Former VP at IBM Retains Platinum Luxury Auctions for Sale of “Smart Home”

Ridgefield, CT Property Boasts Extensive Home Automation Features

On July 28tha luxury home in Ridgefield, CT with a home automation system that has garnered exposure in media outlets such as Bloomberg BusinessWeek, Archi-TECH Residential and Tech Home Builder, will be sold at a live auction. Although once asking $4 million, the residence will now be sold without reserve, meaning the highest bidder will prevail, regardless of the high bid amount. The property owner, John Russell Patrick, retained Miami-based auction firm Platinum Luxury Auctions to handle the sale. Platinum is working in tandem with the property’s listing agent, Harry “Chip” Neumann, Jr. of Neumann Real Estate, for the transaction.

Mr. Patrick, who is a former vice president of IBM and a founding sponsor of the World Wide Web Consortium at MIT in 1994, was involved in the development and growth of the Internet. His tech background, combined with the fact that he also authored a book entitled, Home Attitude: Everything You Need to Know to Make Your Home Smart, makes it no surprise that Mr. Patrick developed a very tech-centric, automated residence for his family.

“Whether you want to change the temperature, adjust lighting, open the garage door, or even create custom responses to incoming visitors or a change in weather, you can do it with the simple press of a touchscreen,” stated David Ashcroft, Platinum’s director of business development.

A series of one-touch, wall-mounted digital panels located throughout the home provide control over the automation system. In addition, sensors throughout the property are set to trigger customized commands in the event of snow, rain or the arrival of guests. A 25-kW generator and battery backups assure power is uninterrupted, even in inclement weather.

Despite all of its tech features, the property does not present itself as a “techie” home, and instead offers an elegant, traditional design with an ambiance of relaxed luxury. Situated on 2.7 manicured acres, the residence is approx. 6,800 sf, with 5 bedrooms, 3 full and 2 half baths.

Built in 2002, construction emphasized the use of reliable, low-maintenance materials. The home’s siding, shingles, and exterior trim are constructed of components that are especially impervious to weather.

Interiors feature handsome wood molding and hardwood floors. A large, mahogany-paneled office – designed by a leading architect in workplace planning – maximizes productivity. There is also, 1,700 sf of “bonus space” ready for custom completion, as well as an attic offering another 1,267 sf of flexible space.

An attached, 5-car garage is complimented by a detached, 2-car garage that includes a space ideal for use as a studio, office or “man-cave.”

The home’s grounds and outdoor living areas include a 60-ft pond, in-ground spa with rock waterfall, multiple gardens and a gazebo (plans are available for an in-ground swimming pool). Nearly 6,000 sf of paved driveway and 3,000 sf of stone terraces and walls serve to enhance the beauty of the landscaping.

Open house previews of the property are available between the hours of 12 and 5pm ET daily, through Friday, July 27th. For information on property previews, bidder registration or other auction procedures, interested parties may visit ConnecticutLuxuryAuction.com, or contact Platinum’s project manager, Walter Cerini, at 800.745.8323.

IBM exec’s Ridgefield ‘smart home’ has attitude

Former IBM Vice President John Patrick’s Whipstick Road home in Ridgefield will be auctioned off by Platinum Luxury Auctions on July 28. Designed by MacMillan Architects in collaboration with Phoenix Audio Video of Fairfield, the “smart house” features fully-integrated home automation.

 

Check out the full Habitat article by Anna Quinn here.

 

 

Smart Ridgefield Home Goes To Auction on July 28

A Home with Attitude: 117 Whipstick Road Goes to Auction on Saturday, July 28 at 4:00 pm.

Automation behind the scenes makes this stunning shingle style residence technology savvy (yes, it’s really [very] smart). Owned by Internet Pioneer and author, John Patrick, 117 Whipstick Road is his brainchild and brings “Home Attitude”, Patrick’s newly released book, to life.

Featured in Business Week and most recently in Mansion Global, the five-bedroom home boasts distinguished architectural features, custom millwork, arched panel doors, hardwood floors, radiant heat, high-quality cabinetry, many built-in special features. An acclaimed office and custom five-car garage, complete the perfectly efficient package.

Now, the absolutely stunning home is in the hands of Platinum Luxury Auctions. Property Previews are currently taking place daily from noon to 5:00 pm until July 28. Registered bidders only. Contact Platinum to obtain registration information.

