A Big Island mansion with 240-foot waterfall, golf course sells for a bargain
In mid-August, Sotherby Concierge Auction’s put up for auction an 11,000-square-foot, 5-bedroom mansion perched atop a cliff overlooking the Pacific Ocean on the Big Island’s Hamakua Coast.
The rich were bidding on a 9.44-acre property in Ninole that comes with a tennis stadium for 450 spectators, basketball courts, an Olympic pool featuring a two-story waterslide, a 16-foot diving pool, a nine-hole golf course, rooftop helipad and a terrace with a lounging area.
It is known as Waterfalling Estate for the two spectacular waterfalls, one that is 240 feet, in its backyard.
The mansion built in 2005 along Old Mamalahoa Highway has been rented for up to $10,000-a-night to several big names, including a royal family and Justin Bieber. It also was featured in the CBS reality series “Love Island,” MTV’s “Ex on the Beach” and Architectural Digest.
The property was bought for $6.8 million in December 2015. It was put on the market for $12.5 million in 2020. In February, it was listed for $9.95 million. With no takers, it was put up for auction, with a $5.75 million reserve.
Recently, the property sold for $5.75 million plus a 12% buyer’s premium to buyer Eric Lochtefeld, according to Mansion Global, an international real estate website.
It was a big pay day for listing agent Carrie Nicholson with Hawaiʻi Life. She also represented the seller and buyer.
Lochtefeld and his wife, Lori, currently live on the nearby Bliss Island Resort that they own, but plan to move into their new property as their primary residence, Lochtefeld told Global Mansion.
At $5.75 million it’s a bargain. Consider last year Rapper Diddy listed at nearly $6 million his 3,000-foot condo in New York City.