Deer Valley Creator’s ‘Remarkable’ $5 Million San Juan Island Estate Set To Go Up for Auction—With No Reserve

A spectacular waterfront estate that was built by the “visionary” behind the Deer Valley Resort is set to hit the auction block after spending more than two years on the market.

The $5 million property, which was masterminded by Deer Valley Resort developer Edgar Stern, is located on San Juan Island in Washington and sprawls across an astonishing 14 acres of land, including 967 feet of “breathtaking waterfront.”

Courtesy of its perch at the edge of the island, the property boasts awe-inspiring views of the water, as well as “gorgeous sunsets, Orca whales, and soaring eagles.”

There is also much beauty to be found in the property itself, which was custom-built for Stern in 1989—seven years after he founded the famous Deer Valley Resort in Park City, UT.

Stern, who died in 2008, was best known for his work in developing Deer Valley, which was one of the locations for the Winter Olympics in 2002. However, his private San Juan Island sanctuary was “his personal masterpiece,” the listing notes.

Much like he did with his beloved Deer Valley, the real estate developer devoted tremendous care and attention to the construction of his Washington retreat. He used an array of beautiful natural materials, some of it extremely rare, including virgin fir that was sourced from 120-year-old trees and Burmese teak flooring.

The value of the materials alone is estimated at around $15 million, a spokesperson for the property tells Realtor.com®.

Despite its impressive features, the home has struggled to find a buyer willing to pay even half that sum. Originally listed for sale in May 2023 for $10.9 million, the property bounced on and off the market, each time with a lower price, dropping to $9.8 million, then $7.5 million, and finally, $4.99 million.

Now, the owners are auctioning off the home with no reserve—meaning it could sell for a tiny fraction of its current asking price.

Whatever the winning bid, it’s clear that the future buyer will be walking away with a bargain, snagging themselves not just an enviable waterfront abode, but also a slice of local history.

“The Sterns spent several years thoughtfully designing and building their final masterpiece, where they lived out their lives,” said a statement provided to Realtor.com.

“Designed by renowned mountain architect David Finholm, the estate features materials and craftsmanship impossible to replicate today. The home is crafted with a combination of natural wood and stone, designed to seamlessly integrate with the natural surroundings and stand the test of time.

“Hand-selected knot-free Virgin Fir from 80–120-year-old trees, 10-inch Burmese Teak flooring, Western Cedar siding, and thousands of feet of copper railings were all chosen for their ability to endure sea air and salt spray. Replacement costs are estimated at well above $15 million.”

The home also boasts an expanse of space in its main residence and the detached two-bedroom, two-bathroom guesthouse.

In total, the property offers more than 12,000 square feet of living space, as well as a “cigar gazebo” with water views, covered patios and decks, and 4,589 square feet of service buildings.

“This property represents the culmination of a lifetime dedicated to creating extraordinary experiences,” says Randy Haddaway, CEO of Elite Auctions, which is handling the sale.

“Stern’s devotion to quality and craftsmanship is on full display in this breathtaking home—where every room captures ocean views and timeless design.”

Through his development of Deer Valley, Stern became known as one of the foremost experts on high-end hospitality, as well as a pioneer in ski resort management, achievements that were recognized with his induction into the U.S. Ski & Snowboard Hall of Fame in 2015.

“Even in the best of times, developing a new ski resort is risky, not to mention rewriting the script on how it would operate. While Edgar is rememberers for his humble and low key demeanor, this veteran and accomplished hotelier had solid faith in his principles for service,” Stern’s Hall of Fame bio reads.

“He also trusted his success to three key factors: access to major airport, proximity to an existing town, and private ownership of the 2,000 acres that would become Deer Valley. Combined, he was ready to apply the decorum of a fine hotel to the snowy slopes of Wasatch.

“The ‘Deer Valley Difference’ worked. From the moment guests arrived, uniformed valets carried their gear from parking lot to lodge. Impeccable grooming, gourmet dining and elegant lodging added to enhance the ski experience. The resort grew from five to twenty-one lifts and now covers 100 runs on six bowls on six different mountains. Employees increased from 200 to 2,800; some have been with the company since the beginning in 1981.

“The changes made an impact on the winter resort industry and in 1992, Edgar was honored by the Utah State Senate as ‘Father of Utah’s Ski Industry.'”

Before its most recent listing, the home was last sold in 2017 to its current owner, real estate investor Ed Nigro, for $3.3 million. Previously, in 2013, the property had been donated by the Stern family to the University of Washington as part of an endowment

The home retains much of its original charm from when Stern had it built more than 20 years ago, while also offering updated amenities that are sure to impress even the most discerning buyer.

“Amenities include a gym, media room, offices, studio and more,” the listing notes. “Masterfully crafted by the original owner/developer of Deer Valley resort, every element reflects his creative brilliance; from bedrock-set concrete pilings to rich woods & spectacular finishes.

“Set on 14+ acres of gorgeous grounds that blend seamlessly with the beauty of the island this masterpiece offers an unparalleled legacy retreat for generations to come.”

Ahead of the auction, which will take place at the Seattle Tennis Club on Aug. 4, several open houses will be held, with private previews also being offered to prospective buyers.