Blockchain CEO Jeff Berns Breaks Even in Lake Tahoe Mansion Sale

Despite a price cut, the Lakeshore Boulevard home in Incline Village remains one of the most expensive homes ever sold in Lake Tahoe. The mansion, known as "Spirit of the Lake," was recently sold by Jeffrey Berns, CEO of the Northern Nevada-based company Blockchains. 
 
Berns purchased this property almost three years ago and has now sold it for exactly what he paid: $47.5 million. This information is based on sales records from the Washington County Recorder's office, which confirmed that the sale took place on August 20th. 
 
The impressive Spirit of the Lake mansion initially had an asking price tag of $50 million but eventually went under contract at a reduced amount due to market dynamics. However, even with a deduction of $2.5 million off its initial value, Lakeshore Blvd.'s estate still stands tall among some of Lake Tahoe's priciest real estates. 
 
Back in November 2021, when Berns first acquired this property jointly with his then-wife Mary Berns at $47.5 million, it ranked third highest-priced house sale at this famous luxury destination after Joel Horowitz’s Tranquility estate and Thunderbird Lodge, which were disposed off at higher prices: $48 million (2013) and $50 million (1998), respectively. 
 
Constructed originally in 2006, Spirit of the Lake is two stories high, covering nearly 12,000 square feet of area, featuring four bedrooms along with four bathrooms plus three half-bathrooms, according to Washoe County Assessor's Office data. 
 
This luxurious dwelling boasts several premium features, such as wooden beam ceilings soaring up to 35 feet, coupled with an elevator providing easy accessibility across floors, besides offering amenities like a custom-built wine cellar and seven-car garage space for vehicle enthusiasts or large families having multiple cars. 
  
The opulent mansion also offers breathtaking views over its vast expanse, including around 1.2 acres dedicated exclusively to landscaping and boasting 150 feet of lakefront. 
 
Berns emerged as a significant player in Northern Nevada after he invested his cryptocurrency fortune to acquire almost 70,000 acres of land back in 2018. This huge tract was located at Tahoe Reno Industrial Center, which also houses Tesla's first Gigafactory, situated just east of Reno-Sparks within the Storey County boundary. 
 
This area later became the site for Berns' new venture, Blockchains, that was initiated merely a year before this land deal took place. 
 
Adding more weight to his ambitious plans for Northern Nevada, Berns proposed creating an Innovation Zone project on this vast acreage aimed at building a smart city. The initiative even received support from Steve Sisolak, who was then serving as Nevada Governor, but faced resistance from certain quarters, including Storey County itself. 
  
Despite various hurdles and challenges, Jeffrey Berns has continued to make waves with his ventures and real estate acquisitions, marking him as one of the key players in both technology and luxury property markets across the Northern Nevada region.