Mastro’s Bank Owned Estate SOLD
It’s official, prominent Seattle Developer Michael Mastro Sr.’s former Medina waterfront Estate has just sold! Listed at $9.9 Million, the house was listed to help repay 175 unsecured creditors who lost an estimated $110 Million investing in Real Estate through Mastro’s “Friends and Family Fund.” U.S. Bankruptcy Judge Marc Barreca approved the sale of $9,100,000 last week even though several of Mastro’s business associates argued the price was too low and the property hadn’t been marketed long enough. Mastro’s bankruptcy is one of the largest in Washington State’s History, most of his assets have been foreclosed on by dozens of banks that loaned him money.
The Estate was built in 1998, is approx. 7,050 Sq. Ft. and features Four Bedrooms, Three Full and Two Half Bathrooms. There is also a daylight Basement, Caterer’s Kitchen, Large Master Suite and a 1,250 Sq. Ft. Dock with three Boat Lifts. Mastro apparently paid $15,000,000 for the property four years ago in 2006.
Price: $9,900,000 – SOLD for $9,100,000
Size: 7,050 Sq. Ft.
Bathrooms: 3 Full, 2 Half
Speciality items: Built in 1998, 50,051 Sq. Ft. Lot, Waterfront, 176′ of West Facing Waterfront, Separate Staff Quarters, Boatlift, Moorage, Sandy Beach, 18 Ft. Ceilings, Caterer’s Kitchen, Venetian Plaster.
Address: 3435 Evergreen Point, Medina, Washington, United States