I just saw this and copied/paste: Facebook founder and CEO Mark Zuckerberg is the likely buyer of a 357-acre beachfront estate on the Hawaiian Island of Kauai’s North Shore, according to a source close to the situation. The Kahuaina Plantation, which went back on the market for $70 million this past August by the California-based investment firm, Falko Partners, has been sold to Hawaii-based Kahuaina Holdings LLC, which was formed this past July, and lists Marc Rousseau, a partner with the Honolulu-based law firm, Cades Schutte, as its manager. When reached by PBN, Rousseau declined comment. The source said that the likely sales price of the property is $66 million. A spokesman for Falko Partners, which is owned by Larry Bowman, told PBN via email that it is not able to comment on the transaction. Located at 7480 Koolau Road in Kilauea, the Kahuaina Plantation is being dubbed one of the last large beachfront parcels developed on Kauai with the seller investing major amounts of money over the years to satisfy all development requirements. It is fully entitled for 80 homesites with approved roads. Some development options include building a master-planned development, a community of larger estates or a beachfront family estate as a legacy property, marketing materials for the property said. In 2011, Honolulu Realtor Patricia Choi of Choi International listed the land for an asking price of $67.5 million. An email sent to Facebook inquiring about the sale was not immediately returned. Zuckerberg has certainly had an appetite for Hawaii real estate with the apparent purchase of several multi-million-dollar units in a 23-story ultra-luxury condominium under development called ONE Ala Moana, a source previously told PBN. (I wonder if this land has title issues?)
Posted on: Sun, 28 Sep 2014 23:08:27 +0000
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