building their awe-inspiring abode.

The 5-bedroom home was originally listed for $23.75 million in mid-August, according to listing agent Jay Kipp of Realogics Sotheby’s International Realty. The home offers roughly 340 feet of private waterfront on Lake Washington.

Perched on a peninsula, the Mediterranean-style home boasts unobstructed views of the lake and Seattle’s skyline, and the interior of the property is just as lovely as its exterior. For example, the formal living room features two-story windows overlooking Lake Washington, 24-foot box-beam ceilings, and two stone fireplaces. Those fireplaces aren’t the only hot spots in this massive mansion. 

Home Features:

  • Library
  • Music Room
  • Wine Cellar
  • Three-car garage
  • Expensive glass art collection

How to Become a Luxury Real Estate Agent

Are you finding yourself wishing that you could tour sprawling estates like the one in Hunts Point day in and day out? With enough hard work and hustle, a career as a luxury real estate agent is well within reach — and it’s lucrative to boot.  

To become a luxury real estate agent, consider pursuing your Certified Luxury Home Marketing Specialist designation. Having a strong network is also key, and knowing the right people could take your career to the next level. To learn how to break into this opulent opportunity in detail, read our blog, How to Become a Luxury Real Estate Agent.

Ready to Build Your Western Empire With Real Estate Courses From The CE Shop?

Enroll in our Pre-Licensing program now to get your career started and begin connecting your neighbors with the home of their dreams. Or keep going strong with one of our comprehensive, 100% online Continuing Education packages. Want to stay up to date on everything real estate-related in the West? Join the Western Real Estate Facebook Group!