The former IBM VP shared thoughts on the upcoming home auction on his Blog saying, “After being married 50 years, we are happy to live anywhere, but the big house became more than we needed. We decided to downsize to a Toll Brothers carriage house about 12 miles away.” Patrick adds, “Now the question is how to sell such a special home. As I told the Wall Street Journal, I like the auction model because it is action-oriented.”

“Some say an auction is a risky approach to selling a home. I say relying completely on the traditional home selling method is also risky as the carrying costs mount. One is wait and see, the other is make something happen through an aggressive marketing program and professional handling of bidder interest. I will know if it was a good decision on July 28. I am optimistic. If you have a friend who is looking for a Ridgefield, Connecticut outpost, please share this with them,” says Patrick.

See the full article, written by Kerry Ann Ducey, here.

Former IBM VP To Auction His Tech Savvy Home

John Russell Patrick’s fully automated home, once listed for $4 million, will go under the hammer, without reserve, on July 28

ORIGINALLY PUBLISHED ON JULY 12, 2018 MANSION GLOBAL
John Russell Patrick, former IBM vice president, will auction his 2.7-acre estate on July 28.

The 6,800-square-foot mansion in Ridgefield, Connecticut, features fully integrated home automation, which Mr. Patrick helped design from scratch. Platinum Luxury Auctions is overseeing the auction.

Mr. Patrick, 72, is a founding sponsor of the World Wide Web Consortium at MIT in 1994, where he was heavily involved with discussions about the birth and subsequent growth of the internet. As tech-savvy as they come, Mr. Patrick channeled his technological shrewdness into the construction of his brilliant home, equipped with a uniquely sophisticated system. Platinum Luxury Auctions produced a video that highlights the home’s impressive features.

Mr. Patrick, who authored the book “Home Attitude: Everything You Need to Know to Make Your Home Smart” and worked for IBM for 39 years,  is an expert in home automation.

Mr. Patrick noted that his home’s smart technology offers state-of-the-art energy conservation, home security, and convenience. “I wanted technologically advanced features and infrastructure in the home that would last for decades,” Mr. Patrick told Mansion Global.

“There are miles and miles of hidden network cables,” Mr. Patrick said, explaining the complex inner-workings of such a unique home.

According to a news release, the system is controlled through one-touch, wall-mounted digital panels placed throughout the home. “From these stations, everything from the garage doors to the waterfall in the seven-seat spa can be controlled with a fingertip, and sensors have been strategically placed to trigger customized commands in the event of snow, rain, or the arrival of dinner guests.”

The unconventional innovator that he is, it is unsurprising that Mr. Patrick grew impatient with the traditional “wait-and-see” method of listing real estate on the market and hoping someone bites. After listing and relisting his home over 10 times since 2013, he chose to auction his fully-automated home live, without reserve, in late July. The home was last listed in April for just under $2 million.

The home, once listed for $4 million, will soon be at the mercy of a live auction.

“It’s going to be up to the bidders,” Mr. Patrick said, acknowledging the risk associated with a live auction model. “But doing nothing is a risk, too. I savor this approach, it’s more likely to get results.”

Plus, he added, “we are very optimistic about the approach we are taking,”  referencing internet traffic on the real estate listing site Zillow, direct email inquiries, and views on the auctioneer’s professional video.

The home, although exceptionally smart, is quite beautiful, too, but Mr. Patrick conceded, “My wife had more to with that than I did.”

According to the listing, the residence offers custom mill work, arched panel doors, and hardwood floors.

In 2002, when Mr. Patrick completed the home, the property received considerable attention in the media, according to Mr. Patrick. Once featured on Businessweek TV, the home includes a 60-foot koi pond, an in-ground spa with a waterfall, gardens, a gazebo, and an office with custom South African mahogany.

The home will be auctioned on July 28, but, as the auction approaches, Mr. Patrick expects substantial feedback from bidders.

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View full article and photos here.

Ridgefield, CT Estate with Award-Winning Gardens Scheduled for Luxury Auction® June 29th

Following the successful sale of a 10-acre country home in Redding, CTMiami-based Platinum Luxury Auctions has announced another, upcoming real estate auction in the town of Ridgefield. On June 29, 2018a stately suburban residence that once asked as much as $2.85 million will be sold at a live auction to the highest bidder who meets or exceeds the auction’s reserve price of $1.1 million. Platinum is conducting the sale in partnership with the Al Filippone Associates team at William Raveis Real Estate, represented by listing agent Andrew Whiteley. Platinum and Whitely also collaborated for the sale of the Redding property on June 9th.

