Editor's Note: As the founder, COO and designated broker of Christie’s International Real Estate – Seattle and the vice president and principal broker of LUXE Christie’s International Real Estate, Kendra Ratcliff's entrepreneurial spirit, and keen business acumen have been instrumental in growing these brokerages into market leaders in luxury real estate. Her business development achievements have received regional, national and international recognition, while her desire to exceed expectations and deliver results has earned her inclusion into Christie’s International Real Estate Masters Circle, an elite group of international brokers who have proven records of success, passion, and expertise.
Photo Credit: Christie’s International Real Estate Seattle
Here, she discusses legacy properties in Washington.
How would you describe a “legacy property”?
Legacy properties are those that offer owners luxury, privacy, security, and most of all, a comfortable place for your family to call home. Legacy properties provide space to spread out and often have acreage or views. These estates include amenities like pools, sports courts, fitness centers, and home offices and are designed to be passed down from generation to generation.
Why would a buyer want to purchase a legacy property in Washington?
When you think of Washington State, images of Seattle may come to mind; however, Washington is a state abundant with natural beauty from east to west. You’ll find coastal beaches, quaint islands in the Puget Sound, a cosmopolitan mecca in Seattle, world-class vineyards in the central region, and mountains and crystal-clear lakes throughout. If you’re interested in a ranch, penthouse, vineyard, or island retreat, you can find it in Washington.
While the landscape is certainly a draw, Washington also has a thriving economy that boasts the likes of international companies such as Microsoft, Amazon, Starbucks, Boeing, and a host of high tech, communications and health care leaders. There is no state corporate or income tax, and Washington ranked #2 in U.S. News & World Report’s “10 Best States for Business” in 2021, crediting Washington with the country’s third-highest patent creation rate and fifth-highest amount of venture capital investment.
Photo Credit: Christie’s International Real Estate Seattle
What are some examples of legacy properties available in Washington?
10000 NE Kitsap St Bainbridge Island, WA 98110 - On Bainbridge Island, just across Elliott Bay in Puget Sound from Seattle, is a very special 10-acre property that was built in 1940 by the U.S. Navy just prior to WWII as the operational command center of the Navy’s North Pacific Fleet communication system. Considered one of the most historical properties on the West Coast, this one-of-a-kind residence has been transformed into a timeless island estate that has retained its historic appeal. Classic design and modern amenities fill the 12,018 sq. ft. home that is the epitome of luxury, style and privacy. An indoor pool, 5-car garage, formal gardens, lovely patios and terraces, and a gorgeous gourmet kitchen that overlooks the property create an unprecedented level of luxury in this legacy property that is being offered for $8,750,000.
1920 4th Avenue #3102, Seattle, WA 98101 - Not all legacy properties need to be on acreage to have amazing views and amenities. The penthouse in Escala, one of Seattle’s most exclusive condominium towers, offers 4,522 sq. feet of luxury and has arguably the best views in the city - water, city and mountain! Escala’s exceptional amenities including a private club, full-service gym, theater, and restaurants. The three-bedroom penthouse takes advantage of its superior location with floor-to-ceiling windows throughout and three incredible terraces to enjoy the breathtaking vistas. The level of stonework, woodwork and cabinetry found throughout is also second to none. On the market for $7,200,000, this property is a standout among luxury estates in Washington.
Wax Orchard Road, Vashon Island, OR - For buyers looking to design and build their perfect, forever home, a rare 88-acre parcel of residential land on Vashon Island may be an irresistible location. With approximately 190 feet of waterfront and abundant wooded acreage, this property is a unique opportunity to live on one of the Puget Sound’s most sought-after islands. Residents of Vashon Island enjoy a rural island lifestyle with artists’ communities, organic farms, equestrian estates, ranches, and more. This property, which includes five contiguous parcels, is available for $4,700,000.
Photo Credit: Christie’s International Real Estate Seattle
When buying or selling a Legacy Property, what should a client look for in a broker?
Those who seek high-end, luxury homes need to look for a broker who can be a strong liaison and advocate for them. This means having superior research and negotiation skills as well as connections to impeccable properties that may or may not be currently on the market.
As COO and designated broker of Christie’s International Real Estate Seattle in Washington and VP and principal broker for LUXE Christie’s International Real Estate in Oregon, I am a corporate liaison and trusted advisor for buyers and sellers around the globe. Christie’s unparalleled marketing channels allow me to reach a global audience of high-net-worth individuals when selling estates and gives me access to the most extraordinary homes when representing buyers.
I’m also proud to be a member of several prestigious global real estate marketing organizations and am a member of Christie’s International Real Estate’s elite Masters Circle. My affiliations with these powerhouse organizations allow me to connect with other brokers in the United States and abroad, garnering interest in and private viewings for my clients’ homes and connecting clients with outstanding brokers when they are relocating to new areas.
Legacy estates, especially those over $5 million, represent a niche in the market that requires an extra level of industry knowledge and expertise. Often, $5+ million properties involve more than just the sale of a home. Additional considerations, such as significant acreage, sale of a business, water rights, tax implications, or foreign investments, may come into play during a transaction. With nearly 30 years of experience working with many of the region’s most prestigious real estate firms, I understand the nuances of these multi-million dollar properties and can expertly navigate my clients through the negotiations to a successful conclusion.
Photo Credit: Christie’s International Real Estate Seattle
For more information about buying or selling luxury homes throughout Washington, please visit OneBrokerOneWorld.com or contact Kendra Ratcliff at 503-330-6677 or KendraRatcliff@christiesrealestateseattle.com.
