Mark Zuckerberg estate in Tahoe City
As a longtime Lake Tahoe resident, I have experienced dramatic changes every year to one of my favorite places in the world. This gorgeous mountain lake located in the Sierra Nevada Mountains, anchoring California and Nevada, is continuing to develop at a steady pace.
Record-breaking real estate acquisitions continue despite significant drops in prices for lakefront property on the California side and Incline Village on the Nevada side driven by tech billionaires from nearby Silicon Valley. Once Mark Zuckerberg purchased his massive lakefront property, numerous tech execs followed, with over 30% of new buyers being from the tech industry.
While new buyers are entering the market, old money is departing the area, taking advantage of the huge investment returns. Billionaire Larry Ellison recently abandoned his Nobu Hotel and Sensei Hotel development plans and also sold his large Glenbrook estate for $20 million.
Mark Zuckerberg lakefront estate
Mark Zuckerberg Expands Compound in Tahoe City
In 2018, Meta Billionaire Mark Zuckerberg bought two adjacent estates on the west shore of Lake Tahoe for a total of $59 million. The tech titan is currently in the middle of a massive property renovation, having demolished both estates to create a seven-building compound.
Zuckerberg first bought the iconic Carousel Estate in Tahoe City in 2018 for $22 million. Soon after, he acquired the historic Brushwood Estate next door for $37 million. The purchase brought his holdings to 10 acres of land and 600 feet of prime lakefront. The Carousel property has been removed as part of the new build.
The new plans for the compound include a 20,000-square-foot, 35-foot-tall main residence with a timber and glass facade. Other approved construction from the county consists of a new bunkhouse, a gym, a gatehouse, multiple guesthouses, and offices. Plans also reveal nature trails, bridges, stone walkways, and bear-resistant trash sites, for a total of 75,000 square feet of development.
Guests at a swimming pool at the Cal Neva Lodge on the shore of Lake Tahoe, USA, 1959. It was owned … [+]
Larry Ellison sells Cal Neva Lodge and abandons Nobu Hotel plans
McWhinney, a Denver-based real estate investment company, recently acquired the famed Cal Neva Lodge property from Oracle billionaire Larry Ellison. The new buyer revealed plans to turn the historic site into a Proper Hotel, a luxury boutique chain with locations in San Francisco, Los Angeles, and Austin, in partnership with the Kor Group.
The new Proper Hotel will include a spa & fitness center, pool, cabins, pickleball courts, a renovated theater, and 216 hotel rooms. 52 rooms will be custom Villas. There will be a total of 11 structures with 38 units, along with 164 rooms in the main hotel tower.
Originally built in 1926, development plans reveal they will keep the original…
Read More: Lake Tahoe Billionaire Real Estate—As Mark Zuckerberg Builds Massive New
