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When A $32M Mercer Island Home Becomes A $13M Mercer Island Home

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As Whale Week rolls on, today we take a look at what happens when a would-be whale comes face to face with reality and realizes they're still swimming with the sharks.

In October 2010, David and Becky Sandwith opened the doors on their mansion at 4137 Boulevard Place on Mercer Island. After six years of construction, the Gelotte Hommas-designed, 14,000-square-foot waterfront home, which was valued at $32M before completion, was expected to be the toast of the town. Or at least the island. Having retired at 40, it was supposed to be David Sandwith's dream home.

Less than a year later and having never been lived in, the home hit the auction block.

According to Sandwith himself, the timeline of the project was stretched out due to his own high standards and by the time lengthy permit processes were completed and various add-on plans were scrapped, the market had tanked and it no longer seemed feasible to live there.

After no one bit in the auction, the price came all the way down in November 2011 from $28M to $18M. And still no one wanted it.

For the next year, a couple false starts kept the process in motion until, finally, one of the most expensive homes in the Puget Sound area sold. In December 2012, Jay Deutsch bought the property for "only" $13.2M. Finally, the seven bedroom mansion on the shore of Lake Washington has someone to enjoy its movie theater, hot tub, 30-foot moorage, wine cellar, gaming room, man cave, pool and cabana.

· Mercer Island mega-manse owners revealed [PSBJ]
· Giving Up on the Dream [WSJ]
· Mercer Island mega-manse price is cut significantly [PSBJ]
· The saga of the Mercer Island mega manse ends with a $13.2M sale [PSBJ]
· Mercer Island Mega-Mansion Finally Sells For $13.2 Million [Curbed Seattle]
· All Whale Week 2013 coverage [Curbed]

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