Microsoft co-founder Paul Allen has sold a 292-acre private island near Anacortes, selling the property for $8 million.
That may seem like a lot of coin for a largely desolate island in the San Juan chain, accessible only by boat, seaplane and plane.
But Allen listed the property for sale in 2005 for $25 million, reducing the price to $13.5 million a few years later.
There were no takers, until Dec. 20th when an undisclosed buyer purchased it for $8 million, according to Northwest Multiple Listing Service data. Allen paid $3.7 million for the land in 1992.
The Seattle Times reports that the buyer is from the Seattle area, and there are plans for about 10 to 12 homes on the island. The Multiple Listing Service indicates that the land is made up of 44 tax lots.
Known as Allan Island, it is located just southwest from Anacortes. The island is named after William Henry Allen, who was killed while commanding the USS Argus during the War of 1812, according to Wikipedia.
“Enjoy outstanding building sites with beaches overlooking Rosario Strait, the Olympic Mtns, & Strait of Juan De Fuca,” says a description. “Log-style home for caretakers quarters located near the dock with water, septic, and generator.”
Allen never built his dream home on the island.
But don’t feel bad for the billionaire. As you may have heard, he just dropped $27 million on a 22,000 square foot mansion in Silicon Valley’s tony Atherton community.