Kauai Real Estate Sale Biggest in Hawaii

Saturday, November 28, 2009: Entertainment executive Peter Guber sold his 174-acre property on Kauai for $28M. Tara Plantation sat on the market for 4 years. The transaction is the largest real estate purchase in Hawaii this year overall. Tara Plantation features a 15,000 square-foot house and two 4,000 square-foot guest bungalows. In 1998 Guber's Mandalay Properties Hawaii LLC bought the oceanfront site on Papa'a Bay on Kaua'i's northeast coast. He paid about $7 million for the beautifully situated acreage.
He built the quarters in 1999 to 2000. It includes a main house with six bedrooms and 8 1/2 baths. He built a caretaker's house and stables. The main residence includes a yoga studio and two living rooms. The estate also boasts a spring-fed pool. BTW if you are looking for Kauai Real Estate then I suggest Sleeping Giant as they are one of the best real estate firms on island.
All in all, Guber listed the property at first for $46.5 million. After sitting for some time he ended up lowering the price to $39.5 million. It was listed with Coldwell Banker Bali Hai Realty.
A local real estate agent, Ricky Cassiday has been quoted as saying, "It's a magnificent place.” He described the property as situated on a bay in such a way that its sandy beach is safe from large surf and provides privacy."This is a great hideout. It has all the elements," said Cassiday. The Kauai sale was almost double the highest-priced real estate transaction earlier this year. That $14.7 million deal was a residential property at the Hualalai Resort on the Big Island.