The English-style, stone manor in Ridgefield, CT is set on 3.6 acres and offers 4 bedrooms and 4.5 baths in nearly 6,000 interior square feet. Built in 1911 and fully renovated in 2005, the residence boasts an impressive provenance. It was originally designed for Arthur C. Fraser (a prominent New York patent attorney) by Grosvenor Atterbury, a Yale-educated architect who specialized in weekend homes for the wealthy and had a collection of high-profile clients that included the Rockefellers.

In addition to the residential structure, the property’s grounds also have famous beginnings: the gardens were designed by Warren Manning, a well-known landscaper famous for his contributions to the 1893 Chicago World Fair and his work on the Biltmore Estate. Manning gave the gardens an 18th-century, “English romantic” style which earned them a feature in a Garden Club of America tour in 1927.

Today, the home’s outdoor living areas include a “sunken garden” outdoor lounge with a koi pond, surrounded by extensive gardens and various plantings. The gardens’ blend of contemporary designs with the preservation of some of Manning’s original “wild garden” plantings earned them a place in the Garden Club of America Collection at the Smithsonian Institution’s Archives of American Gardens (AAG) in the fall of 2017.

“We’re looking forward to extending our series of successful auction sales in Connecticut with this impressive home,” noted David Ashcroft, Platinum’s director of business development. “It offers such incredible value, some of our own team members have even remarked they might place a bid.”

Platinum, a firm that specializes in the non-distressed auction sale of multimillion-dollar homes on behalf of their owners throughout the country, has been conducting more business in the state during the past few years, and has experienced an uptick in inquiries from Connecticut homeowners, according to Trayor Lesnock, its president and founder. “Given the way the economic landscape and the luxury residential markets have changed in Connecticut, we’re pleased to be seeing 5, 6 and 7-bidder audiences at our auctions. We know there are many frustrated sellers here looking for a sale, quite a few of whom seem to own multiple properties in Connecticut. They’re ready to do something better with their capital than have it languish in a residential home.”

Prominent features of the Ridgefield property include a cozy, gourmet kitchen with commercial-grade appliances and wood-burning fireplace, formal living and dining rooms, indoor conservatory, game room, and a large master suite with beautiful views of the surrounding landscapes. Historic elements such as original flooring and wood-burning fireplaces are balanced with modern features like Swarovski doorknobs and a whole-house water purification system.

Open house previews of the property are being held from 12-4pm daily through Thursday, June 28th. For information on property previews, bidder registration or other auction procedures, interested parties may visit CTLuxuryAuction.com, or contact Platinum’s project manager, Tawny Wolf, at 800.785.3119.

112-Acre “Emerald Hills” Estate in Charlottesville, VA Set for Luxury Auction® June 23rd

Platinum Luxury Auctions Presents Rare Estate, Influenced by Monticello & Mount Vernon

On June 23rd, a 112-acre Charlottesville estate that was influenced by Thomas Jefferson’s Monticello and George Washington’s Mount Vernon will be offered for sale at a live auction. The stately property and its collection of outbuildings were custom built by the current owners at a cost of approximately $20 million. At auction, the property will be sold to the highest bidder above a reserve price of $5 millionMiami-based real estate auction firm Platinum Luxury Auctions is handling the sale in cooperation with Virginialisting brokerage McLean Faulconer.

Emerald Hills is a beautiful and private retreat that is the perfect getaway for the high-powered executive or financial professional, and is especially well-suited for those with large families,” stated David Ashcroft, Platinum’s director of business development. “Considering you cannot reproduce this property today for anything shy of $20 million, the value opportunity presented by the auction is quite impressive.”

Built over the course of four years – and with an emphasis on quality craftsmanship and exacting detail – Emerald Hills is situated on 112 gently rolling acres in Charlottesville, Virginia. Overlooking hardwood forests, a private lake, and the Blue Ridge Mountains, the estate is a stunning example of Neoclassical architecture, with design influences from iconic American structures such as Thomas Jefferson’sMonticello (which is located just 15 minutes south of the Property), George Washington’s Mount Vernon, Carter’s Grove and even the White House.

The layout of the primary residence, with its main structure connected to northern and southern dependencies by a series of curved hyphens, is closely modeled on Mount Vernon. Interior details from the current White House have been reproduced throughout the home, including aspects of the dining room and the western colonnade, the latter of which mimics the south facade of the White House, overlooking the Rose Garden.

