Lake Tahoe estate asks $100M in bid for Nevada record

Bluth Development’s Chuck Bluth with Lake Tahoe (LinkedIn)

A massive Lake Tahoe estate hit the market asking $100 million and could be Nevada’s priciest home sale ever.

Bluth Development founder Chuck Bluth and his wife, Cindy, spent around $26 million building the roughly four-acre estate in the early 2000s, the Wall Street Journal reported.

The 20,000-square-foot, four-bedroom home is Nevada’s most expensive listing, and would set the state’s sale price record if it closes at or near asking, listing agent Jean Merkelbach of Engel & Völkers told the outlet.

The property includes a private beach with about 400 feet of lake frontage. There’s a marina with a floating dock and about 12 boat slips just off the grounds, which include two guest cottages.

Merkelbach told the Journal that Nevada’s ultra-luxury market has swelled in popularity in recent years, as the state offers lower taxes than California. Nevada has no state income tax, inheritance tax or estate tax, and fairly low property taxes. (Sales taxes are high, but that is of little consequence to high earners.)

A Zephyr Cove mansion notched Tahoe’s highest sale price for a single-family home when the 210-acre property sold for $48 million in 2013.

However, a listing that hit the market in September appeared to have the state’s record in its crosshairs.

“Nagi Tanka,” a property in Incline Village, named for the Lakota term meaning “Great Spirit,” asked $60 million for two parcels of land totaling 5.3 acres. The offering included a nearly 13,000-square-foot home overlooking the lake, a 3,800-square-foot guest house and a shared pier.

Another contender was the ranch featured in the TV series “Bonanza.” It hit the market in 2020 but fell short of the record, ultimately selling for $38 million.

[WSJ] — Ellen Cranley