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Waterfront Home Goes on the Market for $15.75 Million

Having raised three children, Brian and Stephanie Shay are looking to spend more time in warmer climes in the Tampa area and have listed their Mercer Island waterfront home this fall.  

Set on three-quarters of leveled acre on nearly 100 feet of water frontage, the over-6,000-square-foot home is listed for $15.75 million. Its location on the north end of Mercer Island affords this majestic property 180-degree views from Bellevue to Seattle.  

“There aren’t so many waterfront properties. This one is very unique in that it is on a very leveled lot,” said Tere Foster of COMPASS, who is the listing agent along with Moya Skillman. “It is what most people want. It has that wide view. It has expansive views around 180 degrees. You have sunsets and you can also see the sunrise. 

“There aren't a lot of waterfront properties on the market. To have something that is move-in ready, this is not a fixer it is not a major project, is truly rare.”  

Brian, a wireless industry veteran started his career with Motorola in 1982. He would move on to New Vector in 1984 which rebranded to US West Cellular, which would spin off its cellular division as AirTouch Communications. AirTouch would sell to United Kingdom-based Vodafone, which in turn merged with Verizon and Bell Atlantic to create Verizon Wireless. He joined AT&T in 2004, rising to Vice President of Sales in 2014, then additional responsibilities for distribution in 2015.  

The Compass listing says, “For those seeking an exceptional waterfront lifestyle, this gated Ben Leland estate on a level .75± acre boasts 98± feet of waterfront, a spectacular dock that accommodates a large yacht, plus two covered slips and a panorama of views of both the Seattle & Bellevue skylines.”  

“Four ensuite bedrooms including a primary suite with sweeping views and spa-like bath.” The listing also says the property features a recreation room with lake access, a bonus room, pickleball court, hot tub, two jet ski lifts and a sandy beach.  

The home also features a 750-bottle wine cellar and four fireplaces, among other amenities.  

Foster said the market for homes such as this unique luxury waterfront property remains strong, despite rising interest rates and a softening real estate market. The property is marketed globally. Foster adds that as many as over 60 percent of new local luxury home buyers are coming from California for tech jobs.  

“People are coming to the area,” Foster emphasizes. “(Rising interest rates) do not impact this kind of buyer. If they get a loan on a property like this, it is not a large loan.”