Kailua Beachfront Estate sells for nearly $16M
A beachfront estate in Kailua that was on the market for nearly five years and was the subject of a foreclosure lawsuit has sold for $15.65 million.
The sale of 210 N. Kalaheo Ave., which was listed for $18.9 million and had been in escrow since Feb. 28, closed on Thursday. Jonah Kogen of Hillside Realty & Development represented the seller, while Scott Carvill of Carvill Sotheby’s International Realty represented the unnamed buyer.
In May, HSBC Bank USA filed for foreclosure alleging the owners of the property had defaulted on a 2010 mortgage that had an original principal of $16 million. Kogen previously told Pacific Business News that the sellers were working with the bank.
The property consists of three parcels between Kalaka Place and Kamani Kai Place with the addresses 206, 208 and 210 N. Kalaheo Ave., that were sold as one property with three homes — an eight-bedroom, eight-bath main house, a five bedroom, five-bath “villa,” and a three-bedroom, three-bath guest house.
The property had been featured in The Wall Street Journal’s “Home of the Day” in 2014, when the combined property was listed for $24.95 million and the beachfront house alone was available separately for $18.5 million.