EmeraldCay

Edra Blixseth's Porcupine Creek On The Market For $75 Million

Filed under: Estates

I've been chronicling the misfortunes of the Tim and Edra Blixseth for a while. The pair went from owning the ultra-elite Yellowstone Club and a global scattering of multimillion properties to seeing everything they built up parceled out and sold off in the fallout from their divorce. Most recently many of the antiques that the Blixseths amassed in their trips around the world were auctioned off. Edra Blixseth has also unloaded some of her jewelry.

The Wall Street Journal reports that the estate where Edra Blixseth spent many happy years is now up for sale for $75 million. Porcupine Creek in Rancho Mirage is a 249 acre estate. Blixseth declared bankruptcy but is now a shareholder in the BLX Group, the holding company for the Yellowstone Club and this home. The seller is the trustee of the BLX Group. The Blixseths built the Porcupine Creek estate together. The property includes a 25,000 square foot main residence, guest houses, a gym and spa, golf clubhouse, golf course and more. Jeff Hyland of Hilton & Hyland and Tyler Morgan of Pacific Union GMAC Real Estate in Palm Springs have the listing but an official listing hasn't hit the web yet. Any potential sale would be subject to bankruptcy court approval in Montana.

The one question on anyone's mind is, will it sell for even close to that price? The Wall Street Journal's Robert Frank who has visited the property believes that it would make a fine resort. He suggests that a company like the Four Seasons or even a resort-minded mogul like Donald Trump might be a buyer who can make the most of the home. It bears noting that $75 million was also a price Tim Blixseth was once looking for his island retreat, Emerald Cay. He has since revised his expectations and that tropical paradise is now listed at $48.5 million.

UPDATE: Thanks to Ben for leading me to the Christie's listing. The pictures aren't great but they do give a bit of an idea as to the scale of the property.

Gallery: Porcupine Creek

Tags: edra blixseth, EdraBlixseth, emerald cay, EmeraldCay, porcupine creek, PorcupineCreek, tim blixseth, TimBlixseth, yellowstone club, YellowstoneClub

Emerald Cay, Now At A Deep Discount

by Deidre Woollard (RSS feed) —

Filed under: Estates

I've seen some deep discounts recently but this has to be one of the biggest. Emerald Cay, a private island in the Turks & Caicos Islands was for sale last year at $75 million. Now you can get it for millions less. The incredible property is a luxury hideaway that is accessed via a remote-controlled swing bridge and a Turkish marble driveway.

The island is on over two acres sits surrounded by turquoise water and white powder beaches. The magnificent estate encompasses approximately 30,000 square feet of interiors all wired for everything through a Crestron system. A three-story great room has 45-foot-high cypress ceilings. There is also a three-story library, a master bedroom pavilion and an award-winning home theater.

The estate includes three guest suites, a 6,000-bottle wine cellar, two adjoining swimming pools with a waterfall, a barbecue pavilion, tennis and volleyball courts, two boat slips, a boat house, a guest house, a caretaker's home, and two private beaches. Life's short - but your quality time doesn't have to be, says Lyle Schmidek, owner/broker of the Christie's affiliate for the Turks and Caicos Islands who has listed this home at the new low price of $48.5 million.

Gallery: Emerald Cay