Austin’s Most Expensive Home For Sale Prefers Bitcoin

December 21, 2019 | Front Porch Realty

Austin’s most expensive real estate listing offers a discount to buyers paying with Bitcoin

While Austin’s real estate has a large variety of homes in all different price ranges, this home and lake front property is currently the most expensive real estate on the Austin market coming in at a cool $35 million.

It is also worth mentioning that this home seller is offering a hefty discount to any buyer that pays with Bitcoin, the newly popular crypto-graphically secure digital currency.

So what does this mean for Austin real estate market and bitcoin in 2020? While we try to unravel the possibilites of why bitcoin would be the preferred form of payment we also take a look at why this home has a whopping $35 million dollar price tag.

This Lake Austin ranch is the property of online-gaming mogul Richard Garriott de Cayeux. It features more than 2,700 feet of lake and Coldwater Creek frontage, views of the river and the Pennybacker Bridge, a 1,000-square-foot guest house, a private marina, a carriage house, a caretaker’s office, covered parking—and, of course, a replica of Shakespeare’s Globe Theatre

View Property Here listed courtesy of Austin Luxury Group

The Lake Austin Ranch is a rare, iconic property located along the shores of Lake Austin. Never before offered for sale to the public until now. This is a once in a lifetime opportunity for a very special buyer.

7400 Coldwater Canyon Drive Property Details

Location : 6.5 Miles NW of Downtown AustinProperty : 65.68 Acres of land with approximately 1/2 Mile of Water FrontageLake Austin : Approximately 22 Mile long, Constant Level, Max depth 75′, Fishing, Boating, Water Sports, Year-Round Recreation.

This 65.68 acres property, located on the shores of beautiful Lake Austin, is one of the last available large parcels of land on this pristine lake. Featuring approximately 2700 ft. of main body lake frontage and Coldwater Creek frontage, the property is considered to be of the very highest quality waterfront property in the Austin market. The property features gently sloping terrain covered in heritage pecan, cypress and oaks trees with diverse plant and wildlife. The home site rests on a bluff overlooking Lake Austin with stunning views of the surrounding canyons, downtown Austin, and the famed “360 Bridge” offering an ideal location for grand estate. Scenic trails from the home site and a secret elevator shaft lead to the banks of the lake and your private marina with eight covered boat slips, a 1,000 sq. ft. guest lake house (2BR/1Bath) with full amenities, and a 300 seat outdoor theater modeled after Shakespeare’s Globe Theater. This property also includes a large carriage house with air-conditioned storage, a caretaker’s office and covered parking areas. Only 20 minutes from downtown Austin, the property is located near top schools, convenient to stores and award-winning restaurants are just a short drive away. You can rest assured that while building the homestead of your dreams, your view of these pristine natural surroundings will remain protected as the property is located between several tracts of the more than 30,000 acres of the beautiful Balcones Canyonlands Preserve.

Other elements for consideration:– 7400 CWC Drive Tax for YE2016 was $26.5k– The low tax amount is because there is a wildlife exemption and conservation easement on the property which has been in place since the end of 2011. – This easement stipulates that this property will remain intact and can not be subdivided or partitioned.

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If you’re interesting in this property and want to make an offer you would benefit from making that offer in Bitcoin as the home seller is offering a hefty discount for any buyer that pays with the crypto currency that has recently emerged on the world stage in the last decade. With Austin being such a hot market for international buyers right now and with crypto currencies still being on the first leg of their financial inclusion this seems like a great deal for anyone flush in extra Bitcoin.

According to the Austin American-Statesman’s Omar Gallega (via the Wall Street Journal—yes, a bit of a walk, source-wise), it also includes a lighthouse, a pirate ship, a medieval village with small, portable houses. 

In addition, “Richard built a haunted forest that’s all sensored with features that jump out at you,” listing agent Gary Dolch told the Austin Business Journal’s Jan Buchholz. (Dolch and his wife, Michelle, own Austin Luxury Group and are executive vice-presidents with Kuper Sotheby’s International Realty.)

The listing suggests a cliffside location for what could be a 25,000-square-foot home—perhaps a reference to original plans for a house that size with secret tunnels and a tower that was not completed, according to Gallega.

Even more special, to many, is that the property is located between several tracts of the Balcones Canyonlands Preserve and has a conservation easement that stipulates that it cannot be subdivided or partitioned and can only be used as a single-family residence.

Garriott told the Statesman in a written statement that he has no intention of leaving Austin, and that he and his wife, Laetitia Garriott de Cayeux, will always maintain a residence in the city. Dolch told Buchholz that the couple plans to build a smaller home in Austin once the ranch has been sold.

For more info about any of these listings call or text us (512) 293-7539

For more info about any of these listings call or text us (512) 293-7539

For more info about any of these listings call or text us (512) 293-7539

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