Jun 1, 2021 - News

Private Lake Minnetonka island home on market for $15M

Aerial photo of home sitting on private Lake Minnetonka island.
Photo: Google

The priciest home on the market in the Twin Cities sits on a private Lake Minnetonka island. The asking price is $15 million.

The intrigue: The five-bedroom, nine-bathroom Greenwood home is owned by Kam Talebi, the CEO of Kaskaid Hospitality, which operates Crave restaurants Brit's Pub, Union and BLVD.

  • The 14,000-square-foot house has one of Minnesota's largest residential glass enclosed atriums, an elevator, a 12-person theater and a full gym.
  • Currently assessed at $5.1 million, property taxes alone are nearly $69,000 annually.
  • It went on the market May 21 and is listed by Prudden & Co. The Zillow listing is here.

What to watch: If Talebi gets his asking price, it would be the most expensive home sale in at least the last five years, according to annual research by the Minneapolis/St. Paul Business Journal.

  • But with these insanely expensive homes, getting asking price is no easy feat.
  • A Deephaven home on the market for $14 million in 2019 eventually sold for $8.2 million. That was nowhere near the asking price, but still the priciest home sale of 2020.
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