Lush, manicured grounds surround the estate, and include 1,000 dogwoods, redbuds and crape myrtle trees in addition to formal gardens, fountains and a 100-ft soapstone reflecting pool. A private lake, two ponds, a stream, and several brooks with springs exist on the property grounds. There is also a vegetable garden modeled on that of Thomas Jefferson, with four, 100-ft x 8-ft raised beds, connected by Shenandoahbrownstone walkways. A home orchard of more than 100 trees (including peach, cherry, nectarine, plum and apple) complements the savory plantings.

Within the main estate, three living levels offer approx. 15,000 sf of interior space, with a total of 5 bedrooms, 6 full and 2 half baths. All bedrooms are ample in size, and feature en-suite baths. Prominent features include a magnificent foyer with dual staircases, stately salon with lofted ceilings, gourmet kitchen, his-and-her offices, a private study, and a lower-level entertainment lounge offering a pub, billiards area, wine cellar, theater and sauna. In the event of severe weather, the residence can be powered by a 125kW Caterpillar generator, which is housed in a “bunker” that is carved discretely into the grounds.

In addition to the main residence, the property includes several outbuildings: a carriage house (with 2,000 sf of living space and 2,700 sf devoted to housing up to 10 trophy vehicles), flower house, log cabin and a large-equipment barn with a staff apartment.

Emerald Hills is sub-dividable, should the new owner elect to do so, and the property also offers the opportunity for a substantial agricultural tax abatement if the grounds are placed into a farm/conservancy program.

For those buyers looking to augment the property beyond 112 acres, an additional five parcels – which offer a total of 36 additional acres and include two guesthouses – can be purchased separately and outside of the auction. While no firm price has been set for the additional properties, Platinum stated that they are available “via private treaty negotiations with the seller.”

Previews of the property are being held by private appointment between the hours of 12 and 5pm ET daily, until auction day. To schedule an appointment, interested parties may contact Platinum’s project manager, Brian Raymond, at 800.767.4857. Extensive photos, video and auction/property documents are also located at VirginiaLuxuryAuction.com.

Riverfront Property Owned by Hollywood Video Founder Nears Luxury Auction® Date

Platinum Luxury Auctions Managing Sale of 32-Acre Estate on Oregon’s Willamette River

When Hollywood Video founder Mark Wattles purchased 32 acres on Oregon’s Willamette River in 1994, the entrepreneur had a vision to create a dream estate on the sprawling parcel.  Although he began to execute that vision – obtaining permits and beginning construction on a 49,000-square-foot mansion with an indoor basketball court and dual automotive galleries – his plans eventually changed, and construction was halted almost 20 years ago, prior to completion.

Fast forward to this Thursday evening at 7pm PT, wherein the property will be sold at a live auction without reserve – meaning the highest bidder prevails regardless of the price – to find its new owner. Wattles originally purchased the land for $1.25 million and stated he has invested more than $12 million into the project to date. “I don’t owe anything on it, so I could have sat on it for another 20 years…but it’s in my interest to auction it to have the widest audience,” Wattles said.

To conduct the auction, Wattles retained veteran real estate auction house Platinum Luxury Auctions. The Miami-based firm specializes in multimillion-dollar real estate auctions on behalf of clients who – like the former movie rental mogul – are not in distress, but rather elect to sell their property in a way they deem to be more expeditious and effective as compared to traditional sales methods, especially when the given property is unique or difficult to value.

“Wealthy sellers like Mr. Wattles are not an exception to our luxury auction® process, but are instead the norm,” stated Trayor Lesnock, Platinum’s founder and president. “That said, what is unique in this case is that he chose to enter the marketplace with an auction, as opposed to many other sellers who waste valuable time – often many years – failing to sell their property traditionally before electing our services. Mark and his listing agents are savvy enough to realize that his special property is best suited for a special sales approach.”

Lesnock and his team are offering the property in cooperation with listing brokerage Luxe Platinum Properties, an exclusive affiliate of Christie’s International Real Estate based in Lake Oswego, Oregon. Luxe is represented in the transaction by its CEO, Terry Sprague and co-listing agent Kendra Ratcliff.

The 32-acre property consists of a peninsular (or “point”) lot with approximately 2,700 linear feet of frontage on the Willamette River. It sits at the end of a quiet road in rural-suburban West Linn, located about 40 mins from the heart of downtown Portland.

