Once $40 Million, Mansion Sells For Deep Discount

by Deidre Woollard (RSS feed)
Jul 24th 2010 at 8:04AM

Sheldon Good & Company has announced the results of a the sale of the Lytle Mansion on Mercer Island in Washington state. We first started watching this home in 2005 when it was listed at a whopping $40 million. The three-story mansion on two acres was put up for sealed bid auction this year. The property sold for $12 million, one of the highest prices for a single-family estate home in the Northwest in 2010. "Our home had been on the market for almost four years without any significant buying interest. Selling had become a dilemma and we realized we had to take a more proactive approach," said Charles Lytle, President of Lytle Enterprises and owner of the Mercer Island estate in a press release.

This home has some incredible details. The indoor saltwater pool has a cloud mural and Egyptian-style columns that have been specially treated to look aged. A Dale Chihuly chandelier spiraling twelve feet of crystal hangs over a marble floor in the entry. The house is full of inlaid stones, marble fireplaces and everything is done on a grand and ornate scale. It has four bedrooms but with nearly 23,000 sq. feet of space much of the space is devoted to waking pursuits. There are two wine cellars, an exercise room, massage and tanning room, music room, steam room, sunroom and a dining room with a gleaming gold leaf ceiling. The master suite has a raised platform bed, a marble fireplace and a bathroom where the tub is set on a pedestal and has a chandelier over it. Outside there is a saltwater pool and 175 feet of waterfront including a boat dock that can accommodate a 140 foot yacht. No word on who the lucky new owner is.

Gallery: The Lytle Mansion

Tags: lytle mansion, LytleMansion, mercer island, sheldon good, washington real estate

Filed under: Estates

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Reader Comments (Page 1 of 1)

Frank ODonnell Jul 27th 2010 7:25AM

Times are not so good, 70 % discount, maybe it will recover someday but seems
like the Rich are stressed out also !

pbihomes Jul 27th 2010 8:14AM

we need to tax the poor some so this kind of thing doesn't happen. tax dog and cat food the poor spend more feeding all their animans than on their kids. Tax lottery tickets

Nick Jul 27th 2010 10:29AM

you can look all you want at this gross ugly house......................
he is lucky hesold it. probably to some other braggert...

the true heros in this world are gates/melinda......buffert this is big money witha big heart.....................these are the names everybody knows...................

yes there are other big money people who dont get media they prefer the quiet
giving GOD bless them all..............................

I always pray please GOD dont create more cultured buffoons............

LAMAR C CHAPMAN III Jul 27th 2010 11:27AM

HEY AMERICA!!!!!! We are so foolish!!!! If this house was worth 24 Million it would have sold for 42 Million and not 12 Million. The Media, Marketers and Manipulators are still playing with WE THE PEOPLE!!!!!! WHEN WILL WE EVER WAKE UP?

Lamar C. Chapman III
Solo Fides (Only by Faith)
Crown-of-Life Recipient 10-24-2004
Sacredotal Ordination July 11, 1991

alexisamore Jul 27th 2010 1:23PM

AOL headline editors, learn some writing fundamentals (and, because it was a pickup piece, improved reading comprehension wouldn't hurt either).

Things do not sell "for a" ... discount; they sell at a discount. The so-called "deep" discount on the house in the piece was [40 - 12 =] $28 million; but the Mercer Island property did not sell for $28 millon. So a more precise headline in standard (news headline) form would have read:

Once $40 Million, Mansion Sells At Deep Discount

But that's not quite accurate, either. The house was not "once $40 million" since it never sold for that - asking - price. A quotation would be standard-copy way to represent an "ask" (a listed...as opposed to at-market) price. So we have:

'$40 Million' Mansion Sells At Deep Discount

Or, more interestingly, since it imparts the sense of loss attempting to be conveyed:

'$40 Million' Mansion Goes At Deep Discount

Editor might also have better picked up on the erring (by byline writer) inside the piece: the nowadays-commonplace, mindless aping of real estate ad speak in the place of accurate news reporting: ... the use of industry-patented pitch terms (in lieu of standard or credible word selection), such as: "realtor" (for real estate agent) and "list price" (for ask price), and (most insidiously of all ... since, over the years, it has warped, destroyed and converted to pap the meaning and significance of a once-vital concept in our society) the "realtor" word, home, for house.

