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Lake Tahoe home sells for region’s third highest price on record

Lake Tahoe home sells for region’s third highest price on record

A house on Lake Tahoe’s north shore has sold for $47.5 million, putting it among the region’s priciest residential properties. The property, called Spirit of the Lake, is at 859 Lakeshore Blvd. in Nevada’s Incline Village. It went on the market in August 2020 with an asking price of $44 million, according to Realtor.com, and…

A house on Lake Tahoe’s north shore has sold for $47.5 million, putting it among the region’s priciest residential properties.

The property, called Spirit of the Lake, is at 859 Lakeshore Blvd. in Nevada’s Incline Village.

It went on the market in August 2020 with an asking price of $44 million, according to Realtor.com, and the sale closed on Nov. 10 of this year.

According to Washoe County assessor data, the four-bedroom house was completed in 2006, several years after the 1.4-acre lakefront parcel was bought by an entity associated with Dean and Madylon Meiling. The couple own Chemeon, which makes specialty metal coatings, and are prominent philanthropists in the Tahoe community.

The house has a home theater, exercise room, 1,200-bottle wine cellar, elevator and seven-car garage, the listing said. Included in the sale were a grand piano and a high-end Cobalt motorboat.

The selling price puts it just below the Thunderbird Lodge (the Whittell Estate), which sold for $50 million in 1998 to developer Del Webb, and Tranquility, which sold in 2013 for $48 million. Both those properties, on the lake’s east shore, came with substantially more acreage: Tranquility is 210 acres and Thunderbird 140 acres.

In 1999, Thunderbird was transfered to a nonprofit society in a three-way deal involving a federal land swap that provided property for a Del Webb development near Las Vegas. The lodge is now open to tours.

More recently, tech moguls Mark Zuckerberg and Larry Ellison each spent at least $60 million to acquire multiple properties for Tahoe homes. Ellison has also been buying resort properties on the lake.

Another lakefront Incline home currently on the market would break the single-property Tahoe record if it gets its asking price: Nagi Tanka, at 575 Lakeshore Blvd., has been listed since July at $60 million. The 5-acre property has a 12,679-square-foot house and a 3,800-square-foot guesthouse, completed in 2012.

The two-parcel lot was bought in 2010 for a reported $11.8 million by Sean and Jennifer O’Neal, according to  the Robb Report.

 

 

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