Microsoft Co-Founder Paul Allen Sells Private Island For $8 Million

Microsoft co-founder and current owner of the Seattle Seahawks Paul Allen has sold a private island in northwestern Washington state to undisclosed buyers for $8 million, his real estate agent said on Monday.  In the early 90s Allen originally planned on building his dream home on island but plans changed after the purchase of the Seahawks in ’97 which required increased time and responsibilities in Seattle. A description of the island:

“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.”

The 292-acre (118 hectare) Allan Island – not named for its former owner – had been on the market for nine years and sold on Friday for well below its original asking price of $20 million, according to selling agent Wally Gudgell of Windmere Real Estate.  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. Curbed says the $8 million could be about what Allen paid for the property in 1992.

The largely desolate island in the San Juan chain, accessible only by boat, seaplane and plane.  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.

Allen wanted to ensure that the buyers would maintain the essential natural integrity of the mostly undeveloped property, which lies east of the San Juan Island chain about 80 miles north of Seattle near Anacortes, Gudgell said.

“It was important to the seller what the buyer was going to do to the island,” Gudgell said. “We had some pretty wild buyers looking at it.”

The eventual buyers of the property plan to build roughly eight homes on the island and use it as a retreat, said buying agent Tere Foster, also of Windmere.

“They hope to basically live off the grid,” Foster said. “It’s a ‘??be-one-with-the-environment’ kind of a thing.”

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.

The island, which Allen bought in 1992, has one log cabin, a small landing strip and a network of walking trails. Foster said she was not sure whether the buyers would keep the log cabin or raze it.

GeekWire reports

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.

Source: GeekWire

Paul Allen (60) is currently dating Leigh Collier (38).  She is a former actress and current executive at CBS/Paramount and the couple began dating in late 2011.  Allen has never married and has been named Seattle’s most eligible bachelor numerous times in previous years.

Leigh Collier is vice president of programming and development at CBS Television Distribution. Collier formerly worked at Telepictures, a division of Warner Bros., where she was director of programming. Her responsibilities included numerous syndicated strips including TMZ, Judge Jeanine Pirro, Judge Mathis and People’s Court. She also spent a year as manager of media research at Telepictures.  Previously, Collier worked at Comedy Central, where she was a senior analyst, program planning and research; Universal Television Group, where she was an analyst of corporate research; and at USA Networks.  Collier is currently also an adjunct professor at Cal-State Northridge.  Collier received her bachelor of fine arts degree from New York University in 1998.

Do not mess with Ms. Collier: