Just in time for the anniversary, a former Saudi property goes up for sale

500 lake.jpg

The first of three homes being built at 500 Lake Avenue hit the market today, priced at $7.7 million. This is part of the ten-acre parcel, with teardown, owned by one of the hundreds of daughters of Prince Abdul-Rahman bin Abdulaziz al Saud. The princess tried for $15.9 million in 2011, but eventually sold the place to this developer for $5.650 in 2016 and he, in turn, is now building three spec houses here.

This Kali-Naagy design seems awfully unpretentious for a house priced at nearly $8 million, but the location, at the intersection of Lake and Round Hill Road, is convenient, and the presence of two new neighbors will reduce that “Little House on the Prairie” feel that makes city transplants so uneasy. So we’ll see how they fare.

UPDATE: And now 498 Lake is up. $7.995 million

The original princess house

The original princess house