I
ndian businessman Vijay Mallya has sold his luxurious home in Sausalito for $14.4 million, making it the most expensive sale in Marin County this year. The property was originally listed at $22.5 million in 2021 but its price dropped to $16.85 million in recent times. The home was previously owned by a person who defaulted on the property, and Mallya purchased it for $1.2 million in 1994. He spent a significant amount of money to finish the house and fill it with artwork by famous artists like Picasso and Renoir, as well as a gold Steinway piano.
Mallya, who was once known as the "King of Good Times" in India, has been facing financial difficulties in recent years due to his failed venture into starting Kingfisher Airlines in 2005. He has had to sell off many of his homes and other assets to pay off debts. In 2016, he had to flee India to avoid arrest on money laundering and fraud charges, with more than $1 billion owed to several banks. The country is still seeking his extradition from England, where he recently hosted a lavish wedding celebration for his son Sidhartha on his $14 million estate in Hertfordshire.
The Sausalito home was in foreclosure since 2019 and was put up for auction in March 2023 due to an unpaid balance of about $5.3 million. However, it did not sell at the auction, and another notice of default was sent to Mallya that summer. The buyer of the property was Puna LLC based in Colorado, whose mailing address matches the San Diego address of Wenthur Law Group, a law and tax firm specializing in yacht, jet, and vintage automobile purchasing. The firm's senior partner, Cris Wenthur, is known for his international presence in superyacht events around the world and has worked as legal counsel for various yacht, jet, and vintage automobile purchasing teams over the past two decades.
The hillside home offers stunning views of the bay, Alcatraz, Angel Island, and the San Francisco skyline. Although it is less than half a mile to the Sausalito Yacht Club, it does not have its own dock. Marin County's biggest sale last year was a $23 million dock home in Belvedere, and its second-biggest was a $17.5 million trade for a property on Bolinas Bay in Stinson Beach.
The four-level elevator home features seven bedrooms and twelve bathrooms, with ornate interior details like inlaid Italian marble floors, gilded columns, and mosaic bathroom tiling. It also includes a swimming pool, spa, sauna, and steam shower on the view terrace, which is located on the lowest level of the house. The property also boasts a three-car garage and space for three more vehicles behind its gated entry.
