Listed at record $28 million, enthralling Granite Bay castle heads to auction
A 15,440-square-foot, fairy-tale castle in Granite Bay on nearly 5 acres of land is listed at $28 million and heads to auction in March.
The selling price of the the 10-bedroom, 21 bath home at 8300 Moss Court— which sits across from the tony Los Lagos community about 24 miles northeast of downtown Sacramento — was previously not listed, the Sacramento Bee reported in May, when the property first became available.
The property, which features large lakes, charming bridges, exotic waterfowl, soaring fountains and pristine gardens, is by far the highest-priced listing in the Sacramento region.
“It’s far disconnected from the rest of the pack,” said Ryan Lundquist, a Sacramento appraiser and real estate market expert.
The starting bid for the home is $1 million, according to Spark Auction. The $28 million listing price is not the reserve price.
“Swan Lakes Castle provides a unique luxury experience that is difficult to replicate anywhere else,” according to auction site’s listing.
The estate also features vaulted ceilings, a wine cellar, fitness center, 10-car garage and balconies that overlook an interior courtyard from every level.
The property has been used by members of the exclusive Swan Lakes Castle Club, who used the high-end venue for events such as corporate retreats, birthday parties, family gatherings and weddings.
Some of highest-profile businesses in the world have held events at the castle, according to Vadim Eidemiller, a Sacramento broker representing the property. He wouldn’t disclose the names of those companies.
A potential bidder on Swan Lakes might be a big corporation, Eidemiller said, “that could acquire the property as part of their programs, and use it as a platform for their already successful business to make it more successful.”
The property is zoned as residential-agricultural, so “there are lots of applications,” including use as a family estate or retreat, Eidemiller said.
While some work is ongoing at the castle, the property and its amenities are turn-key.
“The enhancements are ongoing, but that’s the nature of owning a castle,” he added.
While the price tag is high, the purchase might even be a deal for the right buyer.
“With the whole real estate thing ... in (these) challenging times, everybody is trying to acquire something, something tangible,” Eidemiller said. “This is a unique property. I think whoever buys it is going to make a smart decision because with cost of material and everything else — cost of the construction materials went up sometimes two times, three times — and to build something like that now, with so much materials and unique materials and hard-to-find materials and materials that have to be imported, it’s probably impossible.”
The property was originally a “luxury fishing and entertainment” sanctuary — dubbed “Ponds at Granite Bay” — owned by entrepreneur Gary Cino, founder of the 98 Cent Clearance Center chain, according to a 2008 Sacramento Bee article.
The estate last sold on Jan 10, 2019 for $2.2 million, according to public records.
The current owners spared no expense in improving Swan Lakes Castle, The Bee reported in May. One of the improvements was a swimming pool, Eidemiller said.
“Inspired by the grandeur of European royalty, Swan Lake Castle will enthrall you with its old world craftsmanship and beauty,” the property listing states. “Surrounded by a park like setting including ponds, trees and aquatic life, its immaculate manicured grounds creates fairy-tale setting. The surrounding grounds feature luxurious and pristine gardens, landscaped ponds and water ways filled with exotic water fowls. Surely, once-in-a-lifetime opportunity.”
This story was originally published January 19, 2021 at 11:10 AM.
