Oprah Winfrey just quietly came up another couple of million after selling her Orcas Island estate for $14 million.
The media mogul sold her 43-acre waterfront home for $5.7 million more than what she paid for the estate in 2018, the Seattle Times reported. Back when Winfrey acquired the property for $8.3 million, it was deemed a “passive” investment for the billionaire businesswoman.
Now Winfrey just recouped the benefits amid a buyers’ market within the real estate world.
“The pandemic has fueled buyers like never before to properties on islands and waterfront. It’s given a much deeper appreciation for them,” said Jen Cameron, the real estate agent who represented the unnamed buyer. “I also think they’re extremely difficult to find right now.”
Dubbed the Madroneagle on Orcas Island’s Catspaw Lane in Washington, the estate sits atop a hillside. The four-bedroom, five-bath home is fully gated and comes decked out with a wine cellar, two fireplaces, a guest house, and a half-mile worth of breathtaking shoreline.
Elsewhere at the “gated island sanctuary” are several other houses, a greenhouse, a huge shop, and a mother-in-law’s apartment. Amenities include an entertainment room, library, large office, sauna, and an Asian garden, the New York Post reported. The home’s features include heated floors, a wood-fired pizza oven, rare woodwork, and luxury kitchen appliances.
Sources familiar with the massive deal say it’s the highest- paid price for an Orcas Island property, Biz Journals reported.
The property was first put on the market in 2019 at $12 million but failed to sell at that price. But after keeping at it, Winfrey ended up selling for $2 million more than she initially bargained for. When it comes to why Winfrey sold the property, it’s likely because she was rarely there to enjoy it.
“They just figured she’s too busy and never going to really use it, and that’s why they were willing to sell it,” said Orcas Island broker Wally Gudgell.