While the dream home Wattles planned for the site was never completed, the existing framework is in impressive condition. “It looks like a project that was started only 2-3 years ago. It’s unbelievable how well maintained it is,” Lesnock noted.

Built by Tom Avgerakis, one of the Pacific Northwest’s most sought-after luxury homebuilders, the structure boasts “commercial-grade” construction, with extensive use of steel beams, concrete and treated wood. Original build plans envisioned a sprawling, tri-level estate with +/- 49,000 sf of gross constructed area. Planned features included an indoor racquetball/squash court, indoor basketball court, elevator, and a sprawling master suite with a 1,200-sf closet and private theater. The home’s lower level was designed to include two automotive galleries, each with room for up to 20 vehicles (which is in addition to the 8-car garage adjacent to the main entry).

Thanks to an active building permit, which was secured prior to the current land-use regulations that increased the setbacks for waterfront properties, the homesite offers 270-degree river views that cannot be reproduced. The property also enjoys an agricultural tax abatement that substantially reduces its tax bill.

Final previews of the property will be held from 12-4pm PT daily, through Wednesday, June 13th. For information on property previews, bidder registration or other auction procedures, interested parties may visit OregonLuxuryAuction.com, or contact Platinum’s project manager for the sale at 800.484.2513.

About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction® model for high-priced real estate auctions, and owns the trademark rights to the term “luxury auction.” The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum’s team has closed more than $757 million in luxury real estate auction sales to date, while consulting on more than $2.25 billion in additional luxury properties worldwide.

June 9th Auction Approaches for Luxe 10-Acre Estate in Redding, CT

On June 9th, a luxurious estate situated on 10-acres in rural Connecticutthat once asked more than $10 million will now be sold at luxury auction® to the highest bidder. The property, located in the town of Redding, CT and given the name Shelterfields by its owners, had previously been listed for $10.25 million, but is now slated for sale at auction without reserve, meaning the highest bid – regardless of the bid amount – will prevail. Veteran luxury real estate auction firm Platinum Luxury Auctions was hired by the property owner to conduct the non-distressed auction sale, in cooperation with listing brokerage William Raveis Real Estate. Listing agent Andrew Whiteley of the Al Filippone Associates team is representing Raveis for the sale.

“After successfully selling a neighboring Redding estate in 2017, we’re excited to be working with Andrew and the Filippone and Raveis teams on another beautiful country home in rural Connecticut,” stated David Ashcroft, Platinum’s director of business development. “The pedigree of this property is extremely impressive, and any value-driven buyer looking for a quiet place for his family or a weekend retreat from the city will not want to miss the incredible value opportunity presented by this auction.”

The original footprint of the residence is based upon a carriage house that was built in 1907. Following extensive renovations and additions, the property has been transformed into a luxurious estate, inspired by the homes of the English countryside. The property owners incorporated remnants of the original structure in the renovations, as evidenced by beautiful, exposed beams located throughout, which offer a touch of historical charm to the home’s contemporary elegance.

The two-story residence offers more than 8,500 sf of living space, with 6 bedrooms, 6 full and three half baths. A formal foyer, gourmet kitchen with professional-grade appliances, 2 en-suite bedrooms, a large family room, and a wine cellar with storage for more than 1,000 bottles are featured on the main living level.

A massive, 27-ft by 43-ft great room is connected to the main living areas by a short hallway, and features high-gloss wood floors, exposed wood beams, a powder room and a private balcony – perfect for a music room, billiards room or even a “man-cave.”

The upper level offers 4 bedrooms and multiple entertaining areas. A sumptuous master suite with private balcony, walk-in closets, and a large master bath with soaking tub and separate shower is a perfect couple’s retreat. An adjacent office and entertainment room offer space for work and play, while a sitting room with fireplace provides a private sanctuary for relaxation.

Outdoor living areas include patios both covered and uncovered, which offer expansive views of the rolling countryside. Grounds feature a tennis court, greenhouse, fire pit and private pond. Additionally, a Gunite pool surrounded by stone walls and carefully pruned trees offers a pool house with changing room. Views of the Aspetuck River and surrounding lands that have been placed into a conservation easement add to the tranquility of the estate.

Final previews of the property will be held from 12-5pm daily through Friday, June 8th. For information on property previews, bidder registration or other auction procedures, interested parties may visit ConnecticutLuxuryAuction.com, or contact Platinum’s project manager for the sale at 800.935.1168.

This Could Be Morris Co.’s Most Expensive Home After June Auction

The listing price of $6.1 million is “just for reference.” How much would you bid on this home?

