Real Estate News

Huge estate once on ‘Bonanza’ for sale at Tahoe for $59 million

George and Clare Schmitt’s Lake Tahoe estate is on the market for $59 million.
George and Clare Schmitt’s Lake Tahoe estate is on the market for $59 million. Sierra Sotheby’s International Realty

A mammoth Lake Tahoe estate once featured on TV’s “Bonanza” is on the market for a whopping $59 million, one of the priciest listings in the region’s history.

Known as Sierra Sunset, the 31-acre Zephyr Cove, Nev., property is being sold by telecommunications executive George Schmitt and his wife Clare. It includes at 16,703-square-foot main house and stables for 15 horses; the facilities have been used to raise racehorses.

Lexi Cerretti, one of the two listing agents at Sotheby’s International Realty’s Tahoe office, said the Schmitts are trying to sell the property because they’re often out of the area.

“They’re just not using the home as much as they’d like to,” she said. Schmitt made his fortune in wireless communications.

While high-priced real estate transactions are fairly common at Tahoe, the Sierra Sunset listing stands out. If sold at the asking price, it would eclipse the reported $48 million paid in 2013 for an estate owned by Joel Horowitz, co-founder of the Tommy Hilfiger fashion empire.

The main house, including eight bedrooms, a home theater and a four-car heated garage, was completed in 2004.

The meadow adjacent to the house was featured in the opening scenes on “Bonanza,” the long-running NBC Western.

Dale Kasler: 916-321-1066, @dakasler