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Legendary ranch back on market with $10M price drop

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Site of tech mogul’s famous parties asks $35 million

An aerial view of a bend in the Colorado River surrounded by scrubby hills. The Pennybacker Bridge, with rust-colored arches and Highway 360 spanning the river, is in the background.
7400 Coldwater Canyon Drive
Via Compass

The last time this Lake Austin ranch came on the market, it was owned by online-gaming pioneer/podcar advocate Richard Garriott de Cayeux and asking $45 million. While we can’t confirm if Garriott is still the seller, it’s definitely for sale again, this time with a $10 million price drop (but apparently without a possible bitcoin discount, as Garriott was offering at one point).

Now asking a mere $35 million, the 65.68-acre waterfront property does seem like quite the glamorous refuge—with the potential to be a show palace of a residence or remain relatively woodsy and wild, depending on the buyer’s choice.

Located on the Lake Austin shore Pennybacker (360) Bridge, the gently sloping property is covered in juniper, pecan, oak, and cypress trees along with other diverse plants and wildlife. It features 2,600 of water frontage and an eight-slip marina, as well as a site for 25,000-square-foot main house.

In addition, the property previously listed a 1,000-square-foot guest house, a carriage house, a caretaker’s office, and covered parking. Garriott also added a 300-seat outdoor theater modeled after Shakespeare’s Globe Theatre, a lighthouse, a pirate ship, a “haunted forest” with electronic sensors, and a medieval-style village with small, portable houses.

Many of those features are visible in photos for the current listing, held by Gary Dolch at Compass. The residence included in the listing is a two-story, frame house with two bedrooms and one bathroom, measuring 1,000 square feet. You can bring up to six horses if you buy it.

Lake Austin

Lake Austin Blvd, Austin, TX 78703