Executives at Realogics Sotheby’s International Realty (RSIR) and Founding Members Becky Gray of The Gray Team and Grant Gibbs jointly announced the exclusive co-listing of The Pinnacle of Meydenbauer, located at 9630 SE 5th Street in West Bellevue in the exclusive Moorland neighborhood. The inspired residence was completed on March 26, 2025, by award-winning builder Eric Whiting, President of Overbrook Construction, Inc. As the most valuable new construction, move-in ready estate in the City of Bellevue, the property sets a new standard in design, quality, and view, and may also represent the last of its kind given the rising costs of land, inflationary tariffs on building components, and stricter underwriting for construction lending.
“This ten-million-dollar view comes with a gorgeous property, newly completed and ready for immediate gratification versus building a custom home,” said Gray, Principal of The Gray Team. “The setting is truly in a category of itself, an enviable perch with picture-perfect vistas of Meydenbauer Bay and the towering Bellevue skyline. This is an irreplaceable location and offering.”
Gray notes the unique Moorland Heights community presents like the island you can drive to with a true north vantage point offering panoramic views of a global city on the rise. The highly desirable enclave is just moments from Old Bellevue’s amenities and lifestyle attractions.
The Pinnacle of Meydenbauer is matchless in the combination of location, specification, and view—but perhaps the most distinctive attribute is that it is available. Years of site selection, design, entitlements, and construction have produced one of the Eastside’s most extraordinary residential offerings at $9,875,000.
“It’s a unicorn,” added Gibbs. “If Hollywood is searching for the next Sunset Hills movie set in the Pacific Northwest, this stunning home could be it. With its penthouse-inspired design and postcard-perfect views of Meydenbauer Marina and the Bellevue skyline, it truly stands apart. The versatile multi-level floor plan, combined with the peaceful setting of Moorland Heights, makes this residence a showpiece of sophisticated luxury and timeless elegance.”
The 7-bedroom, 7.5-bathroom masterpiece of 7,202 square feet on more than a quarter acre was masterfully designed as an architectural marvel, blending steel, stone, concrete, glass, and wood to create stunning spaces, including a main-level guest suite, open living areas, and a chef’s kitchen with a large island, custom cabinetry, and butler’s pantry. The primary suite features sweeping views, a spa-inspired bath, and a bistro-view deck. The lower level offers a media room, wine cellar, and private ADU with full kitchen and patio entry. All levels are connected by an elevator to foster aging in place. Elegance, privacy, and modern sophistication in a prime Bellevue location.
It is a crowning accomplishment of Overbrook Construction, Inc. “As a local builder with 31 years of experience, I’ve always believed that crafting a truly exceptional home goes beyond architecture, design, and technology,” said Whiting. “It is about creating spaces that enhance the homeowner’s lifestyle and elevate everyday living. This property holds a special place in my heart. From the moment we discovered its unmatched views of Meydenbauer Bay, the marina, and the city skyline, we knew it was destined for something extraordinary. Its private yet central location inspired us to push boundaries and deliver a masterpiece of luxury living. Every detail of this home reflects our commitment to excellence—from the foundation to the finishes. The result is a harmonious blend of breathtaking scenery and modern elegance. My team and I are proud to have achieved a home that offers not just unparalleled luxury but also a lifestyle that celebrates Bellevue’s beauty and sophistication.”
Whiting agreed that building new homes has become increasingly expensive. He estimated that a substantial amount of construction products and labor are impacted by changing policies. “It’s all adding to the costs developers and homebuyers will face in building future homes,” added Whiting.
Recently, the closely-watched S&P/Case-Shiller Home Price Index revealed the latest data for February 2025 showed 1.62% month-to-month increases for the Seattle metro area—second only to San Francisco for the highest home price increases when comparing the top 20 markets in the US. According to our 2025 Market Report, the localized submarket of Bellevue, West of I-405, witnessed a 7.55% year-over-year median home price appreciation in 2024 over 2023.
“There’s a flight to quality with real estate investments, especially with the turbulence in the stock markets as savvy investors who have done well seek stability in prime properties,” concluded Gray. “We are also seeing an increase in buyers from California escaping the higher cost of housing, insurance, and taxation by making a move to Washington.”
As a member of Market Leaders, an elite group of Sotheby’s International Realty brokers, Gray learned that many residents who lost their homes in the tragic fires in Los Angeles are opting not to rebuild but rather relocate to the Pacific Northwest. Acquiring a ready-made home also avoids the complexity of building and deferred occupancy. Insurance coverage has also become a factor in California. Between 2021 and 2024, homeowners’ insurance premiums in California rose by an average of 25%. In some areas, increases have been even more pronounced. For instance, Allstate received approval for a 34.1% rate hike affecting over 350,000 policyholders statewide. Major insurers like State Farm and Allstate have ceased writing new policies in certain high-risk areas due to potential massive losses from wildfires.
Washington State has become a popular destination for Californians seeking relief from higher taxes. The absence of a state income tax in Washington is a significant draw for many, especially when compared to California’s progressive income tax rates, which can reach up to 13.3% for high earners. While Washington does have a 7% capital gains tax on profits exceeding $262,000 (in April 2025, the Washington State Legislature passed Senate Bill 5813, introducing an additional 2.9% surtax on annual capital gains exceeding $1 million). However, this tax excludes gains on real estate and is more limited in scope compared to California’s broader taxation policies. Migration trends support this tax-motivated relocation. Between 2018 and 2022, a significant number of Californians moved to Washington, with Seattle being one of the top destinations.
Making its formal debut, the RSIR listing team is hosting a broker’s open house on Thursday, May 1 from 1:00 to 4:00 p.m. and a public open house on Saturday, May 3 from 2:00 to 4:00 p.m. and Sunday, May 4 from 2:00 to 4:00 p.m.
Find more information on the listing here →
