Waterfront estate sets Incline sales record

The iconic Lake Tahoe waterfront estate formerly owned by casino mogul Steve Wynn recently sold for $31.1 million, a record reported sale for Incline Village.

The 4.972-acre estate includes 210 feet of lake frontage and a private beach with a pier and boat hoist. The 12,661-square-foot main house has four bedrooms, a theater, a gym and a four-car garage. The guest house includes three bedrooms.

The buyers, Nora Betyousef Lacey and her husband Michael Lacey, were represented by Janet Pahl of Sierra Sotheby’s International Realty.

Long-time residents of Incline Village, the Laceys were attracted to the setting as well as their ties to the community. “It’s a beautiful lake and we have a great community here with a lot of philanthropists of the same mindset,” Ms. Lacey said.

She said she plans to make only a few changes.

“We want to keep the legacy of the Wynns,” Ms. Lacey said during an interview with Wall Street Journal writer Sarah Tilton. She dubs the property, which has been known as Old Forge, the Wynn estate. “I basically call these estates by the name of the person who created them,” she said.

In addition to representing the Laceys in the purchase of the Wynn estate, Sotheby’s represented them on their purchase of the Morgan estate in Los Altos Hills, Calif., and the recent sale of The Castle on the Lake in Incline Village. Lake Tahoe is the place they call home.

“The Wynn estate is our permanent home and our main home and the Morgan estate is a beautiful place when we want to get away.”

The Laceys look forward to sharing the upcoming July 4th holiday with friends and family at their new home. “We couldn’t imagine a better place to watch the fireworks with our loved ones.”

For more information, visit www.sierrasothebysrealty.com.