By Katie Kausch , Patch Staff 

HARDING TOWNSHIP, NJ — This sprawling Harding Township home could be Morris County’s most expensive when it hits the auction block on June 1. Listed online for $6.1 million, the home could go for much more (or much less!) than the price when bidding starts.

The six bedroom, eight bathroom home sits on over 10 acres and boasts a six stall barn, luxury pool, a library, and more. How much would you bid on this mansion? Read more about it here, and visit realtor.com for even more photos.

Click here for the full story.

The inside story of Oregon’s greatest mansion never built

By Jon Bell  – Staff Reporter, Portland Business Journal

Mark Wattles had grand plans for a singular 32-acre property along the banks of the Willamette River in West Linn.

The founder of Hollywood Video had bought the property in his early 30s for $1.25 million in 1994, and by 1997, construction was underway on Wattles’ dream home, a sprawling, 50,000-square-foot mansion with three stories, underground parking for his car collection, a full-court gymnasium, an indoor swimming pool, an elevator and more.

But life and business plans changed for Wattles, and two years later, he all but stopped construction on the home. Minor projects and seasonal maintenance continued — largely to keep the building permit open — but for the most part, the home sat framed and unfinished.

For almost 20 years.

Now 57, Wattles has decided he’s never going to finish the project and it’s time to sell.

“I’ve gone back and forth over the years on whether to finish it or not, and I’ve finally made the decision that it’s not going to happen. I’m never going to finish it for myself,” Wattles said. “It was going to be my little oasis. Now it will be somebody else’s.”

The property sits at 32020 S.W. Peach Cove Rd. on the banks of the Willamette River in West Linn. Because the river makes an almost 90-degree bend there, the property offers an expansive, 270-degree view of the river and almost 2,700 feet of river frontage.

The home on the site is a long way from being finished, but it is substantially in-progress. Images show essentially a shell of a home, windowless and wrapped largely in Tyvek, a synthetic construction material that helps keep moisture out. Interior photos that were not made available for publication show the huge gymnasium with glulam beams spanning the ceiling, exposed wooden rafters and beams in various rooms and sheet after sheet of plywood on the floors and walls.

Rather than list the home with a broker, Wattles said he decided to sell it through an auction in part to attract a wider, national audience. To do that, Wattles hired Platinum Luxury Auctions out of Miami.

Trayor Lesnock, president of Platinum Luxury Auctions, said he was admittedly a tad worried about what shape the home might be in before he saw it for himself.

“I was very surprised to see the condition of it,” he said. “I did not have high hopes just because anything that’s been sitting there in the Oregon weather for that long … But it actually looks like it was built in just the past few years.”

The auction is set for 7 p.m. Thursday, June 14. It may be held at the site, but Lesnock said that could change with the weather. It will be a live auction without a reserve, meaning there is no minimum bid and the highest offer will win. Prospective bidders have to put down a substantial financial commitment up front just to participate, though their money is refunded if they’re not the highest bidder.

As for price or what the property could command, Lesnock said that with such an “exotic” site with few comparable parcels for context, it’s almost anyone’s guess.

“If it’s a 5,000-square-foot home in a subdivision of other 5,000-square-foot homes, we can get a good idea,” he said. “In this case, we have almost no expectation that would have any degree of precision.”

Wattles said he has invested about $12 million into the property.

According to Clackamas County property records, the total market value of the property is about $6.6 million, but Lesnock said that number won’t mean much at this auction.

“I would say that’s relevant to the tax man and the tax man only,” he said.

Lesnock also noted that the home sits closer to the river than is now allowed under current zoning, which gives it another unique attribute, and the 5 acres of the property planted with blueberries qualify it for an agricultural tax abatement.

As he prepares to sell his once-dream property, Wattles said he has no regrets that it never came to be. He still spends about a third of his time in West Linn, divvying up the balance between Dallas, Texas and a house in Punta Mita, Mexico. His hard-charging business days have eased back a bit, but he’s still getting after it, most recently with a Dutch Bros-inspired coffee operation called 151 Coffee that should have five locations open in Texas and Colorado by year’s end.

“I’m so far past that,” he said about possible regrets over the riverfront estate. “I was in my early 30s when I bought that land. I’m still the same business guy who likes to grow things fast, but my dreams and aspirations are wildly different now.”

Click here for a look at Wattles’ soon-to-be-auctioned property, and here to view the original story.