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$100M in Sales in Mountainside Residences at Northstar

Homesite #5 in Martis 25 closed escrow last week for $1,695,000, and Homesitte #11 closed today for $1,095,000. This is very exciting as Homesite #5 sets a new record for the highest price for a lot sale in the history of Northstar, and Homesite #11 sold at full price. These closings are also very significant in the fact that it put us over $100,000,000 in sales in the Mountainside Residences at Northstar. And, this is just the beginning! Buyers are catching on to the value of ski-in/ski-out properties in Tahoe. In places where it has existed for over 30 years, paying top dollar for ski-in/ski-out properties is commonplace and a given. However, this is a whole new concept in Tahoe, as it really hasn’t been available until recently. Until the development of Mountainside Residences at Northstar there were really only a handful of true ski-in/ski-out properties available in north Tahoe. Now a whole new community of ski-in/ski-out residences does exist, but only for a limited number of families in Mountainside Residences at Northstar.