Mansion relisted at ‘bargain’ $8.2M
The “Waterfalling Estate” in North Hilo, listed for sale for $26.5 million in 2013 and for $10 million in July, has been relisted for a “bargain” $8.2 million price. The 11,000-square-foot mansion includes a helipad, an Olympic-size pool and tennis and basketball courts with seating for 450 spectators.
A wealthy couple who paid almost $6 million last year for an extravagant Hawaii home with a helipad, tennis stadium, small golf course and a cliffside waterfall overlooking the ocean is offering a "bargain" for the estate.
The owners, who relisted the North Hilo home for $10 million in July just three months after buying the property dubbed Waterfalling Estate, have cut their asking price to what a sales agent describes as a bargain: $8.2 million.
"This is a total trophy property," Kelly Moran, principal broker of Hilo Brokers Ltd., said in a press release Tuesday announcing the offer. "At $8.2 million, this estate is now priced at a bargain."
Moran said the owners, Charles Floyd Anderson and Sharon Ann Anderson of Kansas City, Mo., decided to sell to be closer to their grandchildren in Missouri. "This is a lifestyle choice, primarily," Moran said. "They’re very rooted in family."
The brokerage firm touts that the estate is on the market for less than a third of its previous $26.5 million listing price in 2013, though no mention is made in the press release of what the current owner paid for the property in April.
Whether the new list price is a bargain is, of course, debatable.
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By definition, a bargain is a thing offered, bought or sold at a price favorable to the buyer, according to Webster’s New World Dictionary. Other dictionaries define a bargain as something offered or sold for less than is usual or expected, or less than full value.
The estate attracted national attention last year due to heavy marketing by New York-based luxury real estate firm Concierge Auctions, which auctioned the property with no minimum price for a Hawaii island developer and a partner who built the home in 2011 on 9 acres zoned for agriculture and once planted with macadamia nut trees.
Living space in the three-story mansion totals about 11,000 square feet. Other features include the helipad with three landing spaces, a pneumatic glass elevator in the home, an Olympic-size infinity pool and a tennis and basketball court with seating for 450 spectators.
Moran has said the home was inspired by the designs of famed architect Frank Lloyd Wright, who is known for his Fallingwater home created over a waterfall in Pennsylvania.