debi Jul 27th 2010 3:31PM

Besides the fact it's pretty awful looking, I bet the couple who built it never used most of the rooms, which is a sad life. I would maybe pay 1M for it. Think of the good things they could have done with the money they used to build this ugly mansion.

chippewapartners Jul 27th 2010 3:56PM

I've come to the conclusion that nobody cares they JDGAS. The people of this country aren't even willing to take control of the inevitable collapse. Don't worry about society as you knew it, it’s going to collapse as others want it to. Your waiting will all be over, and the new boss just like the old boss can tell you what to do.

America isn't ready for revolution, they can't even keep the fork away from their mouth or put down their cancer sticks. America doesn't have the stomach. People aren't even willing to face their fears.

So America go ahead, cower, hide, run, ignore, bloviate and sound upset and do anything but face the real problem. Risk your job, your comfort, and your relationships to stand up for what you believe? Nope, not now you say. You'll just leave that to someone else right? Can't I just send a few emails, make a phone call, or rail at the relatives over family get togethers?

Wake up.

I'm not sure slave nation USA has it in them.

Alexander Treutler Jul 27th 2010 4:22PM

Yep, I agree with the comments so far.

As long as people adore and fawn over the Golden Calf religion, and read the latest Forbes lists of self-indulgence, we are doomed.

And the nouveau-rich don't get it either: you can't take it with you.

Lisa Bartholomew Jul 27th 2010 8:27PM

Not worth even $12 million in my opinion. What a waste of money. That money could do something for others less fortunate. Nobody needs this kind of house while children are starving in this state of Washington.

Hector Jul 28th 2010 1:48AM

EACH TIME - I READ OR HEAR ABOUT ALL THE FALSE PRIDE OF MAN AND SELF RIGTHEOUS WAYS OF THE NATIONS INCLUDING OUR NATION THE UNITED STATES OF AMERICA - MANY THINGS THEN COME TO MIND. I remember certain bible scriptures of the new and old testament. Why would anyone on this country want to built a $40 million dollar home or any country to me is not a puzzle but is a demonstration that man is sinful and that regardless if people know they have to poop. The worthless ways of man are shown all around us in this world. Even if people give donations because of either tax right offs or their hearts. Building a $40,000 dollar property to me shows that such persons have no dignity. There are massive people in need in the streets of greater Puget sound and also in regards to employment and contractors. Pretty much when people choose to built such expensive properties they are not really providing employment to those whom need it the most period. Instead they are providing employment for those whom are also involved in contracting business and are also very wealthy. I consider such things a shame and in regards to real estate - most people in this nation be caucasians or non caucasians cannot afford a $40,000 and I consider an insult those whom built such places and say this to their shame. They all will have to give an account to the creator of the Heavens and the Earth just like everyone else period.

REVELATION 18-19 And they will weep and throw dust on their heads to show their grief. And they will cry out, "How terrible, how terrible for that great city! The shipowners became wealthy by transporting her great wealth on the seas. In a single moment it is all gone."

Hector Jul 28th 2010 1:56AM

We the people need to get together and boycott all these monsters whom are claiming that the American Dream is greed and that if you do not make it in America is because you did not took opportunities and turned them into money and greed. The nation has become like a hunted house for greed and is falling apart all around us while monsters continue with their corruption and greed. The constitution of the United States of America does not give room for their treason. Treason against the constituion of the nation is also those enemies whom take their citizenship of the country for greed and extortion claiming that such is free enterprize and treason agains tthe consitution is those corrupted politicians whom are in bed with the crooks of the world. Say no to greed and disgrace. How can anyone in Washington State or the United States or the world sleep in peace at night when their are so many people hungry and in need including thousands perhaps ( 20,000 ) on the streets of Washington state alone without counting those on food stamps and welfare? This type of thing shows not only the greed of man but also the foolishness of man. When massive inflation hits this nation then What are the greedy monsters going to do? Their palaces and mansions will not be able to pay for their needs on a fully collapse dollar because of their schemes.