Telecom mogul Bruce McCaw's sprawling Seattle mansion has finally sold after being on the market since 2022, but at a massive discount. The five-bedroom property in Hunts Point, a town on the eastern shore of Lake Washington, originally listed for $85 million in spring 2022. After failing to sell, it was relisted for $70 million in 2023, and finally sold last week for just $38 million—$47 million below its original price and $16 million under its assessed value, according to the Seattle Times.
Property Features and History
The estate boasts more than 300 feet of Lake Washington shoreline, space to land a seaplane and a 150-foot yacht, a swimming pool, and a tennis court on over four acres of land. McCaw told the Puget Sound Business Journal that he designed the private dock himself. The home, built in 1995, was originally designed for iconic saxophonist Kenny G (Kenneth Gorelick) by Los Angeles architect Richard Landry.
Craig McCaw, Bruce's brother, purchased the home in 1999. While the sale price was never disclosed, it had been listed prior to the sale for $26.5 million. Bruce McCaw, who founded Horizon Airlines and Bellevue-based aviation insurance company Forbes Westar, acquired the property from his brother Craig.
McCaw Family Background
Craig McCaw, now chairman of property firm Pendrell, is one of four sons of John Elroy McCaw—Bruce, Craig, John, and Keith—who all worked in the family business as salesmen. Following their father's death in 1969, the brothers transformed the company into McCaw Cellular, which later sold to AT&T for $12.6 billion in 1994.
Bruce McCaw served as president of the PacWest Racing Group, director on the board of Championship Auto Racing Teams, and co-founded the Auto Research Center in Indianapolis, according to the Living Legends of Aviation. He, his wife Jolene, and their three children received Seattle's First Citizens award and the Woodrow Wilson award for Corporate Citizenship in 2009.
Other Sales in the Area
The 12,600-square-foot home, which includes a beach house, staff house, and cabana, is not the only property in the area that struggled to sell. Weeks earlier, former Seahawks wide receiver Sidney Rice, 39, sold his Lake Sammamish home for just over $6 million—$2.2 million short of its assessed value. The 9,300-square-foot Colonial-style home was sold to a private couple.
