By Kate Snyder
A private single-family residence in Medina traded recently for almost five times what it previously sold for, showing that the area’s single-family market continues to draw interest. The home was sold for $24.1 million, or approximately $3,164 per square foot, according to King County public records. The seller was David Vaskevitch, the former CTO of Microsoft and the current CEO at Mylio, and the buyer was an entity affiliated with Hot Pillow Palace LLC.
Located at 8743 Overlake Drive W, the 7,600 square foot property is positioned on 0.89 acres, according to a previous Redfin listing. Built in 1922, the six-bedroom and five-and-a-half-bathroom house is fully restored with a new 86-foot dock and covered boat lift as well as a 113-foot low bank waterfront. The property features cosmetic and structural renovations and includes day rooms, a library and a covered veranda.
The property last sold in 2002 for $5.5 million, or about $723 per square foot, according to Redfin. Prior to the most recent sale, Redfin estimated the home value at about $18.4 million, or approximately $2,419 per square foot.
Medina is the priciest zip code in the Western United States outside of California, according to an end-of-year report from PropertyShark. With a median home sale price of $4.8 million, Medina was also ranked as the sixth most expensive zip code nationally at the end of 2022. The waterfront town has been steadily rising in the ranks, up from a ranking of 12th in 2019, 22nd in 2017 and 35th in 2016.
In 2020, Medina saw another home sell for $11.75 million, or about $1,655 per square foot, according to previous reporting from The Registry. The buyers were a married couple, Xiuzhong Liu and Yanli Li, of Clyde Hill, Wash., and the seller was Nancy Cirillo, former wife of Seattle Mariners’ and San Diego Padres player Jeff Cirillo. The asset was on the market for only 23 days. The property is located at 1257 Evergreen Point Road, and the house itself totals just over 7,100 square feet.